Slovakia: Maize Market 2024

Maize Market Size in Slovakia

In 2022, the Slovak maize market increased by 8.1% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Maize Production in Slovakia

In value terms, maize production stood at $X in 2022 estimated in export price. In general, production, however, saw a pronounced descent. The pace of growth appeared the most rapid in 2016 when the production volume increased by 129% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The average yield of maize in Slovakia reached X tons per ha in 2022, increasing by 5% compared with 2021. Over the period under review, the yield indicated moderate growth from 2012 to 2022: its figure increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize yield decreased by -4.8% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of 91%. As a result, the yield attained the peak level of X tons per ha. From 2017 to 2022, the growth of the average maize yield remained 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, approx. X ha of maize were harvested in Slovakia; reducing by -2.9% on the previous year. Overall, the harvested area showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the harvested area increased by 10%. 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 from Slovakia

In 2022, the amount of maize exported from Slovakia surged to X tons, with an increase of 60% against the previous year. Over the period under review, exports saw a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 77%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, maize exports skyrocketed to $X in 2022. In general, exports enjoyed a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons), Austria (X tons) and Hungary (X tons) were the main destinations of maize exports from Slovakia, with a combined 68% 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 Italy (with a CAGR of +30.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for maize exported from Slovakia were Italy ($X), Austria ($X) and Hungary ($X), with a combined 63% share of total exports.

Italy, with a CAGR of +25.7%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the average maize export price amounted to $X per ton, surging by 22% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 35% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to the Netherlands ($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 Romania (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Imports

Imports into Slovakia

For the third consecutive year, Slovakia recorded growth in purchases abroad of maize, which increased by 277% to X tons in 2022. Over the period under review, imports saw a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, maize imports soared to $X in 2022. In general, imports continue to indicate a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest maize supplier to Slovakia, accounting for a 53% share of total imports. Moreover, maize imports from Ukraine exceeded the figures recorded by the second-largest supplier, Poland (X tons), fourfold. The third position in this ranking was held by the Czech Republic (X tons), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Ukraine stood at +116.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+27.8% per year) and the Czech Republic (+2.8% per year).

In value terms, Ukraine ($X) constituted the largest supplier of maize to Slovakia, comprising 42% of total imports. The second position in the ranking was held by Poland ($X), with a 10% share of total imports. It was followed by Hungary, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ukraine totaled +122.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+28.0% per year) and Hungary (-5.7% per year).

Import Prices by Country

In 2022, the average maize import price amounted to $X per ton, which is down by -24.4% against the previous year. Overall, the import price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2019 when the average import price increased by 63%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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