Maize market in Argentina

Earlier Report Observations

From 2018 to 2021, the maize market in Argentina expanded steadily, with volume rising from 20.3 million tons to 23.6 million tons. This growth was primarily driven by an increase in planted area, which boosted domestic production. The market initially faced drought conditions in 2018 that constrained yields, but recovery in subsequent years allowed output to climb.

During 2022, market volume stabilized near its peak, supported by growing domestic demand for maize-based bioethanol, which saw a 32% annual increase in production. Geopolitical factors and delayed sales by producers created supply constraints but did not prevent the market from maintaining its size.

In 2023, the market volume dropped sharply to 17.8 million tons as the 'Chicharrita' pest infestation caused substantial crop losses, reducing production by nearly 10 million potential tons. This outbreak reversed the previous growth trend and highlighted the vulnerability of maize supply to agricultural threats.

Production maize in Argentina

In kind, 2017-2020, K t

Argentina ranked 4th globally in maize production from 2017 to 2020.

Top producers of maize, 2017-2020

World map of production of maize, 2017-2020

Argentina's maize production grew for the second consecutive year. In 2020, the country produced 58 396 K t of maize, a 2.7% increase from the previous year. Over the 2017-2020 period, production rose by 18%, with a compound annual growth rate of 5.7%. The lowest production level was in 2018 at 43 462 K t, which saw the largest decline of 12.2%. In contrast, 2019 recorded the largest increase of 30.8%.

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

In value, 2017-2020, M $ US

Maize production in Argentina increased for the second year in a row. In 2020, the output was valued at 9 574 M $ US, up 2.1% from the previous year. From 2017 to 2020, production grew by 18.1%, with a compound annual growth rate of 5.7%. The lowest value was in 2018 at 7 939 M $ US, which experienced the largest decline of 2.1%. The largest increase occurred in 2019, with an 18.1% rise.

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

Exports maize from Argentina

Exports in kind, K t

Maize exports from Argentina rose for the second consecutive year. In 2020, exports reached 36 882 K t, a modest 2.2% increase from the previous year. Over the 2017-2020 period, exports grew by 55.6%, with a compound annual growth rate of 15.9%. The lowest export volume was in 2018 at 23 179 K t, which saw the largest decline of 2.2%. The largest increase was in 2019, with a 55.6% jump.

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

From 2017 to 2020, Argentina's maize export partner portfolio was quite diverse. Vietnam accounted for 20.3% of exports in kind, Algeria for 11.4%, and Egypt for 10.2%. Together, these three countries represented only 41.9% of total export flows.

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

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

Exports in value, M $ US

Exported maize volumes from Argentina increased for the third consecutive year. In 2020, exports totaled 6 047 M $ US, showing a slight gain of 1.6% compared to 2019. Between 2017 and 2020, exports rose by 55.7%, equating to an annualized rate of 15.9%.

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

From 2017 to 2020, Vietnam, Algeria, and Egypt played notable but not dominant roles as buyers of Argentine maize in value terms. Vietnam accounted for 19.5% of exports, Algeria for 11.2%, and Egypt for 10.0%. Their combined share reached only 40.8% of total export value.

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

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

Imports maize to Argentina

Imports in kind, K t

Foreign maize supplies to Argentina declined for the third consecutive year. In 2020, imports stood at 4 K t, down 25.0% from the previous year. Between 2017 and 2020, imports decreased by 65.3%, equating to an annualized rate of 29.7%.

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

Over the 2017-2020 period, the United States, Brazil, and Chile were the main sources for Argentina's maize imports in kind. The United States accounted for 39.5% of imports, Brazil for 25.0%, and Chile for 8.2%. Together, they represented 72.8% of total import flows.

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

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

Imports in value, M $ US

Maize imports into Argentina declined for the second consecutive year. In 2020, imports stood at 16 M $ US, marking a sharp drop of 16.1% from a year earlier. Over the 2017-2020 period, imports decreased by 44.3%, with a compound annual growth rate of 17.7%. The highest import value was in 2018 at 30 M $ US, which saw the largest increase of 1.5%. The largest decline occurred in 2019, with a 34.6% decrease.

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

From 2017 to 2020, the United States and Brazil together captured 87.9% of Argentina's total maize imports in value terms, with the remaining flows thinly spread across other markets.

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

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