Maize flour and cereals market in Caribbean

Earlier Report Observations

The maize flour and cereals market in the Caribbean began the period at a volume of 334 thousand tonnes in 2018. Local industry structure played a role, with producers like NFM and Nutrimix in Trinidad and Tobago collaborating to maintain supply chain continuity and food security, while maize flour remained a dietary staple in the region. Market volume then contracted significantly, falling to 221 thousand tonnes by 2020.

A partial recovery occurred in the following years, with volume reaching 272 thousand tonnes in 2022 before moderating to 257 thousand tonnes in 2023. In the later part of the period, the market was affected by rising global wheat prices and increased shipping costs, prompting price adjustments from major millers. Concurrently, worldwide health and wellness trends began promoting demand for enriched and functional flour varieties, influencing the broader market environment.

Production maize flour and cereals in Caribbean

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

Maize flour and cereals production in the Caribbean declined for the third consecutive year. In 2020, 173.2 thousand tonnes were produced, representing a steep 34.0% year-over-year reduction. From 2017 to 2020, production decreased by 54.9%, with a compound annual growth rate of -23.3%.

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

In value, 2017-2020, M $ US

The value of maize flour and cereals production in the Caribbean also fell for the third straight year. In 2020, output was valued at 371 million US dollars, which is 50.5% lower than the previous year. Between 2017 and 2020, production value decreased by 68.3%, with a compound annual growth rate of -31.8%.

Annual dynamics of production in Caribbean in value, 2017-2020, M $ US

Exports maize flour and cereals from Caribbean

Exports in kind, t

Export volumes showed significant volatility during this period. The lowest volume was recorded in 2017, while the highest was in 2018, creating a 3.7-fold difference between these years. In 2020, maize flour and cereals exports from the Caribbean amounted to 26 548 tonnes, marking a slight decrease of 2.7% compared to 2019. The largest decline occurred in 2019 at 20.0%, while the most substantial increase was in 2018 at 267.9%.

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

From 2017 to 2020, Guatemala (8.6% of export volume), Honduras (7.7%), and El Salvador (0.6%) together accounted for 16.9% of total maize flour and cereals exports from the Caribbean, remaining the primary destinations.

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

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

Exports in value, K $ US

The value of maize flour and cereals exports from the Caribbean increased for the second consecutive year. In 2020, exports reached 21 782 thousand US dollars, showing a 3.9% uptick compared to the previous year. However, over the 2017-2020 period, export value decreased by 5%, with a compound annual growth rate of -1.7%. The lowest value was recorded in 2018 at 18 440 thousand US dollars, which also saw the largest decline of 19.6%. The most significant increase occurred in 2019 at 13.7%.

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

Throughout 2017-2020, Guatemala (7.4% of export value), Honduras (7.3%), and Guyana (1.4%) remained the main markets for maize flour and cereals exports from the Caribbean, jointly accounting for 16.1% of total export value.

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

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

Imports maize flour and cereals to Caribbean

Imports in kind, t

Imports of maize flour and cereals into the Caribbean increased for the second consecutive year. In 2020, imports totaled 74 487 tonnes, representing a significant 12.9% increase compared to 2019. Over the 2017-2020 period, import volume grew by 11.3%, with a compound annual growth rate of 3.6%. The lowest volume was recorded in 2018 at 48 117 tonnes, which also experienced the largest decline of 28.1%. The most substantial increase occurred in 2019 at 37.1%.

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

The import structure for maize flour and cereals in the Caribbean remained fragmented from 2017 to 2020. The United States (27.5% of import volume), Brazil (8.8%), and Turkey (6.2%) together accounted for only 42.5% of total imports, with no single country holding a dominant share.

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

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

Imports in value, K $ US

The value of maize flour and cereals imports into the Caribbean rose for the second consecutive year. In 2020, imports were valued at 45 669 thousand US dollars, indicating a significant 14.0% year-over-year increase. Between 2017 and 2020, import value grew by 14.3%, with a compound annual growth rate of 4.6%. The lowest value was recorded in 2018 at 35 057 thousand US dollars, which saw a decline of 12.3%. The largest increase occurred in 2019 at 14.3%.

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

From 2017 to 2020, no single country dominated maize flour and cereals imports into the Caribbean. The United States (36.6% of import value), Brazil (7.5%), and Turkey (3.4%) together accounted for only 47.5% of total import value, while numerous smaller partners each held modest individual shares.

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

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