Price for Cereals; Maize (Corn), Other than Seed in the United States - 2023
Contents:
- Price for Cereals; Maize (Corn), Other than Seed in the United States (FOB) - 2023
- Price for Cereals; Maize (Corn), Other than Seed in the United States (CIF) - 2022
- Exports of Cereals; Maize (Corn), Other than Seed in the United States
- Imports of Cereals; Maize (Corn), Other than Seed in the United States
Price for Cereals; Maize (Corn), Other than Seed in the United States (FOB) - 2023
The average export price for cereals; maize (corn), other than seeds stood at $244 per ton in September 2023, with a decrease of -12.1% against the previous month. Over the period under review, the export price continues to indicate a pronounced decrease. As a result, the export price attained the peak level of $340 per ton. From January 2023 to September 2023, the the average export prices failed to regain momentum.
Average prices varied noticeably for the major overseas markets. In September 2023, the countries with the highest prices were Saudi Arabia ($272 per ton) and Mexico ($259 per ton), while the average price for exports to Colombia ($221 per ton) and China ($223 per ton) were amongst the lowest.
From December 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-0.9%), while the prices for the other major destinations experienced a decline.
Price for Cereals; Maize (Corn), Other than Seed in the United States (CIF) - 2022
The average import price for cereals; maize (corn), other than seeds stood at $345 per ton in 2022, increasing by 16% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 22% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($468 per ton), while the price for Turkey ($218 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+1.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Cereals; Maize (Corn), Other than Seed in the United States
In 2022, shipments abroad of cereals; maize (corn), other than seeds decreased by -16.3% to 58M tons for the first time since 2018, thus ending a three-year rising trend. In general, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +11.9% 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 +40.0% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 34%. As a result, the exports attained the peak of 69M tons, and then shrank sharply in the following year.
In value terms, exports of cereals; maize (corn), other than seeds fell to $18.7B in 2022. Over the period under review, exports, however, posted a significant increase. The growth pace was the most rapid in 2021 when exports increased by 101%. As a result, the exports reached the peak of $18.7B, leveling off in the following year.
| Export of Cereals; Maize (Corn), Other than Seed in the United States (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 0.1 | 1.2 | 5.1 | 5.2 | 273.3% |
| Mexico | 2.7 | 2.7 | 4.7 | 5.0 | 22.8% |
| Japan | 2.0 | 1.9 | 3.2 | 3.0 | 14.5% |
| Canada | 0.3 | 0.3 | 0.7 | 1.3 | 63.0% |
| Colombia | 0.7 | 0.9 | 1.1 | 1.0 | 12.6% |
| South Korea | 0.4 | 0.6 | 0.9 | 0.5 | 7.7% |
| Taiwan (Chinese) | 0.2 | 0.2 | 0.4 | 0.3 | 14.5% |
| Guatemala | 0.2 | 0.2 | 0.3 | 0.3 | 14.5% |
| Others | 1.1 | 1.4 | 2.4 | 2.1 | 24.1% |
| Total | 7.7 | 9.3 | 18.7 | 18.7 | 34.4% |
Top Export Markets for Cereals; Maize (Corn), Other than Seed from the United States in 2022:
- China (16.1M tons)
- Mexico (15.5M tons)
- Japan (9.0M tons)
- Canada (4.8M tons)
- Colombia (3.0M tons)
- South Korea (1.4M tons)
- Guatemala (1.0M tons)
- Taiwan (Chinese) (0.8M tons)
Imports of Cereals; Maize (Corn), Other than Seed in the United States
In 2022, purchases abroad of cereals; maize (corn), other than seeds decreased by -5.9% to 582K tons, falling for the second consecutive year after two years of growth. In general, imports continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 0.8%. As a result, imports attained the peak of 661K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of cereals; maize (corn), other than seeds rose sharply to $201M in 2022. The total import value increased at an average annual rate of +6.2% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 14%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.
| Import of Cereals; Maize (Corn), Other than Seed in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 56.2 | 56.8 | 69.8 | 72.0 | 8.6% |
| Argentina | 57.8 | 57.2 | 67.8 | 57.0 | -0.5% |
| Brazil | 26.6 | 11.6 | 30.8 | 45.6 | 19.7% |
| Mexico | 17.1 | 19.2 | 9.2 | 11.8 | -11.6% |
| Romania | 5.5 | 12.6 | N/A | 10.2 | 22.9% |
| Others | 4.5 | 3.6 | 5.6 | 4.3 | -1.5% |
| Total | 168 | 161 | 183 | 201 | 6.2% |
Top Suppliers of Cereals; Maize (Corn), Other than Seed to the United States in 2022:
- Canada (225.6K tons)
- Argentina (168.3K tons)
- Brazil (125.2K tons)
- Romania (36.2K tons)
- Mexico (25.2K tons)
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