South-Eastern Asia: Maize Market 2024

Maize Market Size in South-Eastern Asia

The Southeast Asian maize market stood at $X in 2022, picking up by X% against the previous year. Overall, consumption continues to indicate a prominent increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Maize Production in South-Eastern Asia

In value terms, maize production reduced to $X in 2022 estimated in export price. In general, production recorded a buoyant expansion. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Indonesia (X tons) remains the largest maize producing country in South-Eastern Asia, comprising approx. X% of total volume. Moreover, maize production in Indonesia exceeded the figures recorded by the second-largest producer, Thailand (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume in Indonesia stood at X%.

In 2022, the average yield of maize (green) in South-Eastern Asia declined to X tons per ha, dropping by X% against the previous year. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the yield reached the peak level of X tons per ha. From 2015 to 2022, 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 2022, approx. X ha of maize (green) were harvested in South-Eastern Asia; picking up by X% against the year before. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area failed to regain momentum.

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Maize Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of maize (green) were exported in South-Eastern Asia; waning by X% on the year before. In general, exports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, maize exports contracted to $X in 2022. Over the period under review, exports, however, recorded a measured increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Thailand represented the main exporter of maize (green) in South-Eastern Asia, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Malaysia (X tons), generating a X% share of total exports. The Philippines (X tons), Indonesia (X tons) and Vietnam (X tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Thailand (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Thailand ($X) remains the largest maize supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by the Philippines, with a X% share.

In Thailand, maize exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and the Philippines (X% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, falling by X% against the previous year. In general, the export price continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2014 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Maize Imports

Imports in South-Eastern Asia

In 2022, approx. X tons of maize (green) were imported in South-Eastern Asia; surging by X% against the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, maize imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Singapore was the largest importer of maize (green) in South-Eastern Asia, with the volume of imports finishing at X tons, which was near X% of total imports in 2022. Malaysia (X tons) held the second position in the ranking, distantly followed by Thailand (X tons) and Brunei Darussalam (X tons). All these countries together held near X% share of total imports.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of maize (green). At the same time, Brunei Darussalam (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Brunei Darussalam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.) and Brunei Darussalam (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported maize (green) in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

In Singapore, maize imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2019 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

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 Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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