Belarus: Maize Market 2024

Maize Market Size in Belarus

The Belarusian maize market declined to $X in 2022, waning by -4.8% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Maize consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Maize Production in Belarus

In value terms, maize production contracted rapidly to $X in 2022 estimated in export price. Overall, production showed a noticeable decrease. The growth pace was the most rapid in 2016 when the production volume increased by 281%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average yield of maize in Belarus dropped to X tons per ha, therefore, remained relatively stable against the year before. Over the period under review, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 37%. The maize yield peaked at X tons per ha in 2018; however, from 2019 to 2022, the yield failed to regain momentum. 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 were harvested in Belarus; waning by -1.9% compared with the previous year's figure. Overall, the harvested area, however, recorded a slight expansion. The most prominent rate of growth was recorded in 2016 with an increase of 143% against the previous year. The maize harvested area peaked at X ha in 2021, and then declined modestly in the following year.

Maize Exports

Exports from Belarus

Maize exports from Belarus surged to X tons in 2022, with an increase of 50% against 2021. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 4,008% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, maize exports surged to $X in 2022. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 1,530% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Lithuania (X tons), Latvia (X tons) and Norway (X tons) were the main destinations of maize exports from Belarus, with a combined 96% share of total exports. Estonia lagged somewhat behind, accounting for a further 1.8%.

From 2012 to 2022, the biggest increases were recorded for Estonia (with a CAGR of +80.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X) remains the key foreign market for maize exports from Belarus, comprising 51% of total exports. The second position in the ranking was held by Latvia ($X), with a 24% share of total exports. It was followed by Norway, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Lithuania totaled +34.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+31.8% per year) and Norway (+33.1% per year).

Export Prices by Country

The average maize export price stood at $X per ton in 2022, which is down by -2.3% against the previous year. Overall, the export price recorded a abrupt contraction. The pace of growth appeared the most rapid in 2015 an increase of 62% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Lithuania ($X per ton) and Latvia ($X per ton), while the average price for exports to Norway ($X per ton) and Estonia ($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 Denmark (+4.8%), while the prices for the other major destinations experienced mixed trend patterns.

Maize Imports

Imports into Belarus

In 2022, after two years of decline, there was significant growth in purchases abroad of maize, when their volume increased by 24% to X tons. Overall, imports, however, continue to indicate a noticeable shrinkage. The growth pace was the most rapid in 2019 with an increase of 133%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, maize imports rose slightly to $X in 2022. Over the period under review, total imports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.7% 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 +6.9% against 2020 indices. The pace of growth was the most pronounced in 2019 when imports increased by 51%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Russia (X tons) constituted the largest maize supplier to Belarus, with a 67% share of total imports. Moreover, maize imports from Russia exceeded the figures recorded by the second-largest supplier, Moldova (X tons), more than tenfold. Ukraine (X tons) ranked third in terms of total imports with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia amounted to +34.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Moldova (+1.7% per year) and Ukraine (-26.8% per year).

In value terms, Russia ($X) constituted the largest supplier of maize to Belarus, comprising 20% of total imports. The second position in the ranking was held by Moldova ($X), with a 9.2% share of total imports. It was followed by France, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia stood at +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Moldova (+1.3% per year) and France (-4.4% per year).

Import Prices by Country

In 2022, the average maize import price amounted to $X per ton, reducing by -17.2% against the previous year. Overall, the import price, however, enjoyed a noticeable increase. The growth pace was the most rapid in 2015 when the average import price increased by 106%. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, 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 Romania ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+11.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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