Asia: Maize Market 2025

Maize Market Size in Asia

The Asian maize market reduced modestly to $X in 2022, declining by -2% against the previous year. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Maize Production in Asia

In value terms, maize production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Indonesia (X tons), China (X tons) and Thailand (X tons), with a combined 59% share of total production. Iran, Japan, India and Israel lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +20.6%), while production for the other leaders experienced more modest paces of growth.

The average maize yield reduced slightly to X tons per ha in 2022, which is down by -4% compared with 2021 figures. Overall, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the yield increased by 9.4%. As a result, the yield reached the peak level of X tons per ha. From 2014 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, the maize harvested area in Asia shrank to X ha, flattening at 2021 figures. The harvested area increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 9.7%. The level of harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area remained at a lower figure.

Maize Exports

Exports in Asia

After two years of decline, overseas shipments of maize (green) increased by 7.1% to X tons in 2022. The total export volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 43%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, maize exports reached $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -17.7% against 2017 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 34%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, China (X tons), distantly followed by Iran (X tons), India (X tons) and Thailand (X tons) represented the largest exporters of maize (green), together creating 76% of total exports. The following exporters - Uzbekistan (X tons), Malaysia (X tons), Oman (X tons) and Pakistan (X tons) - together made up 15% 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 Iran (with a CAGR of +23.9%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest maize supplier in Asia, comprising 49% of total exports. The second position in the ranking was taken by India ($X), with an 11% share of total exports. It was followed by Thailand, with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +9.4%. In the other countries, the average annual rates were as follows: India (+2.7% per year) and Thailand (+2.3% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, falling by -5.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.6%. The pace of growth was the most pronounced in 2021 when the export price increased by 31% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted in the following year.

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 Thailand ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+15.0%), while the other leaders experienced more modest paces of growth.

Maize Imports

Imports in Asia

For the fifth consecutive year, Asia recorded growth in overseas purchases of maize (green), which increased by 0.1% to X tons in 2022. Total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +98.7% against 2012 indices. The most prominent rate of growth was recorded in 2013 with an increase of 34%. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, maize imports contracted to $X in 2022. In general, imports showed a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 22% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

Hong Kong SAR represented the key importer of maize (green) in Asia, with the volume of imports recording X tons, which was approx. 35% of total imports in 2022. The United Arab Emirates (X tons) took the second position in the ranking, followed by Singapore (X tons), Malaysia (X tons) and Nepal (X tons). All these countries together held approx. 40% share of total imports. Afghanistan (X tons), Saudi Arabia (X tons), Kuwait (X tons), Macao SAR (X tons) and Kazakhstan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to maize imports into Hong Kong SAR stood at +11.4%. At the same time, Nepal (+38.8%), Kuwait (+19.1%), the United Arab Emirates (+17.2%), Malaysia (+11.2%), Saudi Arabia (+10.6%), Afghanistan (+4.7%), Macao SAR (+4.7%) and Kazakhstan (+1.9%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Asia, with a CAGR of +38.8% from 2012-2022. Singapore experienced a relatively flat trend pattern. From 2012 to 2022, the share of Hong Kong SAR, the United Arab Emirates, Nepal, Malaysia and Kuwait increased by +11, +9, +5.2, +2.9 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported maize (green) in Asia, comprising 49% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total imports. It was followed by Singapore, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Hong Kong SAR stood at +30.2%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+9.1% per year) and Singapore (+4.7% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, falling by -2.4% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the import price increased by 12% against the previous year. The level of import peaked at $X per ton in 2021, and then reduced in the following year.

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 Hong Kong SAR ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+16.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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