GCC: Maize Market 2025

Maize Market Size in GCC

In 2022, after six years of growth, there was significant decline in the GCC maize market, when its value decreased by -77.8% to $X. In general, consumption showed a abrupt shrinkage. As a result, consumption reached the peak level of $X, and then shrank markedly in the following year.

Maize Production in GCC

In value terms, maize production expanded notably to $X in 2022 estimated in export price. In general, production, however, showed a drastic downturn. The pace of growth was the most pronounced in 2020 with an increase of 67% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of maize production was Saudi Arabia (X tons), comprising approx. 51% of total volume. Moreover, maize production in Saudi Arabia exceeded the figures recorded by the second-largest producer, the United Arab Emirates (X tons), twofold. The third position in this ranking was held by Kuwait (X tons), with a 14% share.

In Saudi Arabia, maize production decreased by an average annual rate of -4.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+20.8% per year) and Kuwait (-2.7% per year).

The average maize yield expanded modestly to X tons per ha in 2022, growing by 2.4% compared with 2021. In general, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the yield increased by 31% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2020 to 2022, the growth of the maize yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of maize production in GCC contracted modestly to X ha, approximately reflecting the year before. Overall, the harvested area showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the harvested area increased by 57% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2019 to 2022, the growth of the maize harvested area remained at a lower figure.

Maize Exports

Exports in GCC

In 2022, the amount of maize exported in GCC shrank to X tons, which is down by -11% against 2021 figures. In general, exports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2015 when exports increased by 1,386%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, maize exports rose remarkably to $X in 2022. Over the period under review, exports, however, saw significant growth. The pace of growth was the most pronounced in 2015 with an increase of 1,077% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, the United Arab Emirates (X tons) represented the main exporter of maize, mixing up 82% of total exports. It was distantly followed by Oman (X tons), constituting an 18% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +16.1% from 2012 to 2022. At the same time, Oman (+20.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +20.7% from 2012-2022. While the share of Oman (+5.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-3.5 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest maize supplier in GCC, comprising 89% of total exports. The second position in the ranking was held by Oman ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled +23.8%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, picking up by 25% against the previous year. Export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize export price increased by +29.7% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the export price increased by 32% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.7%).

Maize Imports

Imports in GCC

In 2022, the amount of maize imported in GCC dropped rapidly to X tons, waning by -71.2% against 2021. Overall, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of 16%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, maize imports declined notably to $X in 2022. In general, imports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when imports increased by 17%. As a result, imports reached the peak of $X, and then shrank rapidly in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) and Oman (X tons) represented the main importers of maize in GCC, together committing 81% of total imports. It was distantly followed by Kuwait (X tons), comprising a 13% share of total imports. Qatar (X tons) and Bahrain (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +11.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest maize importing markets in GCC were the United Arab Emirates ($X), Oman ($X) and Kuwait ($X), together accounting for 90% of total imports. Qatar and Bahrain lagged somewhat behind, together comprising a further 9.6%.

In terms of the main importing countries, Qatar, with a CAGR of +10.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, declining by -22.7% against the previous year. Over the period under review, the import price saw a noticeable shrinkage. The pace of growth was the most pronounced in 2021 an increase of 41% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahrain ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform