Middle East: Maize Market 2024

Maize Market Size in the Middle East

The Middle Eastern maize market reduced sharply to $X in 2022, with a decrease of -15.8% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Maize Production in the Middle East

In value terms, maize production reduced to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt contraction. The pace of growth appeared the most rapid in 2019 when the production volume increased by 13% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Turkey (X tons) remains the largest maize producing country in the Middle East, comprising approx. 84% of total volume. Moreover, maize production in Turkey exceeded the figures recorded by the second-largest producer, Iraq (X tons), more than tenfold. The third position in this ranking was taken by Iran (X tons), with a 4.8% share.

In Turkey, maize production increased at an average annual rate of +3.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Iraq (-2.3% per year) and Iran (-14.4% per year).

In 2022, the average maize yield in the Middle East dropped to X tons per ha, declining by -5.7% against 2021. The yield figure increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 13% against the previous year. Over the period under review, the maize yield reached the maximum level at X tons per ha in 2018; however, from 2019 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 the Middle East expanded slightly to X ha, growing by 5% compared with the year before. Over the period under review, the harvested area, however, continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2019 with an increase of 29% against the previous year. Over the period under review, the harvested area dedicated to maize production reached the peak figure at X ha in 2013; however, from 2014 to 2022, the harvested area stood at a somewhat lower figure.

Maize Exports

Exports in the Middle East

After four years of decline, shipments abroad of maize increased by 34% to X tons in 2022. Overall, exports posted a prominent expansion. The pace of growth was the most pronounced in 2015 when exports increased by 281% 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 surged to $X in 2022. In general, exports recorded a remarkable increase. The pace of growth was the most pronounced in 2015 with an increase of 138% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Turkey dominates exports structure, resulting at X tons, which was approx. 79% of total exports in 2022. Jordan (X tons) ranks second in terms of the total exports with a 7.5% share, followed by the United Arab Emirates (6.8%). Iran (X tons) and Yemen (X tons) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of +36.8% from 2012 to 2022. 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 the Middle East, with a CAGR of +55.9% from 2012-2022. Yemen experienced a relatively flat trend pattern. From 2012 to 2022, the share of Turkey and Iran increased by +65 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in Turkey totaled +22.5%. 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 the Middle East amounted to $X per ton, increasing by 17% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 47% 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 remained at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 the Middle East

In 2022, overseas purchases of maize decreased by -11.7% to X tons, falling for the third consecutive year after four years of growth. Total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -28.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 24% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, maize imports shrank rapidly to $X in 2022. Total imports indicated a perceptible increase 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, imports increased by +12.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 33%. As a result, imports reached the peak of $X, and then declined remarkably in the following year.

Imports by Country

Iran represented the largest importing country with an import of around X tons, which resulted at 43% of total imports. It was distantly followed by Turkey (X tons), Israel (X tons), Iraq (X tons) and Lebanon (X tons), together generating a 41% share of total imports. The following importers - Yemen (X tons) and Jordan (X tons) - each amounted to a 7.8% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to maize imports into Iran stood at +4.3%. At the same time, Iraq (+65.2%), Turkey (+15.5%), Lebanon (+9.8%), Yemen (+2.1%) and Israel (+1.2%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +65.2% from 2012-2022. Jordan experienced a relatively flat trend pattern. While the share of Turkey (+13 p.p.), Iraq (+6.5 p.p.), Lebanon (+2.5 p.p.) and Iran (+2.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Israel (-2.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest maize importing markets in the Middle East were Iran ($X), Turkey ($X) and Israel ($X), together comprising 73% of total imports. Iraq, Jordan, Lebanon and Yemen lagged somewhat behind, together comprising a further 19%.

Iraq, with a CAGR of +53.2%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 the Middle East stood at $X per ton in 2022, shrinking by -4.1% against the previous year. Over the period under review, the import price saw a mild slump. The most prominent rate of growth was recorded in 2021 an increase of 36%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+1.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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