Australia: Preserved Sweet Corn Market 2024

Preserved Sweet Corn Market Size in Australia

In 2022, the Australian preserved sweet corn market decreased by -3.1% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Preserved Sweet Corn Exports

Exports from Australia

In 2022, exports of sweet corn prepared or preserved from Australia surged to X tons, picking up by 41% against the previous year's figure. In general, exports enjoyed a significant expansion. The growth pace was the most rapid in 2018 with an increase of 458%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, preserved sweet corn exports stood at $X in 2022. Overall, exports saw significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 481%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

New Zealand (X tons) was the main destination for preserved sweet corn exports from Australia, with a 86% share of total exports. Moreover, preserved sweet corn exports to New Zealand exceeded the volume sent to the second major destination, Papua New Guinea (X tons), more than tenfold. The third position in this ranking was taken by Solomon Islands (X tons), with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to New Zealand stood at +45.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+9.0% per year) and Solomon Islands (+21.4% per year).

In value terms, New Zealand ($X) remains the key foreign market for sweet corn prepared or preserved exports from Australia, comprising 83% of total exports. The second position in the ranking was taken by Papua New Guinea ($X), with a 7.9% share of total exports. It was followed by Solomon Islands, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand amounted to +46.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+10.5% per year) and Solomon Islands (+21.6% per year).

Export Prices by Country

In 2022, the average preserved sweet corn export price amounted to $X per ton, dropping by -19.6% against the previous year. Overall, the export price saw a mild setback. The growth pace was the most rapid in 2017 an increase of 47%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Papua New Guinea ($X per ton) and Solomon Islands ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and New Zealand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vanuatu (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sweet Corn Imports

Imports into Australia

In 2022, imports of sweet corn prepared or preserved into Australia shrank modestly to X tons, which is down by -4.9% on 2021. Over the period under review, imports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2013 with an increase of 65% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, preserved sweet corn imports contracted modestly to $X in 2022. The total import value increased at an average annual rate of +4.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 43%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Thailand (X tons) constituted the largest supplier of preserved sweet corn to Australia, accounting for a 85% share of total imports. Moreover, preserved sweet corn imports from Thailand exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), more than tenfold. Spain (X tons) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand totaled -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-19.5% per year) and Spain (+28.0% per year).

In value terms, Thailand ($X) constituted the largest supplier of sweet corn prepared or preserved to Australia, comprising 80% of total imports. The second position in the ranking was held by New Zealand ($X), with a 7.3% share of total imports. It was followed by Spain, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value from Thailand stood at +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-3.5% per year) and Spain (+32.9% per year).

Import Prices by Country

In 2022, the average preserved sweet corn import price amounted to $X per ton, surging by 3.4% against the previous year. In general, the import price saw buoyant growth. The most prominent rate of growth was recorded in 2017 an increase of 62%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+19.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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