Asia: Maize Market 2024

Maize Market Size in Asia

After two years of decline, the Asian maize market increased by less than X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Maize Production in Asia

In value terms, maize production declined to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Indonesia (X tons), China (X tons) and Thailand (X tons), together accounting for X% of total production. Japan, India, Uzbekistan and Israel lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by India (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average maize yield in Asia contracted to X tons per ha, waning by X% against 2021. Over the period under review, the yield saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the yield increased by X%. Over the period under review, the maize yield attained the peak level at X tons per ha in 2014; however, from 2015 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of maize (green) were harvested in Asia; picking up by X% compared with the year before. The harvested area increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area remained at a lower figure.

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Maize Exports

Exports in Asia

In 2022, shipments abroad of maize (green) decreased by X% to X tons, falling for the fifth year in a row after two years of growth. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, maize exports fell slightly to $X in 2022. Total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2017 indices. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China represented the major exporting country with an export of about X tons, which accounted for X% of total exports. India (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (X%), Iran (X%) and Uzbekistan (X%). The following exporters - Malaysia (X tons), Oman (X tons), Pakistan (X tons), Saudi Arabia (X tons), Israel (X tons) and Jordan (X tons) - together made up X% of total exports.

Exports from China decreased at an average annual rate of X% from 2012 to 2022. At the same time, Iran (X%), India (X%), Thailand (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. Malaysia experienced a relatively flat trend pattern. By contrast, Oman (X%), Jordan (X%), Uzbekistan (X%), Pakistan (X%) and Israel (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, Uzbekistan, Malaysia, Iran and Thailand increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest maize supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by India ($X), with an X% share of total exports. It was followed by Thailand, with a X% share.

In China, maize exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, picking up by X% against the previous year. Export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize export price increased by X% against 2014 indices. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Maize Imports

Imports in Asia

In 2022, supplies from abroad of maize (green) decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then contracted slightly in the following year.

In value terms, maize imports dropped to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2012 indices. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2021, and then fell in the following year.

Imports by Country

Hong Kong SAR represented the major importing country with an import of around X tons, which accounted for X% of total imports. It was distantly followed by the United Arab Emirates (X tons), Singapore (X tons), Nepal (X tons) and Afghanistan (X tons), together generating a X% share of total imports. Kuwait (X tons), Saudi Arabia (X tons), Malaysia (X tons), Macao SAR (X tons), Kazakhstan (X tons), Bahrain (X tons) and South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to maize imports into Hong Kong SAR stood at X%. At the same time, Nepal (X%), the United Arab Emirates (X%), Saudi Arabia (X%), Afghanistan (X%), Macao SAR (X%), Bahrain (X%) and Kazakhstan (X%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. Singapore and Kuwait experienced a relatively flat trend pattern. By contrast, Malaysia (X%) and South Korea (X%) illustrated a downward trend over the same period. Hong Kong SAR (X p.p.), the United Arab Emirates (X p.p.), Nepal (X p.p.), Kuwait (X p.p.), Malaysia (X p.p.) and Bahrain (X p.p.) significantly strengthened its position in terms of the total imports, while South Korea and Singapore saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported maize (green) in Asia, comprising X% of total imports. The second position in the ranking was held by Singapore ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Hong Kong SAR totaled X%. In the other countries, the average annual rates were as follows: Singapore (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, shrinking by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2021, and then declined slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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