Price for Cereal Flour; of Maize (Corn) in the UK - 2023

Price for Cereal Flour; of Maize (Corn) in the UK (CIF) - 2023

The average import price for cereal flour; of maize (corn) stood at $1,094 per ton in June 2023, surging by 2.6% against the previous month. Over the period from June 2022 to June 2023, it increased at an average monthly rate of +2.1%. The most prominent rate of growth was recorded in November 2022 an increase of 28% month-to-month. Over the period under review, average import prices attained the peak figure at $1,099 per ton in April 2023; afterwards, it flattened through to June 2023.

There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Italy ($1,286 per ton), while the price for Lesotho ($452 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Spain (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cereal Flour; of Maize (Corn) in the UK (FOB) - 2022

The average export price for cereal flour; of maize (corn) stood at $1,054 per ton in 2022, rising by 10% against the previous year. Overall, the export price enjoyed a modest increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by 46%. Over the period under review, the average export prices attained the maximum at $1,897 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($1,733 per ton), while the average price for exports to Hong Kong SAR ($616 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cereal Flour; of Maize (Corn) in the UK

In 2022, the amount of cereal flour; of maize (corn) imported into the UK skyrocketed to 23K tons, with an increase of 41% against the previous year's figure. Over the period under review, total imports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +10.2% 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 increased by +43.8% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cereal flour; of maize (corn) imports soared to $19M in 2022. Overall, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +16.5% 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 increased by +78.3% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Cereal Flour; of Maize (Corn) in the UK (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
France	1.8	1.8	3.2	6.6	54.2%
Germany	0.4	0.3	0.7	3.7	109.9%
Italy	4.4	3.7	4.1	2.5	-17.2%
Romania	0.5	0.4	0.3	1.8	53.3%
United States	1.2	1.1	1.4	1.2	0.0%
Poland	0.6	0.9	0.8	0.5	-5.9%
Netherlands	0.4	0.6	0.3	0.4	0.0%
Mexico	0.2	0.8	0.4	0.4	26.0%
Hungary	0.3	N/A	0.2	0.4	10.1%
Lesotho	0.1	0.1	0.2	0.2	26.0%
Belgium	1.6	0.3	0.2	0.1	-60.3%
Others	0.6	0.7	1.4	1.1	22.4%
Total	12.0	10.7	13.2	19.0	16.6%

Top Suppliers of Cereal Flour; of Maize (Corn) to the UK in 2022:

France (8.9K tons)
Germany (5.4K tons)
Italy (2.2K tons)
Romania (1.5K tons)
Poland (1.0K tons)
United States (0.9K tons)
Hungary (0.8K tons)
Mexico (0.4K tons)
Netherlands (0.3K tons)
Lesotho (0.3K tons)
Belgium (0.1K tons)

Exports of Cereal Flour; of Maize (Corn) in the UK

In 2022, shipments abroad of cereal flour; of maize (corn) decreased by -15.4% to 649 tons, falling for the second year in a row after two years of growth. Overall, exports recorded a sharp reduction. The most prominent rate of growth was recorded in 2020 when exports increased by 36%. As a result, the exports reached the peak of 4K tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, cereal flour; of maize (corn) exports shrank to $684K in 2022. Over the period under review, exports continue to indicate a dramatic shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 35% against the previous year. As a result, the exports reached the peak of $3M. From 2021 to 2022, the growth of the exports remained at a lower figure.

Export of Cereal Flour; of Maize (Corn) in the UK (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Ireland	782	616	93.3	197	-36.8%
France	229	233	217	158	-11.6%
Netherlands	83.0	140	80.4	79.1	-1.6%
Poland	4.7	39.1	56.2	65.0	140.0%
Germany	40.0	54.3	10.0	60.5	14.8%
Belgium	88.4	41.4	2.3	25.1	-34.3%
Hong Kong SAR	N/A	N/A	8.0	14.6	82.5%
Thailand	765	1,585	53.0	N/A	-73.7%
Others	201	248	213	85.6	-24.8%
Total	2,194	2,956	733	684	-32.2%