Asia-Pacific: Maize Market 2025

Maize Market Size in Asia-Pacific

The Asia-Pacific maize market declined modestly to $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Maize Production in Asia-Pacific

In value terms, maize production fell slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 15% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Indonesia (X tons), China (X tons) and Thailand (X tons), together accounting for 64% of total production. Papua New Guinea, Japan, India and Australia lagged somewhat behind, together comprising a further 32%.

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.

In 2022, the average maize yield in Asia-Pacific shrank slightly to X tons per ha, which is down by -4.6% compared with 2021 figures. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 10% against the previous year. Over the period under review, the maize yield hit record highs at X tons per ha in 2019; however, from 2020 to 2022, the yield stood at a somewhat lower figure. 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 Asia-Pacific; therefore, remained relatively stable against 2021 figures. The harvested area increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 7.9%. The level of harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area stood at a somewhat lower figure.

Maize Exports

Exports in Asia-Pacific

Maize exports reduced to X tons in 2022, with a decrease of -13.2% on the year before. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 38% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, maize exports shrank to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +8.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +1.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 49%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China represented the main exporter of maize (green) in Asia-Pacific, with the volume of exports finishing at X tons, which was approx. 51% of total exports in 2022. India (X tons) held the second position in the ranking, distantly followed by Thailand (X tons), Malaysia (X tons) and Pakistan (X tons). All these countries together held near 44% share of total exports.

Exports from China decreased at an average annual rate of -4.9% from 2012 to 2022. At the same time, India (+5.4%), Thailand (+5.3%) and Pakistan (+2.4%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +5.4% from 2012-2022. By contrast, Malaysia (-4.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and Thailand increased by +23 and +4.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest maize supplier in Asia-Pacific, comprising 58% of total exports. The second position in the ranking was taken by India ($X), with a 13% share of total exports. It was followed by Thailand, with a 12% 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

The export price in Asia-Pacific stood at $X per ton in 2022, surging by 15% against the previous year. Export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +9.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize export price increased by +137.9% against 2012 indices. The most prominent rate of growth was recorded in 2014 when the export price increased by 26%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

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 ($X per ton), while Pakistan ($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-Pacific

In 2022, after four years of growth, there was significant decline in overseas purchases of maize (green), when their volume decreased by -6.8% to X tons. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +7.6% 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 +77.8% against 2017 indices. The pace of growth was the most pronounced in 2013 with an increase of 46% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then fell in the following year.

In value terms, maize imports shrank to $X in 2022. Over the period under review, imports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2020 with an increase of 36% against the previous year. The level of import peaked at $X in 2021, and then contracted in the following year.

Imports by Country

Hong Kong SAR was the main importer of maize (green) in Asia-Pacific, with the volume of imports reaching X tons, which was near 48% of total imports in 2022. Singapore (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (12%), Nepal (7.6%) and Afghanistan (5.8%). Macao SAR (X tons) and South Korea (X tons) followed a long way behind the leaders.

Imports into Hong Kong SAR increased at an average annual rate of +11.4% from 2012 to 2022. At the same time, Nepal (+38.8%), Malaysia (+11.2%), Afghanistan (+4.7%) and Macao SAR (+4.7%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +38.8% from 2012-2022. Singapore experienced a relatively flat trend pattern. By contrast, South Korea (-4.0%) illustrated a downward trend over the same period. Hong Kong SAR (+14 p.p.), Nepal (+7.1 p.p.) and Malaysia (+3.5 p.p.) significantly strengthened its position in terms of the total imports, while Afghanistan, South Korea and Singapore saw its share reduced by -1.8%, -4.2% and -13.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported maize (green) in Asia-Pacific, comprising 60% of total imports. The second position in the ranking was held by Singapore ($X), with a 14% share of total imports. It was followed by Malaysia, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Hong Kong SAR totaled +30.2%. In the other countries, the average annual rates were as follows: Singapore (+4.7% per year) and Malaysia (+7.8% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, with an increase of 4.7% against the previous year. Import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize import price increased by +58.0% against 2018 indices. The pace of growth was the most pronounced in 2020 when the import price increased by 22% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Nepal ($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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