Asia: Grain Market 2023

Grain Market Size in Asia

For the third year in a row, the Asian grain market recorded growth in sales value, which increased by X% to $X.7B in 2022. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Grain Production in Asia

In value terms, grain production dropped slightly to $X.1B in 2022 estimated in export price. The total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, production reached the maximum level at $X.1B in 2019; however, from 2020 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were China (X tons), India (X tons) and Indonesia (X tons), together accounting for X% of total production. Bangladesh, Pakistan, Vietnam, Thailand, Turkey, Myanmar and the Philippines lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Pakistan (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

The average grain yield declined slightly to X tons per ha in 2022, remaining constant against 2021 figures. In general, the yield, however, continues to indicate a modest increase. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, the grain yield reached the maximum level at X tons per ha in 2021, and then dropped modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of cereal grains production in Asia fell to X ha, approximately reflecting the year before. Over the period under review, the harvested area, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to grain production reached the peak figure at X ha in 2021, and then shrank in the following year.

Grain Exports

Exports in Asia

After two years of growth, overseas shipments of cereal grains decreased by X% to X tons in 2022. In general, exports, however, posted a modest increase. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then shrank slightly in the following year.

In value terms, grain exports rose significantly to $X in 2022. Overall, exports, however, showed a noticeable expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

India (X tons) and Kazakhstan (X tons) dominates exports structure, together creating X% of total exports. Myanmar (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (X%). Pakistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Turkey (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), Kazakhstan ($X) and Myanmar ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Myanmar, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Turkey ($X per ton) and Myanmar ($X per ton), while Kazakhstan ($X per ton) and Pakistan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (X%), while the other leaders experienced more modest paces of growth.

Grain Imports

Imports in Asia

After three years of growth, purchases abroad of cereal grains decreased by X% to X tons in 2022. Total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of X tons, and then shrank in the following year.

In value terms, grain imports expanded remarkably to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons), distantly followed by Japan (X tons), South Korea (X tons), Vietnam (X tons), Turkey (X tons), Saudi Arabia (X tons), Indonesia (X tons) and Iran (X tons) were the major importers of cereal grains, together comprising X% of total imports. Bangladesh (X tons), the Philippines (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons) and Yemen (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to grain imports into China stood at X%. At the same time, Bangladesh (X%), Vietnam (X%), Turkey (X%), the Philippines (X%), Taiwan (Chinese) (X%), Indonesia (X%), South Korea (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. Yemen, Saudi Arabia and Japan experienced a relatively flat trend pattern. By contrast, Iran (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), Vietnam (X p.p.), Bangladesh (X p.p.), Turkey (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (X p.p.), Saudi Arabia (X p.p.), Iran (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest grain importing markets in Asia were China ($X), Japan ($X) and South Korea ($X), together accounting for X% of total imports. Turkey, Indonesia, Vietnam, the Philippines, Saudi Arabia, Taiwan (Chinese), Iran, Bangladesh, Malaysia and Yemen lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Bangladesh, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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