Asia: Maize Market Overview 2021

Maize Market Size in Asia

In 2020, the Asian maize market decreased by -X% to $X, falling for the second year in a row after two years of growth. In general, consumption continues to indicate a mild downturn. The pace of growth was the most pronounced in 2017 when the market value increased by X% year-to-year. Over the period under review, the market attained the maximum level at $X in 2008; however, from 2009 to 2020, consumption failed to regain the momentum.

Maize Production in Asia

In value terms, maize production shrank significantly to $X in 2020 estimated in export prices. Overall, production showed a noticeable decrease. The pace of growth appeared the most rapid in 2017 with an increase of X% year-to-year. The level of production peaked at $X in 2008; however, from 2009 to 2020, production failed to regain the momentum.

The countries with the highest volumes of maize production in 2020 were Indonesia (X tonnes), Thailand (X tonnes) and Japan (X tonnes), together accounting for X% of total production. China, Iran, Israel and India lagged somewhat behind, together accounting for a further X 2007 to 2020, the most notable rate of growth in terms of maize production, amongst the main producing countries, was attained by China, while maize production for the other leaders experienced more modest paces of growth.

In 2020, the average yield of maize (green) in Asia rose to X tonnes per ha, surging by X% against the year before. The yield figure increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of X% y-o-y. The level of yield peaked in 2020 and is likely to see steady growth in years to come. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2020, the total area harvested in terms of maize (green) production in Asia reached X ha, therefore, remained relatively stable against the year before. The harvested area increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of X% y-o-y. The level of harvested area peaked at X ha in 2018; however, from 2019 to 2020, the harvested area remained at a lower figure.

Production By Country in Asia

The countries with the highest volumes of maize production in 2020 were Indonesia (X tonnes), Thailand (X tonnes) and Japan (X tonnes), with a combined X% share of total production. These countries were followed by China, Iran, Israel and India, which together accounted for a further X 2007 to 2020, the biggest increases were in China, while maize production for the other leaders experienced more modest paces of growth.

Maize Exports

Exports in Asia

For the fourth year in a row, Asia recorded decline in overseas shipments of maize (green), which decreased by -X% to X tonnes in 2020. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2012 with an increase of X% against the previous year. The volume of export peaked at X tonnes in 2014; however, from 2015 to 2020, exports failed to regain the momentum.

In value terms, maize exports fell to $X in 2020. Overall, exports, however, showed a slight reduction. The growth pace was the most rapid in 2012 with an increase of X% against the previous year. Over the period under review, exports reached the peak figure at $X in 2014; however, from 2015 to 2020, exports failed to regain the momentum.

Exports by Country

Thailand (X tonnes), Oman (X tonnes), India (X tonnes), Uzbekistan (X tonnes), Iran (X tonnes) and Malaysia (X tonnes) represented roughly X% of total exports of maize (green) in 2020. It was distantly followed by Israel (X tonnes), committing a X% share of total exports. Saudi Arabia (X tonnes), the United Arab Emirates (X tonnes), Turkey (X tonnes), Jordan (X tonnes), the Philippines (X tonnes) and Sri Lanka (X tonnes) followed a long way behind the leaders.

From 2007 to 2020, the biggest increases were in the United Arab Emirates, while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Thailand ($X) and Israel ($X) appeared to be the countries with the highest levels of exports in 2020, with a combined X% share of total exports.

Among the main exporting countries, India saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the maize export price in Asia amounted to $X per tonne, falling by -X% against the previous year. In general, the export price continues to indicate a slight decline. The most prominent rate of growth was recorded in 2015 when the export price increased by X% year-to-year. Over the period under review, export prices hit record highs at $X per tonne in 2011; however, from 2012 to 2020, export prices failed to regain the momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was India ($X per tonne), while Oman ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Saudi Arabia, while the other leaders experienced more modest paces of growth.

Maize Imports

Imports in Asia

In 2020, maize imports in Asia soared to X tonnes, with an increase of X% on the previous year. Total imports indicated buoyant growth from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2007 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, maize imports soared to $X in 2020. Over the period under review, imports continue to indicate a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Hong Kong SAR represented the key importing country with an import of around X tonnes, which reached X% of total imports. The United Arab Emirates (X tonnes) ranks second in terms of the total imports with a X% share, followed by Singapore (X%), Malaysia (X%) and Kuwait (X%). Saudi Arabia (X tonnes), Afghanistan (X tonnes), Macao SAR (X tonnes), South Korea (X tonnes), Thailand (X tonnes) and Bahrain (X tonnes) followed a long way behind the leaders.

From 2007 to 2020, average annual rates of growth with regard to maize imports into Hong Kong SAR stood at +X%. At the same time, Kuwait (+X%), the United Arab Emirates (+X%), Bahrain (+X%), Saudi Arabia (+X%), Macao SAR (+X%), Thailand (+X%) and Malaysia (+X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in Asia, with a CAGR of +X% from 2007-2020. Singapore experienced a relatively flat trend pattern. By contrast, Afghanistan (-X%) and South Korea (-X%) illustrated a downward trend over the same period. From 2007 to 2020, the share of Hong Kong SAR, the United Arab Emirates and Kuwait increased by +X%, +X% and +X% percentage points, while South Korea (-X p.p.), Afghanistan (-X p.p.) and Singapore (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported maize (green) in Asia, comprising X% of total imports. The second position in the ranking was occupied by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Singapore, with a X% share.

In Hong Kong SAR, maize imports expanded at an average annual rate of +X% over the period from 2007-2020. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+X% per year) and Singapore (+X% per year).

Import Prices by Country

The maize import price in Asia stood at $X per tonne in 2020, surging by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of destination; the country with the highest price was Kuwait ($X per tonne), while Thailand ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Hong Kong SAR, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform