Denmark: Maize Market 2024

Maize Market Size in Denmark

In 2022, after six years of growth, there was significant decline in the Danish maize market, when its value decreased by -15% to $X. Over the period under review, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +66.6% against 2015 indices. As a result, consumption attained the peak level of $X, and then contracted significantly in the following year.

Maize Exports

Exports from Denmark

In 2022, overseas shipments of maize (green) increased by 9.8% to X tons, rising for the fifth consecutive year after two years of decline. Overall, exports, however, recorded a mild reduction. The pace of growth was the most pronounced in 2014 with an increase of 68% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, maize exports declined modestly to $X in 2022. In general, exports, however, continue to indicate a perceptible downturn. The growth pace was the most rapid in 2018 when exports increased by 39% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X tons), Norway (X tons) and Faroe Islands (X tons) were the main destinations of maize exports from Denmark, together comprising 78% of total exports. Greenland, Finland, the Netherlands, Italy and Germany lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +54.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for maize exported from Denmark were Sweden ($X), Norway ($X) and Faroe Islands ($X), together accounting for 76% of total exports. The Netherlands, Greenland, Finland, Germany and Italy lagged somewhat behind, together accounting for a further 23%.

Finland, with a CAGR of +60.1%, saw the highest rates of growth with regard to 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

The average maize export price stood at $X per ton in 2022, falling by -9.6% against the previous year. Over the period under review, the export price continues to indicate a pronounced downturn. The pace of growth was the most pronounced in 2017 when the average export price increased by 56%. The export price peaked at $X per ton in 2018; however, from 2019 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 Germany ($X per ton), while the average price for exports to Italy ($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 Italy (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Imports

Imports into Denmark

After three years of growth, supplies from abroad of maize (green) decreased by -7.6% to X tons in 2022. Over the period under review, imports, however, saw a mild increase. The most prominent rate of growth was recorded in 2021 when imports increased by 13%. As a result, imports attained the peak of X tons, and then contracted in the following year.

In value terms, maize imports fell to $X in 2022. Overall, total imports indicated a modest expansion 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 +69.4% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of 27% against the previous year. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

The Netherlands (X tons), Italy (X tons) and Spain (X tons) were the main suppliers of maize imports to Denmark, with a combined 76% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +5.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of maize (green) to Denmark, comprising 47% of total imports. The second position in the ranking was held by Italy ($X), with a 22% share of total imports. It was followed by Sweden, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands totaled +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.0% per year) and Sweden (+1.9% per year).

Import Prices by Country

The average maize import price stood at $X per ton in 2022, dropping by -6.9% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 17%. The import price peaked at $X per ton in 2021, and then reduced in the following year.

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 Sweden ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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