Price for Cereal Groats and Meal; of Maize (Corn) in Australia - 2023

Contents:

1. Price for Cereal Groats and Meal; of Maize (Corn) in Australia (CIF) - 2023
2. Price for Cereal Groats and Meal; of Maize (Corn) in Australia (FOB) - 2022
3. Imports of Cereal Groats and Meal; of Maize (Corn) in Australia
4. Exports of Cereal Groats and Meal; of Maize (Corn) in Australia

Price for Cereal Groats and Meal; of Maize (Corn) in Australia (CIF) - 2023

The average import price for cereal groats and meal; of maize (corn)s stood at $1,058 per ton in December 2023, jumping by 55% against the previous month. In general, the import price, however, recorded a slight curtailment. Over the period under review, average import prices reached the maximum at $1,873 per ton in February 2023; however, from March 2023 to December 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was China ($1,228 per ton), while the price for Brazil ($525 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by South Africa (-1.0%), while the prices for the other major suppliers experienced a decline.

Price for Cereal Groats and Meal; of Maize (Corn) in Australia (FOB) - 2022

In 2022, the average export price for cereal groats and meal; of maize (corn)s amounted to $2,560 per ton, reducing by -4.4% against the previous year. In general, the export price, however, saw prominent growth. The most prominent rate of growth was recorded in 2021 an increase of 65% against the previous year. As a result, the export price attained the peak level of $2,677 per ton, and then fell modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Papua New Guinea ($2,685 per ton), while the average price for exports to New Zealand totaled $1,701 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea (+4.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Cereal Groats and Meal; of Maize (Corn) in Australia

In 2022, imports of cereal groats and meal; of maize (corn)s into Australia expanded sharply to 2.1K tons, picking up by 8.7% on 2021. In general, total imports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +20.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -6.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 87% against the previous year. As a result, imports reached the peak of 2.3K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of cereal groats and meal; of maize (corn)s soared to $2M in 2022. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 72% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in years to come.

Top Suppliers of Cereal Groats and Meal; of Maize (Corn) to Australia in 2022:

1. Italy (905.3 tons)
2. Brazil (854.4 tons)
3. South Africa (186.4 tons)
4. New Zealand (102.2 tons)
5. Mexico (51.8 tons)

Exports of Cereal Groats and Meal; of Maize (Corn) in Australia

For the third consecutive year, Australia recorded decline in shipments abroad of cereal groats and meal; of maize (corn)s, which decreased by -1.4% to 461 tons in 2022. Overall, exports recorded a deep contraction.

In value terms, exports of cereal groats and meal; of maize (corn)s reduced to $1.2M in 2022. In general, exports continue to indicate a pronounced decline. The growth pace was the most rapid in 2021 when exports increased by 13% against the previous year.

Top Export Markets for Cereal Groats and Meal; of Maize (Corn) from Australia in 2022:

1. Papua New Guinea (403.9 tons)
2. New Zealand (51.9 tons)

Source: IndexBox Market Intelligence Platform