Australia: Frozen Sweet Corn Market 2024

Frozen Sweet Corn Market Size in Australia

For the third consecutive year, the Australian frozen sweet corn market recorded growth in sales value, which increased by 11% to $X in 2021. Overall, consumption, however, recorded a noticeable contraction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Frozen Sweet Corn Exports

Exports from Australia

In 2021, approx. X tons of frozen sweet corn were exported from Australia; shrinking by -40.4% on 2020 figures. Overall, exports continue to indicate a sharp slump. The pace of growth was the most pronounced in 2013 with an increase of 320% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, frozen sweet corn exports plummeted to $X in 2021. Over the period under review, exports showed a dramatic setback. The pace of growth was the most pronounced in 2013 when exports increased by 334% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for frozen sweet corn exports from Australia, accounting for a 60% share of total exports. Moreover, frozen sweet corn exports to the United Arab Emirates exceeded the volume sent to the second major destination, Indonesia (X tons), fivefold. The third position in this ranking was taken by Papua New Guinea (X tons), with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates amounted to -4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-9.6% per year) and Papua New Guinea (-22.4% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for frozen sweet corn exports from Australia, comprising 65% of total exports. The second position in the ranking was held by Indonesia ($X), with a 15% share of total exports. It was followed by Papua New Guinea, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates amounted to -6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-13.2% per year) and Papua New Guinea (-27.2% per year).

Export Prices by Country

In 2021, the average frozen sweet corn export price amounted to $X per ton, increasing by 12% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average export price increased by 27% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Nauru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+2.1%), while the prices for the other major destinations experienced a decline.

Frozen Sweet Corn Imports

Imports into Australia

In 2021, supplies from abroad of frozen sweet corn increased by 5.7% to X tons, rising for the third year in a row after three years of decline. Over the period under review, imports, however, showed a perceptible curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 19% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, frozen sweet corn imports rose rapidly to $X in 2021. Overall, imports, however, showed a noticeable setback. The most prominent rate of growth was recorded in 2017 when imports increased by 24%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, New Zealand (X tons) constituted the largest supplier of frozen sweet corn to Australia, with a 63% share of total imports. Moreover, frozen sweet corn imports from New Zealand exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by Vietnam (X tons), with a 6.9% share.

From 2012 to 2021, the average annual growth rate of volume from New Zealand stood at -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-8.6% per year) and Vietnam (+9.6% per year).

In value terms, New Zealand ($X) constituted the largest supplier of frozen sweet corn to Australia, comprising 62% of total imports. The second position in the ranking was taken by China ($X), with a 14% share of total imports. It was followed by Vietnam, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from New Zealand totaled -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.0% per year) and Vietnam (+14.7% per year).

Import Prices by Country

The average frozen sweet corn import price stood at $X per ton in 2021, with an increase of 6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2017 an increase of 49%. Over the period under review, average import prices reached the maximum in 2021 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from Belgium ($X per ton) and Thailand ($X per ton), while the price for China ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :