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

Contents:

1. Price for Cereal Groats and Meal; of Maize (Corn) in Lithuania (CIF) - 2023
2. Price for Cereal Groats and Meal; of Maize (Corn) in Lithuania (FOB) - 2022
3. Imports of Cereal Groats and Meal; of Maize (Corn) in Lithuania
4. Exports of Cereal Groats and Meal; of Maize (Corn) in Lithuania

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

The average import price for cereal groats and meal; of maize (corn)s stood at $475 per ton in October 2023, standing approximately at the previous month. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in November 2022 when the average import price increased by 10% against the previous month. Over the period under review, average import prices hit record highs at $539 per ton in April 2023; however, from May 2023 to October 2023, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In October 2023, the country with the highest price was Estonia ($511 per ton), while the price for Ukraine ($458 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Poland (+1.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cereal Groats and Meal; of Maize (Corn) in Lithuania (FOB) - 2022

In 2022, the average export price for cereal groats and meal; of maize (corn)s amounted to $584 per ton, increasing by 15% against the previous year. Overall, the export price, however, saw a pronounced downturn. The growth pace was the most rapid in 2017 when the average export price increased by 19% against the previous year. The export price peaked at $834 per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat 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 Ukraine ($1,047 per ton), while the average price for exports to Poland ($370 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 Ukraine (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

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

For the fourth consecutive year, Lithuania recorded growth in supplies from abroad of cereal groats and meal; of maize (corn)s, which increased by 1.1% to 3.9K tons in 2022. In general, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +15.7% 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 +55.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 44% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, imports of cereal groats and meal; of maize (corn)s skyrocketed to $1.6M in 2022. Over the period under review, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +24.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +91.6% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 36%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

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

1. Poland (3195.3 tons)
2. Ukraine (584.0 tons)
3. Hungary (22.4 tons)

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

In 2022, exports of cereal groats and meal; of maize (corn)s from Lithuania reached 389 tons, standing approx. at 2021 figures. Over the period under review, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +9.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -23.1% against 2020 indices. The pace of growth was the most pronounced in 2020 when exports increased by 69%. As a result, the exports reached the peak of 505 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of cereal groats and meal; of maize (corn)s skyrocketed to $227K in 2022. Overall, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +17.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -3.4% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 68% against the previous year. As a result, the exports reached the peak of $235K. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Top Export Markets for Cereal Groats and Meal; of Maize (Corn) from Lithuania in 2022:

1. Latvia (155.6 tons)
2. Estonia (107.5 tons)
3. Germany (77.5 tons)
4. Poland (18.0 tons)
5. United Kingdom (15.1 tons)
6. Ukraine (10.0 tons)

Source: IndexBox Market Intelligence Platform