Price for Cereals; Maize (Corn), Other than Seed in Canada - 2023
Contents:
- Price for Cereals; Maize (Corn), Other than Seed in Canada (CIF) - 2023
- Price for Cereals; Maize (Corn), Other than Seed in Canada (FOB) - 2022
- Imports of Cereals; Maize (Corn), Other than Seed in Canada
- Exports of Cereals; Maize (Corn), Other than Seed in Canada
Price for Cereals; Maize (Corn), Other than Seed in Canada (CIF) - 2023
In September 2023, the average import price for cereals; maize (corn), other than seeds amounted to $243 per ton, with a decrease of -3.2% against the previous month. Overall, the import price continues to indicate a slight setback. The most prominent rate of growth was recorded in April 2023 an increase of 35% m-o-m. Over the period under review, average import prices reached the maximum at $297 per ton in June 2023; however, from July 2023 to September 2023, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for the United States.
From December 2022 to September 2023, the rate of growth in terms of prices for the United States amounted to -1.8% per month.
Price for Cereals; Maize (Corn), Other than Seed in Canada (FOB) - 2022
The average export price for cereals; maize (corn), other than seeds stood at $311 per ton in 2022, increasing by 19% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 48%. The export price peaked in 2022 and is expected to retain growth in years to come.
Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Netherlands ($344 per ton) and Japan ($336 per ton), while the average price for exports to the UK ($299 per ton) and Ireland ($300 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cereals; Maize (Corn), Other than Seed in Canada
In 2022, the amount of cereals; maize (corn), other than seeds imported into Canada soared to 4.8M tons, increasing by 72% compared with 2021. In general, imports recorded a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of cereals; maize (corn), other than seeds soared to $1.3B in 2022. Overall, imports saw significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 137%. Imports peaked in 2022 and are likely to continue growth in the near future.
| Import of Cereals; Maize (Corn), Other than Seed in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 357 | 283 | 683 | 1,323 | 54.7% |
| Others | 13.1 | 5.6 | 0.5 | 0.5 | -66.3% |
| Total | 370 | 288 | 684 | 1,324 | 53.0% |
Top Suppliers of Cereals; Maize (Corn), Other than Seed to Canada in 2022:
- United States (4.8M tons)
Exports of Cereals; Maize (Corn), Other than Seed in Canada
In 2022, approx. 2.1M tons of cereals; maize (corn), other than seeds were exported from Canada; picking up by 29% on 2021. Overall, exports showed significant growth. The pace of growth was the most pronounced in 2021 with an increase of 57%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, exports of cereals; maize (corn), other than seeds soared to $644M in 2022. Over the period under review, exports enjoyed significant growth. The growth pace was the most rapid in 2021 with an increase of 133% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Cereals; Maize (Corn), Other than Seed in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | 68.5 | 61.8 | 117 | 216 | 46.6% |
| Spain | 45.8 | 15.5 | 103 | 108 | 33.1% |
| United Kingdom | 30.7 | 24.7 | 70.1 | 105 | 50.7% |
| United States | 56.0 | 58.9 | 71.5 | 73.8 | 9.6% |
| Portugal | N/A | 5.1 | 26.6 | 52.1 | 219.6% |
| Japan | N/A | N/A | 23.7 | 40.6 | 71.3% |
| Netherlands | N/A | 13.5 | 5.8 | 34.4 | 59.6% |
| Others | 0.2 | 0.2 | 0.6 | 13.4 | 306.2% |
| Total | 201 | 180 | 419 | 644 | 47.4% |
Top Export Markets for Cereals; Maize (Corn), Other than Seed from Canada in 2022:
- Ireland (722.6K tons)
- United Kingdom (353.0K tons)
- Spain (331.6K tons)
- United States (231.9K tons)
- Portugal (159.4K tons)
- Japan (120.8K tons)
- Netherlands (99.7K tons)
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This report provides an in-depth analysis of the maize market in Canada.
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