Saudi Arabia: Maize Market 2022

Maize Market Size in Saudi Arabia

The Saudi maize market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption showed a resilient expansion. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Maize Exports

Exports from Saudi Arabia

In 2021, approx. X tons of maize (green) were exported from Saudi Arabia; increasing by X% on the previous year. Over the period under review, exports, however, recorded a pronounced descent. The pace of growth was the most pronounced in 2015 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 2021, the exports stood at a somewhat lower figure.

In value terms, maize exports stood at $X in 2021. In general, exports saw a slight increase. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Kuwait (X tons), Bahrain (X tons) and the United Arab Emirates (X tons) were the main destinations of maize exports from Saudi Arabia, with a combined X% share of total exports. Oman lagged somewhat behind, accounting for a further X 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for maize exported from Saudi Arabia were the United Arab Emirates ($X), Kuwait ($X) and Bahrain ($X), with a combined X% share of total exports. These countries were followed by Oman, which accounted for a further X the main countries of destination, Oman, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average maize export price amounted to $X per ton, dropping by -X% against the previous year. Over the period under review, the export price, however, recorded buoyant growth. The growth pace was the most rapid in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Oman ($X per ton), while the average price for exports to Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Imports

Imports into Saudi Arabia

In 2021, the amount of maize (green) imported into Saudi Arabia expanded markedly to X tons, surging by X% on the year before. In general, imports posted prominent growth. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, maize imports surged to $X in 2021. Over the period under review, imports continue to indicate temperate growth. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Jordan (X tons) constituted the largest maize supplier to Saudi Arabia, with a X% share of total imports. Moreover, maize imports from Jordan exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold. Bangladesh (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Jordan stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-X% per year) and Bangladesh (-X% per year).

In value terms, Jordan ($X) constituted the largest supplier of maize to Saudi Arabia, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Bangladesh, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Jordan totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-X% per year) and Bangladesh (+X% per year).

Import Prices by Country

The average maize import price stood at $X per ton in 2021, surging by X% against the previous year. Overall, the import price, however, recorded a deep reduction. The pace of growth was the most pronounced in 2018 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Bangladesh ($X per ton), while the price for Jordan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :