Argentina: Maize Market 2022

Maize Market Size in Argentina

In 2021, the Argentinian maize market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, continues to indicate a abrupt descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Maize Production in Argentina

In value terms, maize production stood at $X in 2021 estimated in export price. Overall, production recorded a pronounced decline. The growth pace was the most rapid in 2018 when the production volume increased by X%. Maize production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

In 2021, the average yield of maize (green) in Argentina stood at less than X kg per ha, leveling off at the year before. Overall, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the harvested area of maize (green) in Argentina stood at less than X ha, standing approx. at the previous year's figure. In general, the harvested area saw a relatively flat trend pattern.

Maize Exports

Exports from Argentina

After three years of growth, shipments abroad of maize (green) decreased by -X% to X tons in 2021. In general, total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then fell notably in the following year.

In value terms, maize exports reduced rapidly to $X in 2021. Overall, exports showed a perceptible setback. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Uruguay (X tons) was the main destination for maize exports from Argentina, with a X% share of total exports. Moreover, maize exports to Uruguay exceeded the volume sent to the second major destination, Chile (X tons), sixfold.

From 2012 to 2021, the average annual growth rate of volume to Uruguay totaled +X%.

In value terms, Uruguay ($X) remains the key foreign market for maize exports from Argentina, comprising X% of total exports. The second position in the ranking was taken by Chile ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Uruguay stood at +X%.

Export Prices by Country

The average maize export price stood at $X per ton in 2021, dropping by -X% against the previous year. Overall, the export price showed a deep reduction. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, the country with the highest price was Chile ($X per ton), while the average price for exports to Uruguay stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (+X%).

Maize Imports

Imports into Argentina

In 2021, purchases abroad of maize (green) increased by X% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports posted strong growth. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, maize imports soared to $X in 2021. In general, imports recorded a perceptible expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest maize supplier to Argentina, accounting for a X% share of total imports. Moreover, maize imports from the United States exceeded the figures recorded by the second-largest supplier, Chile (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+X% per year) and Brazil (+X% per year).

In value terms, the United States ($X), Chile ($X) and Brazil ($X) were the largest maize suppliers to Argentina, together comprising X% of total imports.

Brazil, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average maize import price stood at $X per ton in 2021, growing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced descent. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Chile ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform