India: Maize Market 2024

Maize Market Size in India

In 2022, the Indian maize market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a mild decrease. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Maize Production in India

In value terms, maize production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a prominent expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

The average yield of maize (green) in India was estimated at less than X kg per ha in 2022, almost unchanged from the year before. In general, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of maize (green) were harvested in India; leveling off at 2021 figures. Over the period under review, the harvested area saw a relatively flat trend pattern.

Maize Exports

Exports from India

In 2022, approx. X tons of maize (green) were exported from India; with a decrease of X% compared with 2021 figures. In general, total exports indicated a strong increase from 2013 to 2022: its volume increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, maize exports fell to $X in 2022. Over the period under review, total exports indicated notable growth from 2013 to 2022: its value increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2017 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Nepal (X tons) was the main destination for maize exports from India, accounting for a X% share of total exports. Moreover, maize exports to Nepal exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. Qatar (X tons) ranked third in terms of total exports with an X% share.

From 2013 to 2022, the average annual growth rate of volume to Nepal totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Qatar (X% per year).

In value terms, the UK ($X), the United Arab Emirates ($X) and Qatar ($X) constituted the largest markets for maize exported from India worldwide, together comprising X% of total exports. Singapore, Nepal, Kuwait, Maldives, Bahrain, Canada, Saudi Arabia and Oman lagged somewhat behind, together accounting for a further X%.

Nepal, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average maize export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price, however, showed a pronounced decrease. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Nepal ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (X%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Imports

Imports into India

After two years of decline, purchases abroad of maize (green) increased by X% to X tons in 2022. Over the period under review, imports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, maize imports stood at $X in 2022. Overall, imports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X tons) constituted the largest maize supplier to India, with a X% share of total imports. Moreover, maize imports from Thailand exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tons), twofold.

From 2013 to 2022, the average annual rate of growth in terms of volume from Thailand totaled X%.

In value terms, Thailand ($X) constituted the largest supplier of maize (green) to India, comprising X% of total imports. The second position in the ranking was taken by Sri Lanka ($X), with a X% share of total imports.

From 2013 to 2022, the average annual rate of growth in terms of value from Thailand amounted to X%.

Import Prices by Country

The average maize import price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, import price indicated a slight increase from 2013 to 2022: its price increased at an average annual rate of X% over the last nine years. 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 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Sri Lanka amounted to $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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