Greece: Maize Market 2025

Maize Market Size in Greece

In 2022, the Greek maize market decreased by -2.2% to $X, falling for the fourth year in a row after four years of growth. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Maize Production in Greece

In value terms, maize production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the production volume increased by 18% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The average yield of maize in Greece dropped to X tons per ha in 2022, which is down by -4.2% compared with the previous year. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 9.2% against the previous year. Over the period under review, the average maize yield reached the maximum level at X tons per ha in 2015; however, from 2016 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 Greece; flattening at the previous year's figure. Over the period under review, the harvested area showed a deep slump. The most prominent rate of growth was recorded in 2021 when the harvested area increased by 2.8% 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 Greece

In 2022, overseas shipments of maize increased by 43% to X tons, rising for the third year in a row after seven years of decline. In general, exports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of 44% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, maize exports skyrocketed to $X in 2022. Overall, exports, however, showed a abrupt contraction. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Bulgaria (X tons), Italy (X tons) and Cyprus (X tons) were the main destinations of maize exports from Greece, with a combined 96% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of -4.1%), while shipments for the other leaders experienced a decline.

In value terms, Italy ($X), Bulgaria ($X) and Cyprus ($X) were the largest markets for maize exported from Greece worldwide, with a combined 83% share of total exports.

Among the main countries of destination, Bulgaria, with a CAGR of -2.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average maize export price stood at $X per ton in 2022, with an increase of 17% against the previous year. Overall, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 an increase of 28%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Bulgaria ($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 (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Imports

Imports into Greece

In 2022, imports of maize into Greece fell to X tons, dropping by -10.7% against 2021 figures. Over the period under review, imports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2013 when imports increased by 68%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, maize imports reached $X in 2022. Overall, imports, however, showed resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 53% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Bulgaria (X tons) constituted the largest maize supplier to Greece, accounting for a 41% share of total imports. Moreover, maize imports from Bulgaria exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), twofold. The third position in this ranking was taken by Russia (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Bulgaria stood at +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+20.5% per year) and Russia (-0.5% per year).

In value terms, Bulgaria ($X) constituted the largest supplier of maize to Greece, comprising 39% of total imports. The second position in the ranking was held by Ukraine ($X), with a 19% share of total imports. It was followed by Russia, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Bulgaria amounted to +19.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+22.9% per year) and Russia (-0.1% per year).

Import Prices by Country

The average maize import price stood at $X per ton in 2022, picking up by 14% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 40% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Bulgaria ($X per ton) and Serbia ($X per ton), while the price for Moldova ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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