Indonesia: Preserved Sweet Corn Market 2024

Preserved Sweet Corn Market Size in Indonesia

In 2022, the Indonesian preserved sweet corn market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -12.0% against 2019 indices. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Preserved Sweet Corn Production in Indonesia

In value terms, preserved sweet corn production shrank modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.5% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of 37% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

The average yield of sweet corn prepared or preserved in Indonesia was estimated at less than X kg per ha in 2022, standing approx. at the previous year's figure. Overall, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the preserved sweet corn harvested area in Indonesia amounted to less than X ha, standing approx. at 2021. Over the period under review, the harvested area showed a relatively flat trend pattern.

Preserved Sweet Corn Exports

Exports from Indonesia

In 2022, overseas shipments of sweet corn prepared or preserved decreased by -5.8% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, enjoyed tangible growth. The pace of growth was the most pronounced in 2017 with an increase of 1,384%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, preserved sweet corn exports contracted markedly to $X in 2022. Over the period under review, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 770%. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell significantly in the following year.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for preserved sweet corn exports from Indonesia, accounting for a 49% share of total exports. Moreover, preserved sweet corn exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, South Korea (X tons), threefold. Malaysia (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Taiwan (Chinese) amounted to -2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+58.3% per year) and Malaysia (+53.4% per year).

In value terms, the largest markets for preserved sweet corn exported from Indonesia were Kuwait ($X), South Korea ($X) and Samoa ($X), with a combined 73% share of total exports.

South Korea, with a CAGR of +66.5%, saw the highest growth rate of 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 preserved sweet corn export price stood at $X per ton in 2022, shrinking by -9.9% against the previous year. Over the period under review, the export price, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 an increase of 123%. As a result, the export price reached the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Kuwait (+18.3%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sweet Corn Imports

Imports into Indonesia

In 2022, supplies from abroad of sweet corn prepared or preserved was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports showed mild growth. The pace of growth appeared the most rapid in 2016 with an increase of 143%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, preserved sweet corn imports fell to $X in 2022. Over the period under review, imports posted resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 235%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X tons) was the main preserved sweet corn supplier to Indonesia, with a 91% share of total imports. Moreover, preserved sweet corn imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. The third position in this ranking was taken by Singapore (X tons), with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand totaled +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+30.2% per year) and Singapore (-16.1% per year).

In value terms, Thailand ($X) constituted the largest supplier of sweet corn prepared or preserved to Indonesia, comprising 78% of total imports. The second position in the ranking was taken by China ($X), with a 17% share of total imports. It was followed by Singapore, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value from Thailand amounted to +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+42.9% per year) and Singapore (-9.4% per year).

Import Prices by Country

In 2022, the average preserved sweet corn import price amounted to $X per ton, waning by -19.6% against the previous year. Over the period under review, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.6% 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 2013 when the average import price increased by 41%. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then fell notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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