Eastern Asia: Grain Market 2024

Grain Market Size in Eastern Asia

The East Asian grain market fell slightly to $X in 2022, approximately mirroring the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2021, and then dropped modestly in the following year.

Grain Production in Eastern Asia

In value terms, grain production fell to $X in 2022 estimated in export price. The total production indicated a modest increase 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 most prominent rate of growth was recorded in 2017 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

China (X tons) remains the largest grain producing country in Eastern Asia, comprising approx. X% of total volume. It was followed by Japan (X tons), with a X% share of total production.

In China, grain production expanded at an average annual rate of X% over the period from 2012-2022.

The average grain yield contracted to X tons per ha in 2022, stabilizing at 2021 figures. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the yield increased by X% against the previous year. The level of yield peaked at X tons per ha in 2021, and then fell 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 harvested area of cereal grains in Eastern Asia shrank to X ha, approximately equating the previous year's figure. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the harvested area increased by X%. As a result, the harvested area reached the peak level of X ha. From 2016 to 2022, the growth of the grain harvested area remained at a lower figure.

Grain Exports

Exports in Eastern Asia

For the third consecutive year, Eastern Asia recorded decline in overseas shipments of cereal grains, which decreased by X% to X tons in 2022. Overall, exports faced a abrupt setback. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, grain exports reduced to $X in 2022. Over the period under review, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China dominates exports structure, amounting to X tons, which was near X% of total exports in 2022. South Korea (X tons) and Taiwan (Chinese) (X tons) took a minor share of total exports.

Exports from China decreased at an average annual rate of X% from 2012 to 2022. At the same time, South Korea (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. South Korea (X p.p.) and Taiwan (Chinese) (X p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest grain supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the export price recorded buoyant growth. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. 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 China ($X per ton), while Taiwan (Chinese) ($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 a decline in the export price figures.

Grain Imports

Imports in Eastern Asia

In 2022, overseas purchases of cereal grains increased by X% to X tons, rising for the third year in a row after four years of decline. Total imports indicated a strong 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 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, grain imports expanded markedly to $X in 2022. Over the period under review, imports recorded strong growth. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) represented the main importer of cereal grains, creating X% of total imports. It was distantly followed by Japan (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons), together achieving a X% share of total imports.

China was also the fastest-growing in terms of the cereal grains imports, with a CAGR of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) and South Korea (X%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. From 2012 to 2022, the share of China increased by X percentage points.

In value terms, the largest grain importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined X% share of total imports.

In terms of the main importing countries, China, with a CAGR of X%, recorded 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 Eastern Asia stood at $X per ton in 2022, increasing by X% against the previous year. Import price indicated a modest increase from 2012 to 2022: its price 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, grain import price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($X per ton) and South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) and China ($X per ton) were 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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