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

Price for Cereal Groats and Meal; of Maize (Corn) in Canada (CIF) - 2022

The average import price for cereal groats and meal; of maize (corn)s stood at $532 per ton in 2022, picking up by 41% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $573 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($562 per ton), while the price for Mexico totaled $145 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.1%).

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

In December 2023, the average export price for cereal groats and meal; of maize (corn)s amounted to $346 per ton, flattening at the previous month. In general, the export price, however, recorded a slight setback. The most prominent rate of growth was recorded in September 2023 an increase of 4.4% m-o-m. Over the period under review, the average export prices attained the peak figure at $429 per ton in March 2023; however, from April 2023 to December 2023, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From December 2022 to December 2023, the rate of growth in terms of prices for the United States amounted to -1.2% per month.

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

In 2022, purchases abroad of cereal groats and meal; of maize (corn)s decreased by -15.7% to 35K tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +4.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 42% against the previous year. As a result, imports attained the peak of 43K 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 skyrocketed to $19M in 2022. The total import value increased at an average annual rate of +12.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Cereal Groats and Meal; of Maize (Corn) in Canada (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	12.5	13.4	15.0	18.0	12.9%
Mexico	0.2	0.3	0.2	0.4	26.0%
Others	0.6	0.6	0.6	0.5	-5.9%
Total	13.3	14.2	15.9	18.9	12.4%

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

United States (32.0K tons)
Mexico (2.6K tons)

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

In 2022, overseas shipments of cereal groats and meal; of maize (corn)s decreased by -28.8% to 20K tons, falling for the second year in a row after two years of growth. Over the period under review, exports recorded a sharp decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 4.4% against the previous year. As a result, the exports reached the peak of 48K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of cereal groats and meal; of maize (corn)s dropped rapidly to $8.2M in 2022. In general, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 when exports increased by 9.7% against the previous year. As a result, the exports reached the peak of $14M. From 2021 to 2022, the growth of the exports of remained at a lower figure.