Maize flour and cereals market in Asia

Earlier Report Observations

Starting in 2017, the Food Safety and Standards Authority of India (FSSAI) amended regulations for degermed maize flour and maize grit, setting product standards and labeling requirements. This regulatory framework was followed in 2018 by government initiatives to boost maize production through mechanization and scaled-up output, helping maintain market volume at 40.5 million tons. In 2019, the market size held steady at 40.4 million tons. However, 2020 saw a sharp contraction to 32.8 million tons.

From 2021 onward, the market began to recover. Growing urbanization increased demand for processed maize foods like corn flakes and bakery products, contributing to a slight rise in market volume to 33.2 million tons. In 2022, demand from the poultry sector and the organized dairy industry, along with the expansion of maize flour processing into new product categories, helped stabilize the market near 33.4 million tons. By 2023, a significant increase in the Minimum Support Price (MSP) for maize—which had the highest growth rate among cereals—provided strong production incentives, leading to an 8% jump in market volume to 36.0 million tons.

Production maize flour and cereals in Asia

In kind, 2017-2020, K t

Top producers of maize flour and cereals, 2017-2020

World map of production of maize flour and cereals, 2017-2020

Asia's production of maize flour and cereals declined for the second year in a row. In 2020, the region produced 32 499 thousand tonnes, which represents an 18.8% decrease compared to 2019. Looking at the period from 2017 to 2020, production fell by 15%, translating to an average annual decline of 5.3%. The highest production level was recorded in 2018 at 40 363 thousand tonnes, which also saw the largest year-on-year increase of 5.6%.

Annual dynamics of production in Asia in kind, 2017-2020, K t

Exports maize flour and cereals from Asia

Exports in kind, K t

Asia exported 348.7 thousand tonnes of maize flour and cereals in 2020, marking a 24.7% increase from the previous year. Over the 2017-2020 period, exports grew by 32.1%, with an average annual growth rate of 9.7%. The peak export volume occurred in 2018 at 396.2 thousand tonnes, which also experienced the largest annual increase of 50.1%. In contrast, 2019 saw the most significant decline, with exports dropping by 29.4%.

Annual dynamics of product's exports from Asia in kind, 2017-2020, K t

From 2017 to 2020, Asia's maize flour and cereals exports were distributed across a diverse range of partner countries. The top three destinations—the United States (3.1% of exports), Egypt (2.5%), and Angola (1.6%)—collectively accounted for just 7.2% of total export volumes.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Asia in kind, 2017-2020

Exports in value, M $ US

In 2020, Asia's maize flour and cereals exports reached 272.7 million US dollars, showing a 9.1% increase compared to 2019. Over the 2017-2020 period, export value rose by 10.4%, with a compound annual growth rate of 3.4%. The most notable decline occurred in 2019, when exports fell by 7.0%.

Annual dynamics of product's exports from Asia in value, 2017-2020, M $ US

Between 2017 and 2020, Asia's maize flour and cereals exports in value terms were not highly concentrated. The leading markets—the United States (5.5% of export value), Australia (2.2%), and Egypt (1.3%)—together represented only 9.1% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Asia in value, 2017-2020

Imports maize flour and cereals to Asia

Imports in kind, K t

Asia's imports of maize flour and cereals increased for the second consecutive year. In 2020, imports totaled 645.5 thousand tonnes, up 4.3% from 2019. Over the 2017-2020 period, imports grew by 7.8%, with an average annual growth rate of 2.5%. The lowest import volume was recorded in 2018 at 546.3 thousand tonnes, which also saw the largest decline of 8.8%. The most significant increase occurred in 2019, with imports rising by 13.3%.

Annual dynamics of product's imports to Asia in kind, 2017-2020, K t

During 2017-2020, maize flour and cereals imports to Asia came from numerous markets. Even the largest suppliers—Australia, Argentina, and Brazil—combined to account for only 36.2% of total import volumes.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Asia in kind, 2017-2020

Imports in value, M $ US

Asia imported 342.9 million US dollars worth of maize flour and cereals in 2020, a 2.8% increase from 2019. Between 2017 and 2020, import value grew by 7.4%, with an average annual growth rate of 2.4%. The largest decline was recorded in 2019 at 2.3%, while the most significant increase occurred in 2018 with a 6.8% rise.

Annual dynamics of product's imports to Asia in value, 2017-2020, M $ US

From 2017 to 2020, Asia's maize flour and cereals imports in value terms were not concentrated among a few key markets. The top three sources—Australia (8.1% of import value), Argentina (7.9%), and the United States (3.0%)—jointly made up just 19.0% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Asia in value, 2017-2020