GCC: Maize Market 2024

Maize Market Size in GCC

In 2022, the GCC maize market decreased by X% to $X, falling for the fourth consecutive year after seven years of growth. The total consumption indicated a slight expansion 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, consumption decreased by X% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Maize Production in GCC

In value terms, maize production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Oman (X tons) constituted the country with the largest volume of maize production, accounting for X% of total volume. Moreover, maize production in Oman exceeded the figures recorded by the second-largest producer, Saudi Arabia (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Oman totaled X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Qatar (X% per year).

In 2022, the average maize yield in GCC stood at X tons per ha, with an increase of X% compared with 2021 figures. In general, the yield, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2019 when the yield increased by X%. The level of yield peaked at X tons per ha in 2012; however, from 2013 to 2022, the yield stood 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 2022, the maize harvested area in GCC stood at X ha, flattening at 2021. In general, the harvested area 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% against the previous year. The level of harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area stood at a somewhat lower figure.

Maize Exports

Exports in GCC

In 2022, shipments abroad of maize (green) was finally on the rise to reach X tons after four years of decline. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, maize exports soared to $X in 2022. Total exports indicated modest growth 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. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Oman (X tons) was the key exporter of maize (green), creating X% of total exports. Saudi Arabia (X tons) ranks second in terms of the total exports with a X% share, followed by the United Arab Emirates (X%).

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest maize supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), with a combined X% share of total exports.

Among the main exporting countries, the United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, jumping by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced mixed trends in the export price figures.

Maize Imports

Imports in GCC

In 2022, supplies from abroad of maize (green) increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, maize imports contracted significantly to $X in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the largest importer of maize (green), creating X% of total imports. Kuwait (X tons) ranks second in terms of the total imports with a X% share, followed by Saudi Arabia (X%) and Bahrain (X%). The following importers - Oman (X tons) and Qatar (X tons) - together made up X% of total imports.

The United Arab Emirates 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, Saudi Arabia (X%) and Bahrain (X%) displayed positive paces of growth. Kuwait experienced a relatively flat trend pattern. By contrast, Oman (X%) and Qatar (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Kuwait (X p.p.), Bahrain (X p.p.) and Saudi Arabia (X p.p.) significantly strengthened its position in terms of the total imports, while Oman and Qatar saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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

The import price in GCC stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the import price saw a deep setback. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Kuwait ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :