Maize flour and cereals market in Greece

Earlier Report Observations

The maize flour and cereals market in Greece began the period at 131.9 thousand tons in 2018. During this year, Mills of Loulis, a key industry participant, pursued the recovery of its market share in industrial flour, including maize flour, utilizing two production plants with dedicated milling, grain storage, and port logistics. This activity helped maintain production levels in the sector.

Market volume then contracted over the following two years, declining to 122.2 thousand tons in 2019 and 113.7 thousand tons in 2020. A strong rebound followed in 2021, when volume jumped to 149.1 thousand tons, representing a rise of more than 30% from the previous year. However, the expansion proved temporary, as the market fell again to 133.5 thousand tons in 2022 and further to 120.3 thousand tons in 2023.

Production maize flour and cereals in Greece

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

Greece's production of maize flour and cereals has declined for the third year in a row. In 2020, the country produced 99.6 K t, which represents a 9.6% decrease compared to the previous year. Looking at the period from 2017 to 2020, production fell by 14.5%, translating to an average annual decline of 5.1%.

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

In value, 2017-2020, K $ US

Following two years of growth, Greece's production of maize flour and cereals saw a decline in value. In 2020, the output was valued at 39 183 K $ US, marking a sharp drop of 26.3% year-over-year. Over the 2017-2020 period, production value decreased by 10.2%, with a compound annual growth rate of -3.5%. The highest value was recorded in 2019 at 53 148 K $ US, which also saw the largest increase of 20.1%.

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

Exports maize flour and cereals from Greece

Exports in kind, t

After two years of growth, Greece's exports of maize flour and cereals in volume terms declined. In 2020, exports reached 4 991 t, showing a significant drop of 17.9% from 2019. From 2017 to 2020, exports decreased by 13%, with a compound annual growth rate of -4.5%. The peak volume was in 2019 at 6 082 t, which also experienced the largest increase of 5.5%.

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

From 2017 to 2020, Romania, Bulgaria, and North Macedonia were the primary destinations for Greece's maize flour and cereals exports in volume terms. Romania accounted for 34.9% of exports, Bulgaria for 19.6%, and North Macedonia for 18.7%, collectively making up 73.2% of total export flows.

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

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

Exports in value, K $ US

Following a two-year rise, Greece's exports of maize flour and cereals in value terms declined. In 2020, exports amounted to 1 962 K $ US, reflecting a 33.1% decrease compared to the previous year. Over the 2017-2020 period, export value fell by 8.6%, with a compound annual growth rate of -2.9%. The highest value was recorded in 2019 at 2 933 K $ US, which also saw the largest increase of 27.2%.

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

Between 2017 and 2020, Romania, North Macedonia, and Albania were the top contributors to Greece's maize flour and cereals exports in value terms. Romania represented 32.7% of exports, North Macedonia 18.1%, and Albania 16.4%, together accounting for 67.2% of total export flows.

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

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

Imports maize flour and cereals to Greece

Imports in kind, t

After two years of decline, Greece's imports of maize flour and cereals in volume terms increased. In 2020, imports amounted to 19 067 t, reflecting a 5.2% rise year-over-year. However, from 2017 to 2020, imports overall decreased by 29.9%, equating to an average annual decline of 11.2%. The lowest volume was recorded in 2019 at 18 119 t, which also saw the largest decline of 32.8%.

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

During 2017-2020, Bulgaria, the Netherlands, and Italy formed the main cluster of markets for Greece's maize flour and cereals imports in volume terms. Bulgaria accounted for 63.0% of imports, the Netherlands for 12.3%, and Italy for 8.1%, with a combined share of 83.4% of total import flows.

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

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

Imports in value, K $ US

In 2020, Greece's imports of maize flour and cereals in value terms were recorded at 9 549 K $ US, showing a robust gain of 13.3% compared to the previous year. Over the 2017-2020 period, import value increased by 4%, with a compound annual growth rate of 1.3%. The lowest value was in 2019 at 8 425 K $ US, while the highest was in 2018 at 10 100 K $ US. The largest decline occurred in 2019, with a drop of 16.6%.

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

Throughout 2017-2020, Bulgaria, the Netherlands, and France remained the central markets for Greece's maize flour and cereals imports in value terms, collectively accounting for 69.4% of total import flows.

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

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