Australia and Oceania: Maize Market 2023

Maize Market Size in Australia and Oceania

The maize market in Australia and Oceania stood at $X in 2021, with an increase of 1.7% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 6.4%. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Maize Production in Australia and Oceania

In value terms, maize production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 38%. As a result, production attained the peak level of $X, and then shrank in the following year.

Papua New Guinea (X tons) remains the largest maize producing country in Australia and Oceania, comprising approx. 66% of total volume. Moreover, maize production in Papua New Guinea exceeded the figures recorded by the second-largest producer, Australia (X tons), threefold.

In Papua New Guinea, maize production remained relatively stable over the period from 2012-2021. The remaining producing countries recorded the following average annual rates of production growth: Australia (+3.0% per year) and New Zealand (-10.1% per year).

The average maize yield expanded modestly to X tons per ha in 2021, surging by 2.9% on the previous year's figure. Overall, the yield recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the yield increased by 7.7% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2020 to 2021, the growth of the maize yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, approx. X ha of maize (green) were harvested in Australia and Oceania; picking up by 4.3% compared with 2020. Over the period under review, the harvested area, however, recorded a slight decline. The growth pace was the most rapid in 2014 with an increase of 5.9% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2015 to 2021, the growth of the maize harvested area remained at a lower figure.

Maize Exports

Exports in Australia and Oceania

In 2021, overseas shipments of maize (green) increased by 22% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports showed prominent growth. The pace of growth was the most pronounced in 2013 when exports increased by 38%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, maize exports skyrocketed to $X in 2021. Total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +9.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when exports increased by 48%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Australia (X tons) represented roughly 99% of total exports in 2021.

Australia was also the fastest-growing in terms of the maize (green) exports, with a CAGR of +9.5% from 2012 to 2021. While the share of Australia (+9.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) also remains the largest maize supplier in Australia and Oceania.

In Australia, maize exports expanded at an average annual rate of +9.3% over the period from 2012-2021.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2021, increasing by 12% against the previous year. Export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, maize export price increased by +79.3% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the export price increased by 42% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Australia.

From 2012 to 2021, the rate of growth in terms of prices for Australia amounted to -0.2% per year.

Maize Imports

Imports in Australia and Oceania

In 2021, approx. X tons of maize (green) were imported in Australia and Oceania; rising by 32% on 2020. Total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -27.1% against 2019 indices. The growth pace was the most rapid in 2013 when imports increased by 68%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, maize imports surged to $X in 2021. The total import value increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 35% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

New Zealand represented the main importing country with an import of around X tons, which amounted to 55% of total imports. Papua New Guinea (X tons) held a 14% share (based on physical terms) of total imports, which put it in second place, followed by Australia (10%) and New Caledonia (9.9%). Marshall Islands (X tons), Guam (X tons) and French Polynesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to maize imports into New Zealand stood at +1.9%. At the same time, Papua New Guinea (+50.8%), Marshall Islands (+46.4%), New Caledonia (+14.0%) and Guam (+12.6%) displayed positive paces of growth. Moreover, Papua New Guinea emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +50.8% from 2012-2021. By contrast, Australia (-3.2%) and French Polynesia (-11.7%) illustrated a downward trend over the same period. Papua New Guinea (+14 p.p.), New Caledonia (+5.8 p.p.), Marshall Islands (+3.6 p.p.) and Guam (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while New Zealand, French Polynesia and Australia saw its share reduced by -7.2%, -7.6% and -8.4% from 2012 to 2021, respectively.

In value terms, New Zealand ($X) constitutes the largest market for imported maize (green) in Australia and Oceania, comprising 58% of total imports. The second position in the ranking was taken by Australia ($X), with a 23% share of total imports. It was followed by Papua New Guinea, with a 6.2% share.

In New Zealand, maize imports expanded at an average annual rate of +3.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Australia (+8.2% per year) and Papua New Guinea (+40.8% per year).

Import Prices by Country

In 2021, the import price in Australia and Oceania amounted to $X per ton, flattening at the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2020 an increase of 28% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Australia ($X per ton), while Marshall Islands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+11.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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