MENA: Maize Market 2024

Maize Market Size in MENA

The MENA's maize market contracted to $X in 2022, with a decrease of -5.9% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Maize Production in MENA

In value terms, maize production contracted to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2015 when the production volume increased by 38% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Egypt (X tons), Turkey (X tons) and Iraq (X tons), together comprising 94% of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Turkey (with a CAGR of +3.7%), while production for the other leaders experienced mixed trends in the production figures.

In 2022, the average maize yield in MENA dropped to X tons per ha, therefore, remained relatively stable against the previous year. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the yield increased by 7.9%. Over the period under review, the maize yield reached the maximum level at X tons per ha in 2019; however, from 2020 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 maize harvested area in MENA totaled X ha, approximately equating the previous year's figure. Over the period under review, the harvested area, however, showed a mild setback. The most prominent rate of growth was recorded in 2020 with an increase of 9.8%. Over the period under review, the harvested area dedicated to maize production attained the peak figure at X ha in 2013; however, from 2014 to 2022, the harvested area failed to regain momentum.

Maize Exports

Exports in MENA

After four years of decline, shipments abroad of maize increased by 32% to X tons in 2022. Overall, exports posted strong growth. The most prominent rate of growth was recorded in 2015 with an increase of 255% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, maize exports soared to $X in 2022. In general, exports showed buoyant growth. The pace of growth was the most pronounced in 2015 when exports increased by 130% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

Turkey dominates exports structure, accounting for X tons, which was approx. 79% of total exports in 2022. It was distantly followed by Jordan (X tons) and the United Arab Emirates (X tons), together achieving a 14% share of total exports. Iran (X tons) and Yemen (X tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to maize exports from Turkey stood at +36.8%. At the same time, Iran (+55.9%), the United Arab Emirates (+16.1%) and Jordan (+7.6%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in MENA, with a CAGR of +55.9% from 2012-2022. Yemen experienced a relatively flat trend pattern. Turkey (+66 p.p.) and Iran (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while Yemen and Jordan saw its share reduced by -4.4% and -6.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest maize supplier in MENA, comprising 85% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 5.9% share of total exports. It was followed by Jordan, with a 4.8% share.

In Turkey, maize exports increased at an average annual rate of +22.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+23.8% per year) and Jordan (+5.3% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, rising by 17% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 44% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Yemen ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Yemen (+7.6%), while the other leaders experienced mixed trends in the export price figures.

Maize Imports

Imports in MENA

In 2022, overseas purchases of maize decreased by -7.5% to X tons, falling for the third consecutive year after four years of growth. The total import volume increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 27% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, maize imports contracted to $X in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 25% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

In 2022, Egypt (X tons) and Iran (X tons) were the key importers of maize in MENA, together recording approx. 45% of total imports. It was distantly followed by Algeria (X tons), Turkey (X tons) and Morocco (X tons), together creating a 30% share of total imports. Israel (X tons), Iraq (X tons), Lebanon (X tons), Tunisia (X tons), Libya (X tons), Yemen (X tons), Jordan (X tons) and the United Arab Emirates (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Iraq (with a CAGR of +65.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), Iran ($X) and Turkey ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 59% of total imports. Algeria, Morocco, Israel, Iraq, Jordan, Lebanon, Tunisia, Libya, Yemen and the United Arab Emirates lagged somewhat behind, together accounting for a further 38%.

In terms of the main importing countries, Iraq, with a CAGR of +53.2%, 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 import price in MENA stood at $X per ton in 2022, standing approx. at the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 34% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+2.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform