Malaysia: Maize Market 2025

Maize Market Size in Malaysia

In 2022, the Malaysian maize market decreased by -32% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, saw prominent growth. As a result, consumption reached the peak level of $X, and then dropped notably in the following year.

Maize Production in Malaysia

In value terms, maize production stood at $X in 2022 estimated in export price. Overall, production recorded a dramatic shrinkage. The growth pace was the most rapid in 2016 with an increase of 1,236,026,100% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

The average yield of maize (green) in Malaysia totaled less than X kg per ha in 2022, remaining constant against the previous year. Over the period under review, 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 total area harvested in terms of maize (green) production in Malaysia totaled less than X ha, flattening at 2021 figures. In general, the harvested area recorded a relatively flat trend pattern.

Maize Exports

Exports from Malaysia

In 2022, approx. X tons of maize (green) were exported from Malaysia; falling by -6.3% against 2021. Over the period under review, exports recorded a pronounced decline. The most prominent rate of growth was recorded in 2016 with an increase of 37% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, maize exports fell to $X in 2022. Overall, exports saw a noticeable contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 20%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons) was the main destination for maize exports from Malaysia, with a approx. 98% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore amounted to -4.4%.

In value terms, Singapore ($X) also remains the key foreign market for maize (green) exports from Malaysia.

From 2012 to 2022, the average annual growth rate of value to Singapore amounted to -2.8%.

Export Prices by Country

In 2022, the average maize export price amounted to $X per ton, almost unchanged from the previous year. Overall, export price indicated a mild increase 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 export price decreased by -6.4% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 35% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Singapore.

From 2012 to 2022, the rate of growth in terms of prices for Singapore amounted to +1.7% per year.

Maize Imports

Imports into Malaysia

In 2022, after five years of growth, there was significant decline in overseas purchases of maize (green), when their volume decreased by -19.8% to X tons. In general, imports, however, showed resilient growth. The growth pace was the most rapid in 2013 with an increase of 86% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then shrank markedly in the following year.

In value terms, maize imports declined dramatically to $X in 2022. Over the period under review, imports, however, posted strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 79% against the previous year. As a result, imports attained the peak of $X, and then declined sharply in the following year.

Imports by Country

In 2022, Thailand (X tons) constituted the largest maize supplier to Malaysia, with a 75% share of total imports. Moreover, maize imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X tons), sevenfold. Indonesia (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand stood at +30.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.1% per year) and Indonesia (+18.5% per year).

In value terms, Thailand ($X), China ($X) and Bangladesh ($X) appeared to be the largest maize suppliers to Malaysia, with a combined 76% share of total imports. India, Indonesia and Vietnam lagged somewhat behind, together comprising a further 7.4%.

Among the main suppliers, Vietnam, with a CAGR of +59.3%, 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, dropping by -2.8% against the previous year. Over the period under review, the import price continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2016 an increase of 36%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

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 Bangladesh ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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