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

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

In July 2023, the average export price for cereal groats and meal; of maize (corn)s amounted to $43.3 per ton, leveling off at the previous month. Overall, the export price, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in December 2022 an increase of 22% m-o-m. As a result, the export price reached the peak level of $55.9 per ton. From January 2023 to July 2023, the the average export prices remained at a lower figure.

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

From July 2022 to July 2023, the rate of growth in terms of prices for Afghanistan amounted to -2.0% per month.

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

In 2022, the average import price for cereal groats and meal; of maize (corn)s amounted to $200 per ton, shrinking by -48.1% against the previous year. Over the period under review, the import price recorded a deep contraction. The most prominent rate of growth was recorded in 2019 when the average import price increased by 9.5%. Over the period under review, average import prices hit record highs at $529 per ton in 2014; however, from 2015 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 Turkey ($331 per ton), while the price for the United States amounted to $41 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+11.6%), while the prices for the other major suppliers experienced a decline.

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

In 2022, approx. 164K tons of cereal groats and meal; of maize (corn)s were exported from Pakistan; increasing by 13% compared with the previous year. Overall, exports posted significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 72% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, exports of cereal groats and meal; of maize (corn)s reduced to $8.9M in 2022. Over the period under review, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +10.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +42.7% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 64%. As a result, the exports reached the peak of $10M, and then contracted in the following year.

Export of Cereal Groats and Meal; of Maize (Corn) in Pakistan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Afghanistan	6.5	6.2	10.2	8.7	10.2%
Kazakhstan	N/A	N/A	N/A	0.1	0%
Others	N/A	0.1	N/A	0.1	0.0%
Total	6.5	6.2	10.2	8.9	11.0%

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

Afghanistan (158.5K tons)
Kazakhstan (3.0K tons)

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

In 2022, purchases abroad of cereal groats and meal; of maize (corn)s decreased by -61.9% to 226 tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2021 when imports increased by 29% against the previous year. As a result, imports attained the peak of 593 tons, and then declined markedly in the following year.

In value terms, imports of cereal groats and meal; of maize (corn)s contracted rapidly to $45K in 2022. Over the period under review, imports recorded a dramatic decrease. The pace of growth appeared the most rapid in 2021 when imports increased by 38%. As a result, imports attained the peak of $229K, and then fell markedly in the following year.