Indonesia: Maize Market 2024

Maize Market Size in Indonesia

The Indonesian maize market shrank to $X in 2022, declining by -7.4% against the previous year. In general, consumption, however, showed strong growth. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Maize Production in Indonesia

In value terms, maize production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, posted buoyant growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 93% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

The average yield of maize (green) in Indonesia declined to X tons per ha in 2022, leveling off at the previous year. The yield figure increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the yield increased by 12% against the previous year. Over the period under review, the average maize yield attained the peak level at X tons per ha in 2018; however, from 2019 to 2022, the yield stood 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 harvested area of maize (green) in Indonesia dropped slightly to X ha, approximately mirroring 2021. The harvested area increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2016 when the harvested area increased by 17% against the previous year. The maize harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area stood at a somewhat lower figure.

Maize Exports

Exports from Indonesia

In 2022, approx. X tons of maize (green) were exported from Indonesia; surging by 8.9% against 2021 figures. Over the period under review, exports recorded a notable increase. The pace of growth appeared the most rapid in 2021 with an increase of 108%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, maize exports rose sharply to $X in 2022. In general, exports showed a strong increase. The pace of growth was the most pronounced in 2021 with an increase of 141% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Singapore (X tons) was the main destination for maize exports from Indonesia, with a 41% share of total exports. Moreover, maize exports to Singapore exceeded the volume sent to the second major destination, Malaysia (X tons), twofold. The third position in this ranking was taken by Hong Kong SAR (X tons), with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-2.4% per year) and Hong Kong SAR (+74.1% per year).

In value terms, Singapore ($X), Saudi Arabia ($X) and China ($X) constituted the largest markets for maize exported from Indonesia worldwide, together accounting for 69% of total exports.

In terms of the main countries of destination, China, with a CAGR of +122.5%, recorded the highest growth rate of the value of exports, 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, surging by 2.2% against the previous year. Over the period under review, the export price continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2018 when the average export price increased by 80%. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Malaysia ($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 Saudi Arabia (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Imports

Imports into Indonesia

In 2022, purchases abroad of maize (green) decreased by -26.5% to X tons, falling for the third year in a row after two years of growth. Overall, imports saw a deep slump. The pace of growth appeared the most rapid in 2016 when imports increased by 473% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, maize imports reduced notably to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 409%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X tons) and Australia (X tons) were the main suppliers of maize imports to Indonesia.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +115.4%).

In value terms, Australia ($X) and China ($X) appeared to be the largest maize suppliers to Indonesia.

Australia, with a CAGR of +109.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

The average maize import price stood at $X per ton in 2022, waning by -4.6% against the previous year. Overall, the import price, however, continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 an increase of 44% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+35.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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