Eastern Asia: Grain Market 2024

Grain Market Size in Eastern Asia

The East Asian grain market shrank modestly to $X in 2022, leveling off at the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2021, and then dropped in the following year.

Grain Production in Eastern Asia

In value terms, grain production shrank to $X in 2022 estimated in export price. The total production indicated a modest 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, production decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

The country with the largest volume of grain production was China (X tons), accounting for X% of total volume. It was followed by Japan (X tons), with a X% share of total production.

From 2012 to 2022, the average annual growth rate of volume in China amounted to X%.

In 2022, the average grain yield in Eastern Asia fell to X tons per ha, approximately mirroring the year before. Overall, the yield, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the yield increased by X%. Over the period under review, the grain yield hit record highs at X tons per ha in 2021, and then contracted in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of grain in Eastern Asia declined slightly to X ha, remaining constant against 2021. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2016 to 2022, the growth of the grain harvested area failed to regain momentum.

Grain Exports

Exports in Eastern Asia

For the third consecutive year, Eastern Asia recorded decline in shipments abroad of grain, which decreased by X% to X tons in 2022. In general, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, grain exports shrank to $X in 2022. Overall, exports showed a drastic downturn. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China dominates exports structure, amounting to X tons, which was near X% of total exports in 2022. The following exporters - South Korea (X tons) and Taiwan (Chinese) (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to grain exports from China stood at X%. At the same time, South Korea (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. South Korea (X p.p.) and Taiwan (Chinese) (X p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest grain supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with a X% share of total exports.

In China, grain exports decreased by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, approximately mirroring the previous year. In general, the export price showed resilient growth. The growth pace was the most rapid in 2018 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is likely to continue growth in years to come.

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 China ($X per ton), while Taiwan (Chinese) ($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 a decline in the export price figures.

Grain Imports

Imports in Eastern Asia

In 2022, overseas purchases of grain increased by X% to X tons, rising for the third consecutive year after four years of decline. Total imports indicated a prominent 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 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, grain imports expanded rapidly to $X in 2022. Over the period under review, imports showed a prominent increase. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

China was the major importing country with an import of around X tons, which amounted to X% of total imports. Japan (X tons) took the second position in the ranking, followed by South Korea (X tons) and Taiwan (Chinese) (X tons). All these countries together took near X% share of total imports.

China was also the fastest-growing in terms of the grain imports, with a CAGR of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) and South Korea (X%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. From 2012 to 2022, the share of China increased by X percentage points.

In value terms, the largest grain importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined X% share of total imports.

In terms of the main importing countries, China, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with an increase of X% against the previous year. Import price indicated a slight 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, grain import price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($X per ton) and South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) and China ($X per ton) were 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.

Source: IndexBox Platform

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