Romania: Maize Market 2024

Maize Market Size in Romania

The Romanian maize market fell to $X in 2022, waning by -11.5% against the previous year. Overall, consumption, however, recorded mild growth. Maize consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Maize Production in Romania

In value terms, maize production contracted to $X in 2022 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +15.8% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 69%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

The average yield of maize in Romania declined significantly to X tons per ha in 2022, which is down by -15.7% on 2021 figures. In general, the yield, however, recorded prominent growth. The most prominent rate of growth was recorded in 2013 when the yield increased by 105%. Over the period under review, the average maize yield reached the maximum level at X tons per ha in 2018; however, from 2019 to 2022, the yield failed to regain momentum. 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 Romania; leveling off at the previous year. Overall, the harvested area recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 9.7%. Over the period under review, the harvested area dedicated to maize production attained the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Maize Exports

Exports from Romania

In 2022, approx. X tons of maize were exported from Romania; waning by -19.2% compared with 2021 figures. Overall, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 48%. The exports peaked at X tons in 2021, and then declined rapidly in the following year.

In value terms, maize exports rose modestly to $X in 2022. In general, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 57% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Spain (X tons), Italy (X tons) and the Netherlands (X tons) were the main destinations of maize exports from Romania, together comprising 39% of total exports. South Korea, Egypt, Iran, Portugal, Turkey, Morocco, Hungary, the UK, Israel and Lebanon lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +23.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for maize exported from Romania were Spain ($X), Italy ($X) and the Netherlands ($X), with a combined 36% share of total exports. South Korea, Egypt, Iran, Portugal, Hungary, Turkey, Morocco, the UK, Lebanon and Israel lagged somewhat behind, together accounting for a further 42%.

Portugal, with a CAGR of +25.2%, recorded the highest growth rate of the value of exports, among 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

The average maize export price stood at $X per ton in 2022, rising by 28% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 29%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Iran ($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 Hungary (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Imports

Imports into Romania

In 2022, purchases abroad of maize decreased by -24.9% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 239% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, maize imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed prominent growth. The pace of growth appeared the most rapid in 2015 when imports increased by 101% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

Bulgaria (X tons), Moldova (X tons) and Hungary (X tons) were the main suppliers of maize imports to Romania, with a combined 82% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Moldova (with a CAGR of +80.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X) constituted the largest supplier of maize to Romania, comprising 39% of total imports. The second position in the ranking was held by Bulgaria ($X), with a 16% share of total imports. It was followed by France, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ukraine totaled +74.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+8.1% per year) and France (+8.9% per year).

Import Prices by Country

The average maize import price stood at $X per ton in 2022, increasing by 90% against the previous year. Over the period under review, the import price showed buoyant growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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