GCC: Maize Market 2024

Maize Market Size in GCC

The GCC maize market surged to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Maize Production in GCC

In value terms, maize production fell to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

The United Arab Emirates (X tons) constituted the country with the largest volume of maize production, accounting for X% of total volume. Moreover, maize production in the United Arab Emirates exceeded the figures recorded by the second-largest producer, Saudi Arabia (X tons), more than tenfold. Kuwait (X tons) ranked third in terms of total production with a X% share.

In the United Arab Emirates, maize production 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: Saudi Arabia (X% per year) and Kuwait (X% per year).

In 2022, the average yield of maize in GCC soared to X tons per ha, rising by X% compared with the year before. Overall, the yield, however, recorded a noticeable downturn. Over the period under review, the maize yield reached the peak level at X tons per ha in 2019; however, from 2020 to 2022, the yield stood at a somewhat 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, the harvested area of maize in GCC fell modestly to X ha, approximately reflecting the year before. Over the period under review, the harvested area recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the harvested area increased by X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2019 to 2022, the growth of the maize harvested area failed to regain momentum.

Maize Exports

Exports in GCC

In 2022, overseas shipments of maize decreased by X% to X tons, falling for the third year in a row after two years of growth. In general, exports showed a precipitous decrease. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, maize exports reduced remarkably to $X in 2022. Over the period under review, exports continue to indicate a dramatic setback. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2022. Oman (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to maize exports from the United Arab Emirates stood at X%. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. Oman (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest maize supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Oman ($X), with a X% share of total exports.

In the United Arab Emirates, maize exports declined by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, growing by X% against the previous year. Export price indicated a tangible increase 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 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Maize Imports

Imports in GCC

In 2022, approx. X tons of maize were imported in GCC; surging by X% on the previous year. Total imports indicated resilient growth 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 decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, maize imports declined modestly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Saudi Arabia (X tons) was the largest importer of maize, comprising X% of total imports. The United Arab Emirates (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (X%). Oman (X tons) took a minor share of total imports.

Saudi Arabia was also the fastest-growing in terms of the maize imports, with a CAGR of X% from 2012 to 2022. At the same time, Oman (X%), Kuwait (X%) and the United Arab Emirates (X%) displayed positive paces of growth. While the share of Kuwait (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported maize in GCC, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

In Saudi Arabia, maize imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, falling by X% against the previous year. In general, the import price showed a slight curtailment. The pace of growth was the most pronounced in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :