Bahrain: Maize Market 2024

Maize Market Size in Bahrain

The Bahraini maize market skyrocketed to $X in 2022, jumping by 25% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a relatively flat trend pattern. Maize consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Maize Exports

Exports from Bahrain

In 2022, shipments abroad of maize was finally on the rise to reach X tons after two years of decline. Over the period under review, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 5,619% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, maize exports surged to $X in 2022. Overall, exports saw a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 1,681%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Pakistan (X tons) was the main destination for maize exports from Bahrain, accounting for a 88% share of total exports. Moreover, maize exports to Pakistan exceeded the volume sent to the second major destination, Saudi Arabia (X tons), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Pakistan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+80.5% per year) and Oman (-73.6% per year).

In value terms, Pakistan ($X) emerged as the key foreign market for maize exports from Bahrain, comprising 73% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Pakistan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+61.8% per year) and Oman (-57.5% per year).

Export Prices by Country

The average maize export price stood at $X per ton in 2022, declining by -68.4% against the previous year. In general, the export price showed a abrupt contraction. The growth pace was the most rapid in 2015 an increase of 121%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+61.0%).

Maize Imports

Imports into Bahrain

In 2022, maize imports into Bahrain soared to X tons, surging by 23% compared with 2021 figures. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 63% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, maize imports surged to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 56%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Pakistan (X tons) constituted the largest maize supplier to Bahrain, accounting for a 63% share of total imports. Moreover, maize imports from Pakistan exceeded the figures recorded by the second-largest supplier, Argentina (X tons), fourfold. The United States (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Pakistan stood at +197.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-7.3% per year) and the United States (+53.0% per year).

In value terms, Pakistan ($X) constituted the largest supplier of maize to Bahrain, comprising 58% of total imports. The second position in the ranking was held by Argentina ($X), with a 19% share of total imports. It was followed by the United States, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Pakistan amounted to +223.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-3.9% per year) and the United States (+31.7% per year).

Import Prices by Country

In 2022, the average maize import price amounted to $X per ton, picking up by 6.4% against the previous year. Overall, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% 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 decreased by -19.4% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the average import price increased by 117% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a lower figure.

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 the United Arab Emirates ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform