Eastern Asia: Maize Market 2024

Maize Market Size in Eastern Asia

In 2022, the East Asian maize market decreased by X% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Maize Production in Eastern Asia

In value terms, maize production shrank to $X in 2022 estimated in export price. In general, production saw a perceptible curtailment. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of maize production was China (X tons), accounting for X% of total volume. Moreover, maize production in China exceeded the figures recorded by the second-largest producer, Japan (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest.

The average maize yield fell to X tons per ha in 2022, waning by X% compared with 2021 figures. Overall, the yield showed a pronounced slump. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of yield peaked at X tons per ha in 2012; however, from 2013 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The maize harvested area shrank to X ha in 2022, remaining stable against 2021. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to maize production reached the peak figure at X ha in 2021, and then fell modestly in the following year.

Maize Exports

Exports in Eastern Asia

For the fifth consecutive year, Eastern Asia recorded decline in shipments abroad of maize (green), which decreased by X% to X tons in 2022. In general, exports recorded a pronounced slump. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, maize exports stood at $X in 2022. Overall, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of maize (green), namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the maize (green) exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest maize supplier in Eastern Asia.

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

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price showed prominent growth. The pace of growth was the most pronounced in 2014 an increase of X%. The level of export peaked in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Maize Imports

Imports in Eastern Asia

After five years of growth, supplies from abroad of maize (green) decreased by X% to X tons in 2022. Over the period under review, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then declined modestly in the following year.

In value terms, maize imports declined slightly to $X in 2022. Overall, imports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The level of import peaked at $X in 2021, and then contracted modestly in the following year.

Imports by Country

Hong Kong SAR prevails in imports structure, resulting at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Macao SAR (X tons), mixing up a X% share of total imports. South Korea (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

Hong Kong SAR was also the fastest-growing in terms of the maize (green) imports, with a CAGR of X% from 2012 to 2022. At the same time, Macao SAR (X%) displayed positive paces of growth. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, South Korea (X%) and Japan (X%) illustrated a downward trend over the same period. While the share of Hong Kong SAR (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Taiwan (Chinese) (X p.p.), Macao SAR (X p.p.), Japan (X p.p.) and South Korea (X p.p.) displayed negative dynamics.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported maize (green) in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

In Hong Kong SAR, maize imports 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: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, standing approx. at the previous year. Import price indicated a resilient expansion 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, maize import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Macao SAR ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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