EU: Maize Market 2023

Maize Market Size in the EU

The EU maize market amounted to $X in 2021, stabilizing at the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Maize Production in the EU

In value terms, maize production contracted to $X in 2021 estimated in export price. In general, production showed a slight expansion. The most prominent rate of growth was recorded in 2013 with an increase of 39% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2021 were Romania (X tons), France (X tons) and Hungary (X tons), together comprising 52% of total production.

From 2012 to 2021, the biggest increases were in Romania (with a CAGR of +10.1%), while production for the other leaders experienced more modest paces of growth.

The average maize yield amounted to X tons per ha in 2021, increasing by 4.1% against the previous year's figure. The yield figure increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the yield increased by 15% against the previous year. The level of yield peaked at X tons per ha in 2018; however, from 2019 to 2021, 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 dropped to X ha in 2021, shrinking by -2.4% on the year before. Over the period under review, the harvested area saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the harvested area increased by 8% against the previous year. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2021, the harvested area stood at a somewhat lower figure.

Maize Exports

Exports in the EU

After four years of growth, shipments abroad of maize decreased by -1.4% to X tons in 2021. Total exports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +66.5% against 2016 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 29%. As a result, the exports attained the peak of X tons, and then contracted modestly in the following year.

In value terms, maize exports soared to $X in 2021. Total exports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +75.3% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Romania (X tons), distantly followed by France (X tons), Hungary (X tons), Poland (X tons) and Bulgaria (X tons) were the major exporters of maize, together constituting 78% of total exports. Croatia (X tons), Germany (X tons), Slovenia (X tons), Slovakia (X tons), the Czech Republic (X tons), Austria (X tons) and the Netherlands (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Croatia (with a CAGR of +27.3%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), France ($X) and Hungary ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 62% share of total exports. These countries were followed by Poland, Bulgaria, Germany, Austria, Croatia, the Netherlands, Slovakia, Slovenia and the Czech Republic, which together accounted for a further 33%.

Slovenia, with a CAGR of +24.3%, saw the highest growth rate of the value of exports, in terms of 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 the European Union stood at $X per ton in 2021, rising by 26% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 28% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Austria ($X per ton), while the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+4.4%), while the other leaders experienced more modest paces of growth.

Maize Imports

Imports in the EU

In 2021, purchases abroad of maize decreased by -7.6% to X tons, falling for the second consecutive year after three years of growth. Total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +4.3% 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 -15.2% against 2019 indices. The growth pace was the most rapid in 2018 when imports increased by 19%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, maize imports soared to $X in 2021. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when imports increased by 22%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, Spain (X tons), distantly followed by Italy (X tons), the Netherlands (X tons), Germany (X tons), Portugal (X tons) and Belgium (X tons) represented the major importers of maize, together committing 79% of total imports. Ireland (X tons), Austria (X tons), Romania (X tons), Greece (X tons) and Slovenia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Slovenia (with a CAGR of +17.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest maize importing markets in the European Union were Spain ($X), the Netherlands ($X) and Italy ($X), with a combined 52% share of total imports. Germany, Belgium, Portugal, Romania, Ireland, Austria, Greece and Slovenia lagged somewhat behind, together accounting for a further 35%.

Slovenia, with a CAGR of +17.8%, recorded the highest growth rate of the value of imports, in terms of 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 2021, the import price in the European Union amounted to $X per ton, surging by 30% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (+0.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :