Asia-Pacific: Maize Market 2024

Maize Market Size in Asia-Pacific

In 2022, the Asia-Pacific maize market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Maize Production in Asia-Pacific

In value terms, maize production declined slightly to $X in 2022 estimated in export price. Overall, production showed a slight setback. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

China (X tons) remains the largest maize producing country in Asia-Pacific, comprising approx. X% of total volume. Moreover, maize production in China exceeded the figures recorded by the second-largest producer, India (X tons), ninefold. Indonesia (X tons) ranked third in terms of total production with a X% share.

In China, maize production increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (X% per year) and Indonesia (X% per year).

In 2022, the average yield of maize in Asia-Pacific dropped slightly to X tons per ha, stabilizing at the previous year's figure. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the yield increased by X%. The level of yield peaked at X tons per ha in 2021, and then fell slightly 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, approx. X ha of maize were harvested in Asia-Pacific; almost unchanged from 2021. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when the harvested area increased by X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2016 to 2022, the growth of the maize harvested area failed to regain momentum.

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Maize Exports

Exports in Asia-Pacific

Maize exports expanded sharply to X tons in 2022, increasing by X% on the year before. Over the period under review, exports showed a slight increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, maize exports skyrocketed to $X in 2022. Overall, exports continue to indicate a moderate expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

India represented the major exporting country with an export of about X tons, which resulted at X% of total exports. Myanmar (X tons) took the second position in the ranking, distantly followed by Pakistan (X tons). All these countries together held near X% share of total exports. Vietnam (X tons), Lao People's Democratic Republic (X tons) and Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to maize exports from India stood at X%. At the same time, Vietnam (X%), Myanmar (X%), Indonesia (X%) and Pakistan (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Lao People's Democratic Republic (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Myanmar, Pakistan and Vietnam increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest maize supplying countries in Asia-Pacific were India ($X), Myanmar ($X) and Pakistan ($X), together comprising X% of total exports.

Myanmar, with a CAGR of X%, recorded the highest growth rate of 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

The export price in Asia-Pacific stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

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

Maize Imports

Imports in Asia-Pacific

For the fifth consecutive year, Asia-Pacific recorded growth in purchases abroad of maize, which increased by X% to X tons in 2022. Total imports indicated a prominent 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 2017 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, maize imports totaled $X in 2022. Overall, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

The purchases of the five major importers of maize, namely China, Japan, South Korea, Vietnam and Taiwan (Chinese), represented more than two-thirds of total import. It was distantly followed by Malaysia (X tons), constituting a X% share of total imports. Bangladesh (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest maize importing markets in Asia-Pacific were China ($X), Japan ($X) and South Korea ($X), with a combined X% share of total imports. Vietnam, Taiwan (Chinese), Malaysia and Bangladesh lagged somewhat behind, together comprising a further X%.

Bangladesh, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, growing by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. 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 ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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