China: Preserved Sweet Corn Market 2023

Preserved Sweet Corn Market Size in China

The Chinese preserved sweet corn market was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption, however, recorded a perceptible reduction. Preserved sweet corn consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Preserved Sweet Corn Production in China

In value terms, preserved sweet corn production soared to $X in 2021 estimated in export price. Over the period under review, the total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -15.8% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 39% against the previous year. Preserved sweet corn production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Preserved Sweet Corn Exports

Exports from China

In 2021, after three years of growth, there was significant decline in shipments abroad of sweet corn prepared or preserved, when their volume decreased by -24.8% to X tons. Overall, total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 54% against the previous year. The exports peaked at X tons in 2020, and then shrank dramatically in the following year.

In value terms, preserved sweet corn exports dropped remarkably to $X in 2021. Over the period under review, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 40% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria (X tons), Germany (X tons) and the United States (X tons) were the main destinations of preserved sweet corn exports from China, with a combined 25% share of total exports. These countries were followed by Russia, Colombia, Jordan, Japan, Algeria, Lebanon, Costa Rica, Iraq, the Dominican Republic and Sweden, which together accounted for a further 38%.

From 2012 to 2021, the biggest increases were in Iraq (with a CAGR of +40.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved sweet corn exported from China were Germany ($X), the United States ($X) and Nigeria ($X), with a combined 29% share of total exports. These countries were followed by Japan, Russia, Jordan, Colombia, Lebanon, the Dominican Republic, Iraq, Algeria, Costa Rica and Sweden, which together accounted for a further 36%.

In terms of the main countries of destination, Iraq, with a CAGR of +41.9%, saw the highest rates of growth with regard to 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 2021, the average preserved sweet corn export price amounted to $X per ton, reducing by -3.3% against the previous year. In general, export price indicated a measured increase from 2012 to 2021: its price 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, preserved sweet corn export price decreased by -24.7% against 2019 indices. The growth pace was the most rapid in 2017 when the average export price increased by 36%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to Algeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sweet Corn Imports

Imports into China

After two years of decline, supplies from abroad of sweet corn prepared or preserved increased by 34% to X tons in 2021. In general, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -24.1% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 35% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved sweet corn imports soared to $X in 2021. Overall, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.4% 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 -15.4% against 2018 indices. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Thailand (X tons) was the main preserved sweet corn supplier to China, accounting for a 95% share of total imports. It was followed by the United States (X tons), with a 2.4% share of total imports. The third position in this ranking was held by South Korea (X tons), with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand totaled +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.0% per year) and South Korea (+32.7% per year).

In value terms, Thailand ($X) constituted the largest supplier of preserved sweet corn to China, comprising 88% of total imports. The second position in the ranking was taken by the United States ($X), with a 7.1% share of total imports. It was followed by South Korea, with a 2.6% share.

From 2012 to 2021, the average annual growth rate of value from Thailand totaled +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+6.5% per year) and South Korea (+28.3% per year).

Import Prices by Country

The average preserved sweet corn import price stood at $X per ton in 2021, rising by 8.1% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 13% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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