Eritrea: Maize Market 2020

Maize Market Size in Eritrea

The revenue of the maize market in Eritrea amounted to $X in 2018, rising by X% against the previous year. The market value increased at an average annual rate of +X% over the period from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when the market value increased by X% against the previous year. In that year, the maize market reached its peak level of $X. From 2009 to 2018, the growth of the maize market remained at a somewhat lower figure.

Maize Production in Eritrea

In value terms, maize production stood at $X in 2018 estimated in export prices. In general, maize production continues to indicate a measured increase. The pace of growth appeared the most rapid in 2008 with an increase of X% y-o-y. In that year, maize production attained its peak level of $X. From 2009 to 2018, maize production growth remained at a somewhat lower figure.

In 2018, the average yield of maize in Eritrea amounted to X ton per ha, surging by X% against the previous year. The yield figure increased at an average annual rate of +X% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2009 with an increase of X% y-o-y. The global maize yield peaked at X ton per ha in 2012; however, from 2013 to 2018, yield failed to regain its momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2018, the harvested area of maize in Eritrea amounted to X ha, picking up by X% against the previous year. Over the period under review, the maize harvested area continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X% year-to-year. Over the period under review, the harvested area dedicated to maize production reached its peak figure at X ha in 2011; however, from 2012 to 2018, harvested area failed to regain its momentum.

Maize Exports

Exports by Country

The U.S. was the key exporter of maize in the world, with the volume of exports recording X tons, which was near X% of total exports in 2018. Brazil (X tons) ranks second in terms of the total exports with a X% share, followed by Argentina (X%) and Ukraine (X%). The following exporters - France (X tons), Russia (X tons) and Romania (X tons) - each reached an X% share of total exports.

From 2007 to 2018, average annual rates of growth with regard to maize exports from the U.S. stood at +X%. At the same time, Ukraine (+X%), Romania (+X%), Russia (+X%), Brazil (+X%), Argentina (+X%) and France (+X%) displayed positive paces of growth. Moreover, Ukraine emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. From 2007 to 2018, the share of Brazil, Ukraine, the U.S., Argentina, Romania and Russia increased by +X%, +X%, +X%, +X%, +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) remains the largest maize supplier from Eritrea, comprising X% of global exports. The second position in the ranking was occupied by Brazil ($X), with a X% share of global exports. It was followed by Argentina, with a X% share.

From 2007 to 2018, the average annual growth rate of value in the U.S. amounted to +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+X% per year) and Argentina (+X% per year).

Export Prices by Country

The maize export price in Eritrea stood at $X per ton in 2018, leveling off at the previous year. Overall, the maize export price continues to indicate a relatively flat trend pattern. In that year, the export prices for maize reached their peak level of $X per ton. From 2009 to 2018, the growth in terms of the export prices for maize remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was France ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced a decline in the export price figures.

Maize Imports

Imports into Eritrea

In 2018, the maize imports into Eritrea amounted to X tons, coming down by -X% against the previous year. Over the period under review, maize imports continue to indicate a drastic decrease. The most prominent rate of growth was recorded in 2013 when imports increased by X% year-to-year. In that year, maize imports reached their peak of X tons. From 2014 to 2018, the growth of maize imports remained at a somewhat lower figure.

In value terms, maize imports totaled $X in 2018. Over the period under review, maize imports continue to indicate an abrupt setback. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. In that year, maize imports reached their peak of $X. From 2014 to 2018, the growth of maize imports failed to regain its momentum.

Imports by Country

Mexico (X tons) and Japan (X tons) represented roughly X% of total imports of maize in 2018. South Korea (X tons) took a X% share (based on tons) of total imports, which put it in second place, followed by Vietnam (X%), Spain (X%), Iran (X%) and Egypt (X%). The Netherlands (X tons), Italy (X tons), Colombia (X tons), Saudi Arabia (X tons) and Taiwan, Chinese (X tons) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Vietnam, while the other leaders experienced more modest paces of growth.

In value terms, the largest maize importing markets into Eritrea were Mexico ($X), Japan ($X) and South Korea ($X), with a combined X% share of total imports. These countries were followed by Vietnam, Spain, Iran, Egypt, the Netherlands, Italy, Colombia, Taiwan, Chinese, Saudi Arabia and Eritrea, which together accounted for a further X the main importing countries, Vietnam experienced the highest growth rate of imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The maize import price in Eritrea stood at $X per ton in 2018, increasing by X% against the previous year. In general, the maize import price continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2016 when the import price increased by X% year-to-year. Over the period under review, the import prices for maize reached their maximum at $X per ton in 2013; however, from 2014 to 2018, import prices failed to regain their momentum.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was the Netherlands ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Iran, while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform