Luxembourg: Maize Market 2024

Maize Market Size in Luxembourg

The Luxembourg maize market dropped to $X in 2022, waning by -12% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Maize Exports

Exports from Luxembourg

In 2022, the amount of maize (green) exported from Luxembourg soared to X tons, jumping by 31% on 2021. The total export volume increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when exports increased by 38%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, maize exports surged to $X in 2022. Over the period under review, exports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of 56% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

France (X tons), Belgium (X tons) and Germany (X tons) were the main destinations of maize exports from Luxembourg, with a combined 97% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +10.1%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Belgium ($X) and Germany ($X) appeared to be the largest markets for maize exported from Luxembourg worldwide, together accounting for 96% of total exports.

In terms of the main countries of destination, Belgium, with a CAGR of +13.2%, saw the highest rates of growth with regard to 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

The average maize export price stood at $X per ton in 2022, which is down by -6.5% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.8% 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 +6.6% against 2020 indices. The growth pace was the most rapid in 2017 when the average export price increased by 40%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 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 Azerbaijan ($X per ton), while the average price for exports to France ($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 France (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Imports

Imports into Luxembourg

In 2022, the amount of maize (green) imported into Luxembourg declined to X tons, dropping by -11.6% compared with 2021 figures. The total import volume increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 23% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, maize imports fell to $X in 2022. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

Belgium (X tons), France (X tons) and Italy (X tons) were the main suppliers of maize imports to Luxembourg, with a combined 76% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +8.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Belgium ($X) and Italy ($X) were the largest maize suppliers to Luxembourg, with a combined 77% share of total imports.

Among the main suppliers, Italy, with a CAGR of +15.4%, saw the highest rates of growth with regard to 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 average maize import price amounted to $X per ton, rising by 6.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2018 when the average import price increased by 15% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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