Asia: Maize Market 2024

Maize Market Size in Asia

In 2022, the Asian maize market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption continues to indicate a modest expansion. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Maize Production in Asia

In value terms, maize production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

China (X tons) constituted the country with the largest volume of maize production, accounting for X% of total volume. Moreover, maize production in China exceeded the figures recorded by the second-largest producer, India (X tons), ninefold. Indonesia (X tons) ranked third in terms of total production with a X% share.

In China, maize production 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 Indonesia (X% per year).

In 2022, the average maize yield in Asia dropped to X tons per ha, flattening at the previous year's figure. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2015 when the yield increased by X% against the previous year. Over the period under review, the maize yield hit record highs at X tons per ha in 2021, and then declined modestly 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, approx. X ha of maize were harvested in Asia; remaining stable against the previous year's figure. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid 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 maize harvested area remained at a lower figure.

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Maize Exports

Exports in Asia

In 2022, the amount of maize exported in Asia rose sharply to X tons, growing by X% compared with 2021 figures. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, maize exports soared to $X in 2022. In general, exports saw noticeable growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

India represented the largest exporting country with an export of around X tons, which resulted at X% of total exports. It was distantly followed by Myanmar (X tons), Pakistan (X tons) and Turkey (X tons), together committing a X% share of total exports. The following exporters - Vietnam (X tons), Lao People's Democratic Republic (X tons) and Indonesia (X tons) - each finished at a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to maize exports from India stood at X%. At the same time, Turkey (X%), Vietnam (X%), Myanmar (X%), Indonesia (X%) and Pakistan (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Lao People's Democratic Republic (X%) illustrated a downward trend over the same period. While the share of Myanmar (X p.p.), Turkey (X p.p.), Pakistan (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of India (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Myanmar ($X) and Pakistan ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Turkey, Indonesia, Vietnam and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Turkey, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, 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 Asia 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%. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

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

Maize Imports

Imports in Asia

For the ninth consecutive year, Asia recorded growth in supplies from abroad of maize, which increased by X% to X tons in 2022. Total imports indicated a remarkable 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 2013 indices. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the near future.

In value terms, maize imports expanded notably to $X in 2022. Over the period under review, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. 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 (X tons), Japan (X tons), South Korea (X tons), Vietnam (X tons), Iran (X tons) and Taiwan (Chinese) (X tons) represented roughly X% of total imports in 2022. Malaysia (X tons), Saudi Arabia (X tons), Turkey (X tons), Bangladesh (X tons) and Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bangladesh (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 Asia were China ($X), Japan ($X) and South Korea ($X), with a combined X% share of total imports. Vietnam, Iran, Taiwan (Chinese), Malaysia, Turkey, Saudi Arabia, Thailand and Bangladesh lagged somewhat behind, together accounting for a further X%.

Thailand, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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 Asia stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

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 Japan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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