Maize flour and cereals market in Barbados

Earlier Report Observations

The market volume for maize flour and cereals in Barbados experienced significant fluctuations between 2018 and 2023. After a sharp increase in 2019, reaching 4 263 t, the market contracted in 2020 and remained at a lower level through 2022, before recovering to 4 005 t in 2023.

In value terms, the market followed a similar pattern, peaking at 4 112 thousand US dollars in 2019. A notable decline to 3 102 thousand US dollars occurred in 2020, but consistent growth in the following years led to a new high of 4 250 thousand US dollars by 2023.

Production maize flour and cereals in Barbados

In kind, 2017-2020, t

Top producers of maize flour and cereals, 2017-2020

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

Barbados's production of maize flour and cereals declined after two years of growth. In 2019, output reached its peak at 4,408 tonnes, but then fell by 34.2% to 2,900 tonnes in 2020. Over the period from 2017 to 2020, production decreased by 20.8%, which translates to an average annual decline of 7.5%. The most significant increase occurred in 2019, with a rise of 13.5%.

Annual dynamics of production in Barbados in kind, 2017-2020, t

In value, 2017-2020, K $ US

Barbados's production value of maize flour and cereals dropped after two years of increases. In 2019, it peaked at 4,382 thousand US dollars, but then saw a sharp decline of 31.5% to 3,000 thousand US dollars in 2020. From 2017 to 2020, the production value fell by 16.9%, with a compound annual growth rate of -6.0%. The largest increase was recorded in 2019, at 16.0%.

Annual dynamics of production in Barbados in value, 2017-2020, K $ US

Exports maize flour and cereals from Barbados

Exports in kind, t

Barbados's exports of maize flour and cereals grew for the second year in a row. In 2018, exports hit their lowest point at 842 tonnes, with a decline of 3.4% that year. However, by 2020, they had risen to 1,010 tonnes, marking a 14.4% increase from the previous year. Over the 2017-2020 period, exports increased by 15.9%, averaging an annual growth rate of 5.0%.

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

From 2017 to 2020, Jamaica and Guyana were the primary destinations for Barbados's maize flour and cereals exports in volume terms, together accounting for 96.5% of total exports. Other partners played a much smaller role individually.

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

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

Exports in value, K $ US

Barbados's export value of maize flour and cereals continued to rise for the second consecutive year. In 2018, it reached its minimum at 819 thousand US dollars, declining by 4.7% that year. By 2020, exports had climbed to 1,045 thousand US dollars, up 19.0% from the previous year. Over the 2017-2020 span, export value grew by 21.6%, with a compound annual growth rate of 6.7%.

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

During 2017-2020, Jamaica and Guyana were the dominant markets for Barbados's maize flour and cereals exports in value terms, jointly making up 96.3% of total flows. The remaining share was distributed among other destinations.

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

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

Imports maize flour and cereals to Barbados

Imports in kind, t

Barbados's imports of maize flour and cereals increased for the third straight year. In 2020, imports amounted to 1,654 tonnes, which is a 124.2% jump from the previous year. From 2017 to 2020, imports surged by 667.8%, with a compound annual growth rate of 97.3%.

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

Between 2017 and 2020, Brazil and the United States were the clear leaders in Barbados's imports of maize flour and cereals by volume, while other countries collectively accounted for the remainder.

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

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

Imports in value, K $ US

The import market for maize flour and cereals in Barbados showed volatility during the observed period. In 2018, imports hit their lowest point at 293 thousand US dollars, with a decline of 2.3% that year. In 2019, they saw the largest increase, rising by 107.6%. By 2020, imports had reached 1,147 thousand US dollars, an 88.7% increase from the previous year. Overall, import levels fluctuated significantly, with a 3.9-fold difference between the high in 2020 and the low in 2018.

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

From 2017 to 2020, the United States and Brazil were the main sources for Barbados's imports of maize flour and cereals in value terms, together representing 93.8% of total imports. The rest was divided among other markets.

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

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