Asia: Maize Market 2025

Maize Market Size in Asia

The Asian maize market expanded rapidly to $X in 2022, increasing by 8.2% against the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.8% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Maize Production in Asia

In value terms, maize production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2020 when the production volume increased by 229%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

China (X tons) constituted the country with the largest volume of maize production, comprising approx. 72% of total volume. Moreover, maize production in China exceeded the figures recorded by the second-largest producer, India (X tons), ninefold. The third position in this ranking was taken by Indonesia (X tons), with a 6% share.

In China, maize production expanded at an average annual rate of +2.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+3.1% per year) and Indonesia (+1.4% per year).

In 2022, the average yield of maize in Asia declined slightly to X tons per ha, remaining stable against the year before. The yield figure increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2015 when the yield increased by 3.5%. The level of yield peaked at X tons per ha in 2021, and then declined slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of maize production in Asia shrank slightly to X ha, leveling off at the previous year. The harvested area increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2015 when the harvested area increased by 12%. As a result, the harvested area reached the peak level of X ha. From 2016 to 2022, the growth of the maize harvested area remained at a lower figure.

Maize Exports

Exports in Asia

In 2022, shipments abroad of maize increased by 11% to X tons, rising for the third consecutive year after two years of decline. Overall, exports showed a modest increase. The pace of growth appeared the most rapid in 2020 when exports increased by 61% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in years to come.

In value terms, maize exports skyrocketed to $X in 2022. In general, exports enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2021 with an increase of 77% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

India represented the key exporter of maize in Asia, with the volume of exports recording X tons, which was near 48% of total exports in 2022. Myanmar (X tons) held the second position in the ranking, distantly followed by Pakistan (X tons) and Turkey (X tons). All these countries together took approx. 40% share of total exports. Vietnam (X tons) and Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

Exports from India decreased at an average annual rate of -2.1% from 2012 to 2022. At the same time, Vietnam (+42.2%), Turkey (+36.8%), Myanmar (+16.9%) and Pakistan (+8.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +42.2% from 2012-2022. By contrast, Lao People's Democratic Republic (-3.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Myanmar, Turkey, Pakistan and Vietnam increased by +16, +7, +5.2 and +3.6 percentage points, respectively.

In value terms, India ($X), Myanmar ($X) and Pakistan ($X) were the countries with the highest levels of exports in 2022, together comprising 78% of total exports. Turkey, Vietnam and Lao People's Democratic Republic lagged somewhat behind, together comprising a further 14%.

Vietnam, with a CAGR of +25.5%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, increasing by 11% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2021 when the export price increased by 18% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+3.5%), while the other leaders experienced more modest paces of growth.

Maize Imports

Imports in Asia

In 2022, the amount of maize imported in Asia rose modestly to X tons, picking up by 2% compared with 2021. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.5% 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 +74.8% against 2013 indices. The pace of growth was the most pronounced in 2021 when imports increased by 13% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, maize imports rose slightly to $X in 2022. Overall, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 57%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

The purchases of the four major importers of maize, namely China, Japan, South Korea and Vietnam, represented more than half of total import. Iran (X tons) took the next position in the ranking, followed by Taiwan (Chinese) (X tons). All these countries together took near 12% share of total imports. The following importers - Malaysia (X tons), Turkey (X tons), Bangladesh (X tons) and Thailand (X tons) - together made up 12% of total imports.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +25.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest maize importing markets in Asia were China ($X), Japan ($X) and South Korea ($X), together comprising 61% of total imports. Vietnam, Iran, Turkey, Taiwan (Chinese), Malaysia, Thailand and Bangladesh lagged somewhat behind, together comprising a further 27%.

In terms of the main importing countries, Thailand, with a CAGR of +28.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 39%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :