Maize market in ASEAN

Earlier Report Observations

The volume of the maize market in ASEAN experienced significant shifts between 2018 and 2023. Starting from a high of 74.6 million metric tons in 2018, market volume contracted sharply to 48.0 million metric tons by 2021, a cumulative decline of over one-third. This downward trend was interrupted in 2022 when the market expanded by 6.7% to reach 51.2 million metric tons, before edging down slightly to 49.8 million metric tons in 2023.

The recovery in 2022 was primarily supported by increased domestic production, which rose by 9.7% to 37.8 million metric tons. This growth was driven by agricultural policy measures and government support schemes across the region aimed at boosting maize output, alongside rising demand for corn-based biofuels. In 2023, however, market volume dipped by 2.8% as persistent logistical and distribution challenges—linked to the bulky and perishable nature of the commodity—constrained market efficiency despite ongoing demand from the animal feed sector.

Production maize in ASEAN

In kind, 2017-2020, K t

Top producers of maize, 2017-2020

World map of production of maize, 2017-2020

Maize production in ASEAN has declined for the third year in a row. In 2020, ASEAN produced 34 252 thousand tons of maize, which represents a significant 15.6% drop from the previous year. Looking at the period from 2017 to 2020, production fell by 27.7%, with an average annual decline of 10.2%.

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

Exports maize from ASEAN

Exports in kind, K t

In 2020, ASEAN exported 589 thousand tons of maize, which is 29.1% lower than in 2019. Over the 2017-2020 period, exports decreased by 52.2%, with an average annual decline of 21.8%. The largest drop occurred in 2018, at 41.5%, while the biggest increase was in 2019, at 15.4%.

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

From 2017 to 2020, China, India, and Asia, not elsewhere specified, were the top destinations for ASEAN's maize exports by volume. China accounted for 21.5% of exports, India for 4.4%, and Asia, not elsewhere specified, for 0.8%. Together, these three made up 26.8% of total export flows.

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

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

Exports in value, M $ US

After two years of decline, ASEAN's maize exports in value terms have rebounded. In 2020, exports reached 642 million US dollars, marking a 64.4% increase from the previous year. Over the 2017-2020 period, exports grew by 12.9%, with an average annual growth rate of 4.1%. The lowest value was recorded in 2019 at 390 million US dollars, which also saw the largest decline of 21.6%.

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

The market for ASEAN's maize exports in value terms was quite diverse from 2017 to 2020. China, India, and Pakistan were the leading destinations, with China accounting for 32.9% of exports, India for 2.9%, and Pakistan for 1.9%. Combined, these three countries represented 37.7% of total flows, while the remaining 62.3% was distributed among numerous other countries.

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

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

Imports maize to ASEAN

Imports in kind, K t

Maize imports into ASEAN showed significant volatility during these years. Import levels varied widely, with a 2.7-fold difference between the peak in 2018 and the low in 2017. In 2020, imports amounted to 18 542 thousand tons, up 12.2% from 2019. The highest volume was recorded in 2018 at 34 564 thousand tons, which also saw the largest increase of 174.2%. The largest decline occurred in 2019, at 52.2%.

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

From 2017 to 2020, ASEAN's maize imports by volume were heavily concentrated on Argentina and Brazil. Together, these two countries accounted for 85.6% of total import flows, with other partners making up the remainder.

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

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

Imports in value, M $ US

Maize imports into ASEAN have increased for the third consecutive year. In 2020, imports totaled 3 969 million US dollars, representing an 11.6% rise from 2019. Between 2017 and 2020, imports grew by 55.7%, which translates to an average annual growth rate of 15.9%.

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

In the 2017-2020 period, Argentina and Brazil dominated ASEAN's maize imports in value terms, together holding an 80.8% share of total flows. The rest was spread across other countries.

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

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