Canada: Maize Market 2024

Maize Market Size in Canada

For the sixth consecutive year, the Canadian maize market recorded growth in sales value, which increased by 12% to $X in 2022. In general, consumption, however, saw a noticeable slump. Maize consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Maize Production in Canada

In value terms, maize production expanded slightly to $X in 2022 estimated in export price. Overall, production recorded a abrupt downturn. The pace of growth appeared the most rapid in 2015 when the production volume increased by 20% against the previous year. Maize production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

In 2022, the average yield of maize in Canada dropped to X tons per ha, falling by -2.1% against the year before. In general, the yield, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the yield increased by 9.8%. As a result, the yield reached the peak level of X tons per ha. From 2016 to 2022, the growth of the average maize 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.

The maize harvested area in Canada was estimated at X ha in 2022, approximately reflecting 2021. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the harvested area increased by 7.3% against the previous year. The maize harvested area peaked at X ha in 2013; however, from 2014 to 2022, the harvested area remained at a lower figure.

Maize Exports

Exports from Canada

In 2022, overseas shipments of maize increased by 23% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports posted a buoyant expansion. The growth pace was the most rapid in 2016 when exports increased by 196% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, maize exports soared to $X in 2022. In general, exports showed a strong increase. The most prominent rate of growth was recorded in 2016 when exports increased by 124% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Ireland (X tons) was the main destination for maize exports from Canada, accounting for a 35% share of total exports. Moreover, maize exports to Ireland exceeded the volume sent to the second major destination, the UK (X tons), twofold. The third position in this ranking was held by Spain (X tons), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Ireland totaled +18.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+123.6% per year) and Spain (+18.9% per year).

In value terms, the largest markets for maize exported from Canada were Ireland ($X), the United States ($X) and Spain ($X), together comprising 65% of total exports. The UK, Portugal, Japan and the Netherlands lagged somewhat behind, together comprising a further 33%.

The UK, with a CAGR of +121.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average maize export price amounted to $X per ton, picking up by 15% against the previous year. In general, the export price, however, saw a perceptible contraction. The pace of growth appeared the most rapid in 2021 when the average export price increased by 33%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the UK ($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 the Netherlands (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Imports

Imports into Canada

Maize imports into Canada skyrocketed to X tons in 2022, rising by 71% against 2021 figures. Overall, imports continue to indicate significant growth. The pace of growth was the most pronounced in 2018 with an increase of 88%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, maize imports soared to $X in 2022. In general, imports showed a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 81% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, the United States (X tons) was the main supplier of maize to Canada, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +22.6%.

In value terms, the United States ($X) constituted the largest supplier of maize to Canada.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +17.0%.

Import Prices by Country

In 2022, the average maize import price amounted to $X per ton, picking up by 3.4% against the previous year. In general, the import price, however, showed a pronounced slump. The most prominent rate of growth was recorded in 2021 an increase of 14% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -4.5% per year.

Source: IndexBox Platform

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