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Asia - Maize - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: Jul 8, 2020

Asia's Maize Market - Imports Will Grow Due to Rising Feed Demand

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IndexBox has just published a new report: 'Asia - Maize - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

In 2019, the Asian maize market was finally on the rise to reach $204.4B after two years of decline. The total consumption indicated buoyant growth from 2009 to 2019: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 25% against the previous year. As a result, consumption reached a peak level of $215.8B. From 2017 to 2019, the growth of the market remained at a lower figure.

Maize Consumption by Country

The country with the largest volume of maize consumption was China (274M tonnes), comprising approx. 60% of the total volume. Moreover, maize consumption in China exceeded the figures recorded by the second-largest consumer, Indonesia (33M tonnes), eightfold. India (28M tonnes) ranked third in terms of total consumption with a 6.3% share.

From 2009 to 2019, the average annual growth rate of volume in China stood at +5.2%. In other countries, the average annual rates were as follows: Indonesia (+6.4% per year) and India (+7.3% per year).

In value terms, China ($130.1B) led the market, alone. The second position in the ranking was occupied by Indonesia ($15.2B). It was followed by India.

The countries with the highest levels of maize per capita consumption in 2019 were South Korea (223 kg per person), China (188 kg per person), and Viet Nam (159 kg per person).

From 2009 to 2019, the biggest increases were in Viet Nam, while maize per capita consumption for the other leaders experienced more modest paces of growth.

Production in Asia

In 2019, approx. 379M tonnes of maize were produced in Asia; rising by 4.8% on the year before. The total production indicated a noticeable increase from 2009 to 2019: its volume increased at an average annual rate of +4.9% over the last decade. Based on 2019 figures, production increased by +61.8% against 2009 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 16% against the previous year. The volume of production peaked in 2019 and is expected to retain growth in years to come.

Production By Country in Asia

China (270M tonnes) constituted the country with the largest volume of maize production, accounting for 71% of total volume. Moreover, maize production in China exceeded the figures recorded by the second-largest producer, Indonesia (33M tonnes), eightfold. The third position in this ranking was occupied by India (29M tonnes), with a 7.6% share.

In China, maize production increased at an average annual rate of +5.1% over the period from 2009-2019. In the other countries, the average annual rates were as follows: Indonesia (+6.3% per year) and India (+5.6% per year).

Amid concerns about the impact of COVID-19 on grain supplies, the Chinese government has taken a number of measures to preserve the area sown with corn, which canceled previous measures. As a result, production in the country in 2020 is projected at 260-265 million tons. In India, after record yields in 2019, a return to normal yields is expected to lead to a slight decrease in corn production, which is currently projected at 28.0 million tons.

Harvested Area in Asia

The maize harvested area rose modestly to 69M ha in 2019, increasing by 2.7% on 2018 figures. The harvested area increased at an average annual rate of +2.6% from 2009 to 2019; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 12% year-to-year. Over the period under review, the harvested area dedicated to maize production reached the maximum at 69M ha in 2016; afterward, it flattened through to 2019.

Yield in Asia

In 2019, the average maize yield in Asia rose slightly to 5.5 tonnes per ha, picking up by 2.1% against the previous year's figure. The yield figure increased at an average annual rate of +2.3% over the period from 2009 to 2019; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2010 when the yield increased by 5.2% y-o-y. Over the period under review, the maize yield hit record highs in 2019 and is expected to retain growth in the near future.

Maize Imports in Asia

In 2019, overseas purchases of maize increased by 7.7% to 77M tonnes, rising for the second consecutive year after two years of decline. Total imports indicated resilient growth from 2009 to 2019: its volume increased at an average annual rate of +5.3% over the last decade. Based on 2019 figures, imports increased by +45.3% against 2017 indices. The pace of growth appeared the most rapid in 2018 with an increase of 35% against the previous year. The volume of imports peaked in 2019 and is expected to retain growth in the immediate term.

In value terms, maize imports expanded notably to $15.5B (IndexBox estimates) in 2019.

Imports by Country

In 2019, Japan (18M tonnes), distantly followed by South Korea (11M tonnes), Viet Nam (11M tonnes), Iran (10M tonnes), Taiwan (4.2M tonnes), Malaysia (4M tonnes) and China (3.9M tonnes) represented the main importers of maize, together generating 80% of total imports.

From 2009 to 2019, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Viet Nam, while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($3.5B), South Korea ($2.4B) and Viet Nam ($1.9B) constituted the countries with the highest levels of imports in 2019, together comprising 50% of total imports.

In 2020, the increases in imports are expected mainly due to rising feed demand. China's (mainland) purchases from abroad can grow to 7 million tonnes amid relatively high domestic maize prices. It is expected that increased demand for maize imports in 2020 will be met by larger supplies from the United States, supported by sufficient domestic supplies from a projected record crop in 2020 and low prices.

Import Prices by Country

In 2019, the maize import price in Asia amounted to $200 per tonne, remaining constant against the previous year.

Average prices varied somewhat amongst the major importing countries. In 2019, major importing countries recorded the following prices: in China ($222 per tonne) and Malaysia ($213 per tonne), while Viet Nam ($177 per tonne) and Iran ($182 per tonne) were amongst the lowest.

From 2009 to 2019, the most notable rate of growth in terms of prices was attained by Iran, while the other leaders experienced a decline in the import price figures.

Source: IndexBox AI Platform

Product coverage:
• FCL 56 - Maize

This report provides an in-depth analysis of the maize market in Asia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.



Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in Asia, split by region and country
• Trade (exports and imports) in Asia
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
7.3
HARVESTED AREA AND YIELD BY COUNTRY
8. IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2019
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

• Afghanistan
• Armenia
• Azerbaijan
• Bahrain
• Bangladesh
• Bhutan
• Brunei Darussalam
• Cambodia
• China
• China, Hong Kong SAR
• China, Macao SAR
• Cyprus
• Georgia
• India
• Indonesia
• Iran
• Iraq
• Israel
• Japan
• Jordan
• Kazakhstan
• Kuwait
• Kyrgyzstan
• Lebanon
• Malaysia
• Maldives
• Mongolia
• Myanmar
• Nepal
• Oman
• Pakistan
• Palestine
• Philippines
• Qatar
• Saudi Arabia
• Singapore
• South Korea
• Sri Lanka
• Syrian Arab Republic
• Taiwan, Chinese
• Tajikistan
• Thailand
• Timor-Leste
• Turkey
• Turkmenistan
• United Arab Emirates
• Uzbekistan
• Viet Nam
• Yemen
• Lao People's Democratic Republic
• Democratic People's Republic of Korea
LIST OF TABLES
Table 1:
Key Findings In 2019
Table 2:
Market Volume, In Physical Terms, 2007–2019
Table 3:
Market Value, 2007–2019
Table 4:
Per Capita Consumption, By Country, 2015–2019
Table 5:
Production, In Physical Terms, By Country, 2007–2019
Table 6:
Harvested Area, By Country, 2007-2019
Table 7:
Yield, By Country, 2007-2019
Table 8:
Imports, In Physical Terms, By Country, 2007–2019
Table 9:
Imports, In Value Terms, By Country, 2007–2019
Table 10:
Import Prices, By Country Of Destination, 2007–2019
Table 11:
Exports, In Physical Terms, By Country, 2007–2019
Table 12:
Exports, In Value Terms, By Country, 2007–2019
Table 13:
Export Prices, By Country Of Origin, 2007–2019
Table 14:
Producer Prices, By Major Producing Country, 2019
Table 15:
Producer Prices Index - Annual Data (2004-2006=100), By Major Producing Country
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2019
Figure 2:
Market Value, 2007–2019
Figure 3:
Consumption, By Country, 2019
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Yield And Growth
Figure 11:
Exports And Growth
Figure 12:
Export Prices And Growth
Figure 13:
Market Size And Growth
Figure 14:
Per Capita Consumption
Figure 15:
Imports And Growth
Figure 16:
Import Prices
Figure 17:
Production, In Physical Terms, 2007–2019
Figure 18:
Production, In Value Terms, 2007–2019
Figure 19:
Area Harvested, 2007–2019
Figure 20:
Yield, 2007–2019
Figure 21:
Production, By Country, 2019
Figure 22:
Production, In Physical Terms, By Country, 2007–2019
Figure 23:
Harvested Area, By Country, 2019
Figure 24:
Harvested Area, By Country, 2007-2019
Figure 25:
Yield, By Country, 2007-2019
Figure 26:
Imports, In Physical Terms, 2007–2019
Figure 27:
Imports, In Value Terms, 2007–2019
Figure 28:
Imports, In Physical Terms, By Country, 2019
Figure 29:
Imports, In Physical Terms, By Country, 2007–2019
Figure 30:
Imports, In Value Terms, By Country, 2007–2019
Figure 31:
Import Prices, By Country, 2007–2019
Figure 32:
Exports, In Physical Terms, 2007–2019
Figure 33:
Exports, In Value Terms, 2007–2019
Figure 34:
Exports, In Physical Terms, By Country, 2019
Figure 35:
Exports, In Physical Terms, By Country, 2007–2019
Figure 36:
Exports, In Value Terms, By Country, 2007–2019
Figure 37:
Export Prices, 2007–2019

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