Lithuania: Maize Market 2024

Maize Market Size in Lithuania

The Lithuanian maize market surged to $X in 2022, growing by 60% against the previous year. Over the period under review, consumption showed prominent growth. Maize consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Maize Production in Lithuania

In value terms, maize production expanded significantly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 88%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

In 2022, the average maize yield in Lithuania rose significantly to X tons per ha, picking up by 10% on the year before. In general, the yield showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the yield increased by 44% against the previous year. The maize yield peaked at X tons per ha in 2019; however, from 2020 to 2022, the yield remained at a 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, approx. X ha of maize were harvested in Lithuania; with an increase of 6.5% compared with 2021. In general, the total harvested area indicated moderate growth from 2012 to 2022: its figure increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize harvested area decreased by -5.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the harvested area increased by 58%. As a result, the harvested area reached the peak level of X ha. From 2021 to 2022, the growth of the maize harvested area remained at a lower figure.

Maize Exports

Exports from Lithuania

In 2022, shipments abroad of maize was finally on the rise to reach X tons after two years of decline. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 230% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, maize exports soared to $X in 2022. Over the period under review, exports enjoyed a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 231%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Spain (X tons), Denmark (X tons) and Latvia (X tons) were the main destinations of maize exports from Lithuania, together comprising 80% of total exports. Germany, Estonia, Ireland and the Netherlands lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +207.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Denmark ($X) and Latvia ($X) appeared to be the largest markets for maize exported from Lithuania worldwide, with a combined 76% share of total exports. Germany, Estonia, Ireland and the Netherlands lagged somewhat behind, together accounting for a further 21%.

Ireland, with a CAGR of +200.6%, recorded the highest rates of growth with regard to 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

In 2022, the average maize export price amounted to $X per ton, picking up by 34% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to the Netherlands ($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 the Netherlands (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Imports

Imports into Lithuania

In 2022, purchases abroad of maize increased by 97% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports recorded a resilient expansion. The pace of growth was the most pronounced in 2018 with an increase of 105%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, maize imports soared to $X in 2022. Overall, imports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of 116%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

Poland (X tons), Ukraine (X tons) and Russia (X tons) were the main suppliers of maize imports to Lithuania, with a combined 97% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +37.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest maize suppliers to Lithuania were Poland ($X), Ukraine ($X) and Russia ($X), with a combined 89% share of total imports.

In terms of the main suppliers, Russia, with a CAGR of +37.5%, recorded 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

The average maize import price stood at $X per ton in 2022, growing by 5.3% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize import price increased by +71.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 56%. The import price peaked in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+14.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform