Maize market in Asia

Earlier Report Observations

In 2018, the Asian maize market volume reached 483.3 million tonnes, supported by increased demand from feed makers and minimum support price policies in India, which encouraged domestic production. The market contracted to 430.1 million tonnes in 2019, coinciding with a sharp 49% rise in Indian maize export prices that likely made imports less attractive, reducing import volumes. A partial recovery followed in 2020, with the market growing to 438.0 million tonnes, aided by a significant increase in Indian maize imports sourced from Myanmar and Ukraine.

From 2021 to 2023, the market expanded steadily to 475.2 million tonnes. This growth was driven by strong export and domestic demand from India's feed and starch industries, which supported high maize prices and sustained production increases. Technological advancements in seed genetics and farming practices improved yields, while policy support in the Asia Pacific region promoted modern agricultural practices. Rising consumer preference for organic and health-oriented maize products also began shaping new market segments during this period.

Major global companies, including Louis Dreyfus Company, COFCO Group, Bunge Limited, and Archer Daniels Midland Company, played a significant role in market dynamics through their influence on trade and innovation. The market was also affected by broader factors such as geopolitical tensions and global supply constraints in 2021 and 2022, which contributed to price volatility and influenced trade flows.

Production maize in Asia

In kind, 2017-2020, M t

Top producers of maize, 2017-2020

World map of production of maize, 2017-2020

In 2020, Asia produced 355.5 million tonnes of maize, showing stable production compared to the previous year. The lowest production level was recorded in 2018 at 350.6 million tonnes. The largest decline occurred in 2018 with a 1.8% decrease, while the most significant increase was in 2019 with a 1.7% rise.

Annual dynamics of production in Asia in kind, 2017-2020, M t

Exports maize from Asia

Exports in kind, M t

In 2020, maize exports from Asia totaled 0.5 million tonnes, representing a substantial 54.8% decrease compared to 2019. Over the 2017-2020 period, exports declined by 69.2%, with a compound annual growth rate of -32.5%. The largest increase was recorded in 2019 at 13.1%.

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

From 2017 to 2020, the United States (3.4% of exports in kind), the Netherlands (1.1%), and Asia, not elsewhere specified (0.9%) were the key export partners, collectively accounting for 5.4% of total export flows.

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

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

Exports in value, M $ US

After two consecutive years of decline, maize exports from Asia rebounded in 2020, reaching 841 million US dollars. This marked a significant 27.1% increase compared to 2019. However, over the 2017-2020 period, exports decreased by 2.9%, with a compound annual growth rate of -1.0%. The lowest value was recorded in 2019 at 661 million US dollars, while the largest decline occurred in 2018 with a 19.2% drop.

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

Throughout 2017-2020, the United States (3.1% of exports in value terms), the Netherlands (0.9%), and Asia, not elsewhere specified (0.8%) remained the primary export partners, together representing 4.8% of total export value flows.

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

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

Imports maize to Asia

Imports in kind, M t

The data shows irregular changes, indicating a volatile market environment. Imports reached their lowest point in 2017 and peaked in 2018, with a 2.2-fold difference between these years. In 2020, foreign maize supplies to Asia amounted to 83.0 million tonnes, representing an 11.4% increase from the previous year. The highest import volume was recorded in 2018 at 133.8 million tonnes. The largest decline occurred in 2019 with a 44.3% decrease, while the most significant increase was in 2018 with a 117.2% rise.

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

From 2017 to 2020, the United States (27.9% of imports in kind), Argentina (19.4%), and Brazil (17.3%) consistently served as the main sources for maize imports, collectively accounting for 64.5% of total import flows.

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

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

Imports in value, M $ US

Asia's maize imports increased for the third consecutive year in 2020, reaching 18 002 million US dollars. This represented a 10.8% year-on-year rise. Between 2017 and 2020, imports grew by 41.7%, equating to a 12.3% annualized growth rate.

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

From 2017 to 2020, the leading sources for maize imports to Asia in value terms were the United States (27.7% of imports in value terms), Argentina (19.5%), and Brazil (16.3%), which together accounted for 63.5% of total import value flows.

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

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