Report Latin America and the Caribbean - Maize (Green) - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Jan 22, 2023

Latin America and the Caribbean - Maize (Green) - Market Analysis, Forecast, Size, Trends and Insights

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Latin America and the Caribbean: Maize Market 2023

Maize Market Size in Latin America and the Caribbean

The Latin American maize market declined to $X in 2021, waning by -13.1% against the previous year. Over the period under review, consumption showed a mild shrinkage. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Maize Production in Latin America and the Caribbean

In value terms, maize production fell to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 50%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Mexico (X tons) remains the largest maize producing country in Latin America and the Caribbean, accounting for 57% of total volume. Moreover, maize production in Mexico exceeded the figures recorded by the second-largest producer, Peru (X tons), twofold. Chile (X tons) ranked third in terms of total production with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume in Mexico stood at +2.9%. The remaining producing countries recorded the following average annual rates of production growth: Peru (+1.5% per year) and Chile (-2.4% per year).

In 2021, the average yield of maize (green) in Latin America and the Caribbean dropped to X tons per ha, approximately reflecting 2020 figures. The yield figure increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2017 when the yield increased by 14%. As a result, the yield attained the peak level of X tons per ha. From 2018 to 2021, the growth of the maize 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.

In 2021, approx. X ha of maize (green) were harvested in Latin America and the Caribbean; leveling off at the previous year. Overall, the harvested area, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 7.3% against the previous year. Over the period under review, the harvested area dedicated to maize production attained the peak figure at X ha in 2016; however, from 2017 to 2021, the harvested area remained at a lower figure.

Maize Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of maize (green) increased by 93% to X tons, rising for the fourth year in a row after two years of decline. Overall, exports saw a resilient increase. The pace of growth was the most pronounced in 2013 when exports increased by 98% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, maize exports surged to $X in 2021. Over the period under review, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 107% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Mexico dominates exports structure, resulting at X tons, which was near 77% of total exports in 2021. Costa Rica (X tons) took a 7.5% share (based on physical terms) of total exports, which put it in second place, followed by Honduras (7.2%) and Guatemala (4.9%). Nicaragua (X tons) followed a long way behind the leaders.

Exports from Mexico increased at an average annual rate of +15.4% from 2012 to 2021. At the same time, Honduras (+19.7%), Nicaragua (+9.3%) and Costa Rica (+2.7%) displayed positive paces of growth. Moreover, Honduras emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +19.7% from 2012-2021. Guatemala experienced a relatively flat trend pattern. Mexico (+17 p.p.) and Honduras (+3.1 p.p.) significantly strengthened its position in terms of the total exports, while Guatemala and Costa Rica saw its share reduced by -8.4% and -9.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest maize supplier in Latin America and the Caribbean, comprising 66% of total exports. The second position in the ranking was held by Honduras ($X), with a 14% share of total exports. It was followed by Costa Rica, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico amounted to +19.1%. In the other countries, the average annual rates were as follows: Honduras (+30.3% per year) and Costa Rica (+6.5% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, waning by -40% against the previous year. Over the period under review, the export price, however, saw a moderate expansion. The pace of growth was the most pronounced in 2016 when the export price increased by 88%. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nicaragua (+9.9%), while the other leaders experienced more modest paces of growth.

Maize Imports

Imports in Latin America and the Caribbean

In 2021, purchases abroad of maize (green) decreased by -11.1% to X tons, falling for the second consecutive year after two years of growth. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -12.1% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 45% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, maize imports rose markedly to $X in 2021. Over the period under review, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 67%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

El Salvador represented the largest importer of maize (green) in Latin America and the Caribbean, with the volume of imports amounting to X tons, which was near 39% of total imports in 2021. Mexico (X tons) ranks second in terms of the total imports with a 20% share, followed by Paraguay (7%), Cayman Islands (5.2%) and Uruguay (5.2%). Jamaica (X tons), Aruba (X tons), Ecuador (X tons), Bahamas (X tons), Curacao (X tons), Haiti (X tons) and Colombia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Paraguay (with a CAGR of +73.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported maize (green) in Latin America and the Caribbean, comprising 35% of total imports. The second position in the ranking was taken by Cayman Islands ($X), with a 15% share of total imports. It was followed by El Salvador, with a 10% share.

In Mexico, maize imports expanded at an average annual rate of +17.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cayman Islands (+15.7% per year) and El Salvador (+15.3% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, rising by 22% against the previous year. Import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, maize import price increased by +77.3% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 40% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Cayman Islands ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for maize (green) in LatAmerica and the Caribbean?
+
The countries with the highest volumes of consumption in 2021 were Mexico, Peru and Chile, with a combined 92% share of total consumption. These countries were followed by El Salvador and Bolivia, which together accounted for a further 5.8%.
What are the largest producers of maize (green) in LatAmerica and the Caribbean?
+
Mexico remains the largest maize producing country in Latin America and the Caribbean, comprising approx. 57% of total volume. Moreover, maize production in Mexico exceeded the figures recorded by the second-largest producer, Peru, twofold. The third position in this ranking was taken by Chile, with an 8.3% share.
What are the leading suppliers of maize (green) in LatAmerica and the Caribbean?
+
In value terms, Mexico remains the largest maize supplier in Latin America and the Caribbean, comprising 66% of total exports. The second position in the ranking was held by Honduras, with a 14% share of total exports. It was followed by Costa Rica, with a 6.7% share.
What are the leading importers of maize (green) in LatAmerica and the Caribbean?
+
In value terms, Mexico constitutes the largest market for imported maize green) in Latin America and the Caribbean, comprising 35% of total imports. The second position in the ranking was taken by Cayman Islands, with a 15% share of total imports. It was followed by El Salvador, with a 10% share.
What is the average export price for maize (green) in LatAmerica and the Caribbean?
+
In 2021, the export price in Latin America and the Caribbean amounted to $932 per ton, falling by -40% against the previous year.
What is the average import price for maize (green) in LatAmerica and the Caribbean?
+
The import price in Latin America and the Caribbean stood at $1,117 per ton in 2021, picking up by 22% against the previous year.

This report provides an in-depth analysis of the maize market in Latin America and the Caribbean. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• FCL 446 - Green Corn (Maize)
Country coverage:
• Anguilla
• Antigua and Barbuda
• Aruba
• Bahamas
• Belize
• British Virgin Islands
• Cayman Islands
• Costa Rica
• Curacao
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Saint Kitts and Nevis
• Saint Lucia
• Saint Maarten (Dutch part)
• Saint Vincent and the Grenadines
• Suriname
• Turks and Caicos Islands
• United States Virgin Islands

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in Latin America and the Caribbean, split by region and country
• Trade (exports and imports) in Latin America and the Caribbean
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
7.3
HARVESTED AREA AND YIELD BY COUNTRY
8. IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

• Anguilla
• Antigua and Barbuda
• Argentina
• Aruba
• Bahamas
• Barbados
• Belize
• Bolivia
• Brazil
• British Virgin Islands
• Cayman Islands
• Chile
• Colombia
• Costa Rica
• Cuba
• Curacao
• Dominica
• Dominican Republic
• Ecuador
• El Salvador
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Mexico
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Peru
• Saint Kitts and Nevis
• Saint Lucia
• Saint Vincent and the Grenadines
• Saint Maarten (Dutch part)
• Suriname
• Trinidad and Tobago
• Turks and Caicos Islands
• United States Virgin Islands
• Uruguay
• Venezuela
• Puerto Rico
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption, By Country, 2018–2022
Table 5:
Production, In Physical Terms, By Country, 2012–2022
Table 6:
Harvested Area, By Country, 2007-2022
Table 7:
Yield, By Country, 2007-2022
Table 8:
Imports, In Physical Terms, By Country, 2012–2022
Table 9:
Imports, In Value Terms, By Country, 2012–2022
Table 10:
Import Prices, By Country Of Destination, 2012–2022
Table 11:
Exports, In Physical Terms, By Country, 2012–2022
Table 12:
Exports, In Value Terms, By Country, 2012–2022
Table 13:
Export Prices, By Country Of Origin, 2012–2022
Table 14:
Producer Prices, By Major Producing Country, 2022
Table 15:
Producer Prices Index - Annual Data (2004-2006=100), By Major Producing Country
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Consumption, By Country, 2022
Figure 4:
Market Forecast To 2030
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Yield And Growth
Figure 11:
Exports And Growth
Figure 12:
Export Prices And Growth
Figure 13:
Market Size And Growth
Figure 14:
Per Capita Consumption
Figure 15:
Imports And Growth
Figure 16:
Import Prices
Figure 17:
Production, In Physical Terms, 2012–2022
Figure 18:
Production, In Value Terms, 2012–2022
Figure 19:
Area Harvested, 2012–2022
Figure 20:
Yield, 2012–2022
Figure 21:
Production, By Country, 2022
Figure 22:
Production, In Physical Terms, By Country, 2012–2022
Figure 23:
Harvested Area, By Country, 2022
Figure 24:
Harvested Area, By Country, 2007-2022
Figure 25:
Yield, By Country, 2007-2022
Figure 26:
Imports, In Physical Terms, 2012–2022
Figure 27:
Imports, In Value Terms, 2012–2022
Figure 28:
Imports, In Physical Terms, By Country, 2022
Figure 29:
Imports, In Physical Terms, By Country, 2012–2022
Figure 30:
Imports, In Value Terms, By Country, 2012–2022
Figure 31:
Import Prices, By Country, 2012–2022
Figure 32:
Exports, In Physical Terms, 2012–2022
Figure 33:
Exports, In Value Terms, 2012–2022
Figure 34:
Exports, In Physical Terms, By Country, 2022
Figure 35:
Exports, In Physical Terms, By Country, 2012–2022
Figure 36:
Exports, In Value Terms, By Country, 2012–2022
Figure 37:
Export Prices, 2012–2022
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