MERCOSUR: Maize Market 2024

Maize Market Size in MERCOSUR

In 2022, the MERCOSUR maize market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the market reached the peak level at $X in 2021, and then reduced in the following year.

Maize Production in MERCOSUR

In value terms, maize production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Brazil (X tons), Argentina (X tons) and Paraguay (X tons), together accounting for X% of total production.

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

In 2022, the average yield of maize in MERCOSUR expanded remarkably to X tons per ha, increasing by X% compared with 2021 figures. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of yield peaked at X tons per ha in 2019; however, from 2020 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 were harvested in MERCOSUR; waning by X% against 2021. 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 pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the harvested area dedicated to maize production attained the peak figure at X ha in 2021, and then shrank in the following year.

Maize Exports

Exports in MERCOSUR

In 2022, after two years of decline, there was significant growth in shipments abroad of maize, when their volume increased by X% to X tons. In general, exports showed prominent growth. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, maize exports soared to $X in 2022. Over the period under review, exports enjoyed a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil (X tons) and Argentina (X tons) dominates exports structure, together constituting X% of total exports. It was distantly followed by Paraguay (X tons), making up a X% share of total exports.

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

In value terms, Brazil ($X), Argentina ($X) and Paraguay ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Brazil, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced mixed trends in the export price figures.

Maize Imports

Imports in MERCOSUR

In 2022, after four years of growth, there was decline in supplies from abroad of maize, when their volume decreased by less than X% to X tons. Total imports indicated a buoyant increase 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 2016 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then contracted modestly in the following year.

In value terms, maize imports surged to $X in 2022. Overall, imports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

Colombia represented the major importing country with an import of about X tons, which amounted to X% of total imports. Peru (X tons) took the second position in the ranking, followed by Brazil (X tons), Chile (X tons) and Venezuela (X tons). All these countries together took near X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Brazil (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest maize importing markets in MERCOSUR were Colombia ($X), Peru ($X) and Chile ($X), together accounting for X% of total imports. Brazil and Venezuela lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Chile ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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