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World - Maize - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

World - Maize - Market Analysis, Forecast, Size, Trends and Insights

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Feb 16, 2022

Record Production in 2022 to Curb Corn Price Growth

IndexBox has just published a new report: 'World - Maize - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

In 2022, corn prices are projected to drop by approximately 10% y/y due to an expected all-time record high global production, which is to reach 1.2B tons. This forecast is subject to a number of risks, such as volatile fertilizer and energy prices, high freight rates, biofuel policies and weather conditions.

Corn prices are forecast to ease in 2022 due to a sharp increase in global production. The world's corn output is to soar by 7% y/y to a record 1.2B tons with higher crops in the U.S. and South America. Production in Brazil is expected to rise by 31% y/y to 114M tons, fully recovering from the last year's 15%-drop caused by a drought. Argentine farmers are to harvest 54M tons of corn, 5% more than a year earlier. U.S. production will grow by 7% y/y to 384M tons.

Crop increases are also forecast in China, the E.U., Indonesia, Mexico, Nigeria, South Africa. Significant output growth is projected in Russia and Ukraine, where corn production is to rise by 8% y/y to 15M tons and by 39% y/y to 42M tons, respectively.

According to World Bank data, the average annual price for U.S. corn (no. 2, yellow, FOB, U.S. Gulf ports) grew by 57% y-o-y to $260 per ton in 2021. This year, the price is projected to drop by approx. 10% y/y with sufficient supply, but rising fertilizer and energy prices, logistic tensions, changing biofuel policies and weather conditions still pose risks on price stability.

World's Largest Corn Importers

In 2020, approx. 146M tons of maize were imported worldwide, remaining relatively unchanged against the previous year. In value terms, maize imports stood at $35.9B (IndexBox estimates).

Japan (16M tons), Vietnam (12M tons), South Korea (12M tons), China (11M tons), Egypt (8.5M tons), Spain (8.1M tons), Colombia (6.2M tons), Italy (6.1M tons), the Netherlands (5.9M tons), Taiwan (Chinese) (4.4M tons), Malaysia (3.8M tons) and Germany (3.8M tons) represented the major importer of maize in the world, generating 67% of total volume. Peru (3.8M tons) followed a long way behind the leaders.

The most notable growth rate of purchases, amongst the leading importing countries, was attained by China. Its volume of imports grew twofold in 2020.

In value terms, Japan ($3.3B), China ($2.5B) and Vietnam ($2.4B) appeared to be the countries with the highest levels of purchases in 2020, together comprising 23% of global imports.

In 2020, the average maize import price amounted to $246 per ton, stabilizing at the previous year. Average prices varied somewhat amongst the major importing countries. In 2020, major importing countries recorded the following prices: in Germany ($265 per ton) and the Netherlands ($224 per ton), while Colombia ($198 per ton) and Vietnam ($198 per ton) were amongst the lowest. The most notable rate of growth in terms of prices was attained by Germany, while the other global leaders experienced more modest paces of growth in 2020.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global maize market. 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 56 - Maize

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Company coverage:

Viterra, Cargill, Bunge, Dreyfus, Archer Daniels Midland Company, Krasnodaragroalliance, TPK Varna, Maize Corporation, Westland Corporation, Kyodo Yushi Manufacturing Americas, ICAMED, SEA, Genesis Harvest Trade & Co, Adjacent Properties Corp, Genuine Energy Inc, UBiquitousGCS LLC International Import Export, F. Garcia, Calgrain Corporation, Star Trading Inc., Dcosta Padma, Monzelle Commodities, Daah Volta Farms, Triumph Global, Agtrium International, Leo Taurus Corp., Macvern Distribution Limited, Adjacent Properties Corp.

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. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY
    3. HARVESTED AREA AND YIELD BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Harvested Area, By Country, 2012-2023
    7. Yield, By Country, 2012-2023
    8. Imports, In Physical Terms, By Country, 2012–2023
    9. Imports, In Value Terms, By Country, 2012–2023
    10. Import Prices, By Country Of Destination, 2012–2023
    11. Exports, In Physical Terms, By Country, 2012–2023
    12. Exports, In Value Terms, By Country, 2012–2023
    13. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Yield And Growth
    12. Exports And Growth
    13. Export Prices And Growth
    14. Market Size And Growth
    15. Per Capita Consumption
    16. Imports And Growth
    17. Import Prices
    18. Production, In Physical Terms, 2012–2023
    19. Production, In Value Terms, 2012–2023
    20. Area Harvested, 2012–2023
    21. Yield, 2012–2023
    22. Production, By Country, 2023
    23. Production, In Physical Terms, By Country, 2012–2023
    24. Harvested Area, By Country, 2023
    25. Harvested Area, By Country, 2012-2023
    26. Yield, By Country, 2012-2023
    27. Imports, In Physical Terms, 2012–2023
    28. Imports, In Value Terms, 2012–2023
    29. Imports, In Physical Terms, By Country, 2023
    30. Imports, In Physical Terms, By Country, 2012–2023
    31. Imports, In Value Terms, By Country, 2012–2023
    32. Import Prices, By Country, 2012–2023
    33. Exports, In Physical Terms, 2012–2023
    34. Exports, In Value Terms, 2012–2023
    35. Exports, In Physical Terms, By Country, 2023
    36. Exports, In Physical Terms, By Country, 2012–2023
    37. Exports, In Value Terms, By Country, 2012–2023
    38. Export Prices, 2012–2023

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