Ireland: Maize Market Overview 2021

Maize Market Size in Ireland

The Irish maize market rose notably to $X in 2020, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated noticeable growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2014 when the market value increased by X% against the previous year. Maize consumption peaked in 2020 and is expected to retain growth in years to come.

Maize Exports

Exports from Ireland

In 2020, exports of maize (green) from Ireland surged to X tonnes, rising by X% on the previous year's figure. Over the period under review, exports enjoyed significant growth. As a result, exports reached the peak and are likely to continue growth in the immediate term.

In value terms, maize exports skyrocketed to $X in 2020. Overall, exports showed a strong expansion. As a result, exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X tonnes) was the main destination for maize exports from Ireland, accounting for a X% share of total exports. Moreover, maize exports to the UK exceeded the volume sent to the second major destination, Spain (X tonnes), more than tenfold.

From 2007 to 2020, the average annual rate of growth in terms of volume to the UK totaled +X%.

In value terms, the UK ($X) remains the key foreign market for maize exports from Ireland, comprising X% of total exports. The second position in the ranking was occupied by Spain ($X), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of value to the UK amounted to +X%.

Export Prices by Country

In 2020, the average maize export price amounted to $X per tonne, growing by X% against the previous year. Overall, the export price, however, showed a deep downturn. The pace of growth was the most pronounced in 2019 an increase of X% year-to-year. The export price peaked at $X per tonne in 2007; however, from 2008 to 2020, export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2020, the country with the highest price was the UK ($X per tonne), while the average price for exports to Spain amounted to $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Spain.

Maize Imports

Imports into Ireland

In 2020, imports of maize (green) into Ireland soared to X tonnes, jumping by X% compared with the year before. In general, total imports indicated buoyant growth from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, maize imports rose significantly to $X in 2020. Overall, total imports indicated a temperate increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Imports peaked in 2020 and are expected to retain growth in the near future.

Imports by Country

In 2020, the UK (X tonnes) constituted the largest supplier of maize to Ireland, accounting for a X% share of total imports. Moreover, maize imports from the UK exceeded the figures recorded by the second-largest supplier, the Netherlands (X tonnes), threefold. Spain (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from the UK amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+X% per year) and Spain (+X% per year).

In value terms, the UK ($X) constituted the largest supplier of maize to Ireland, comprising X% of total imports. The second position in the ranking was occupied by the Netherlands ($X), with a X% share of total imports. It was followed by Spain, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from the UK was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+X% per year) and Spain (+X% per year).

Import Prices by Country

The average maize import price stood at $X per tonne in 2020, with a decrease of -X% against the previous year. Overall, the import price recorded a slight descent. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% y-o-y. Over the period under review, average import prices attained the peak figure at $X per tonne in 2013; however, from 2014 to 2020, import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Morocco ($X per tonne), while the price for Germany ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by India, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform