Maize market in Greece

Earlier Report Observations

The Greek maize market volume grew to 2 031 thousand tonnes in 2019, supported by the introduction of new high-yield corn varieties and investment loans for new farmers, which encouraged cultivation and improved productivity. However, by 2020, market volume contracted to 1 826 thousand tonnes as both domestic production and imports declined.

A rebound occurred in 2021, with the market reaching 2 006 thousand tonnes, driven by rising domestic prices fueled by strong demand from the poultry industry and increased global trade activity. The following year saw a slight dip to 1 918 thousand tonnes, influenced by drought conditions in Southeastern Europe that limited regional supply and by disruptions in fertilizer markets and trade flows following Russia's invasion of Ukraine, which raised production costs and constrained imports.

In 2023, domestic production rose to 1 417 thousand tonnes as farmers expanded planting area in response to previously attractive prices, but overall market volume remained nearly flat at 1 921 thousand tonnes as lower global prices and moderated demand led to a reduction in imports.

Production maize in Greece

In kind, 2017-2020, K t

Top producers of maize, 2017-2020

World map of production of maize, 2017-2020

In 2020, Greece produced 1 178 K t of maize, marking a 4.5% decrease compared to the previous year. Over the period from 2017 to 2020, production fell by 19.4%, which translates to an average annual decline of 6.9%. The most significant drop occurred in 2018, with a 17.5% decrease, while the largest increase was seen in 2019, at 2.3%.

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

In value, 2017-2020, M $ US

Following a two-year decline, Greece's maize production value rebounded. In 2020, the output was valued at 784.1 M $ US, representing a 10.8% increase from 2019. The lowest value was recorded in 2019 at 707.6 M $ US, which also saw the largest decline of 6.1%.

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

Exports maize from Greece

Exports in kind, K t

After two years of losses, maize exports from Greece increased. In 2020, exports reached 8.3 K t, a significant 15.8% rise compared to 2019. However, from 2017 to 2020, exports overall decreased by 29.6%, averaging an 11.0% annual decline. The lowest export volume was in 2019 at 7.2 K t, with the largest drop occurring in 2018 at 33.5%.

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

Between 2017 and 2020, Bulgaria, Italy, and Cyprus were the top contributors to Greece's maize exports in kind. Bulgaria accounted for 43.8%, Italy for 26.8%, and Cyprus for 15.6%, together making up 86.2% 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, M $ US

Following a two-year fall, foreign maize supplies from Greece increased. In 2020, exports totaled 5.5 M $ US, a dramatic 34.4% jump from 2019. Over the 2017-2020 period, exports decreased by 13.2%, with a compound annual growth rate of -4.6%. The lowest value was in 2019 at 4.1 M $ US, and the largest decline was in 2018 at 23.0%.

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

From 2017 to 2020, Italy, Bulgaria, and Cyprus formed the key group of partners for Greece's maize exports in value terms. Italy contributed 35.1%, Bulgaria 31.1%, and Cyprus 6.7%, collectively representing 72.9% 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 to Greece

Imports in kind, K t

After two years of increase, Greece's maize import volume declined. In 2020, imports tallied 656.5 K t, a strong 18.4% loss compared to the previous year. From 2017 to 2020, imports decreased by 6.7%, averaging a 2.3% annual decline. The highest import volume was in 2019 at 804.9 K t, with the largest increase occurring in 2018 at 8.1%.

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

In the 2017-2020 period, Bulgaria, Romania, and Moldova were the largest suppliers of maize to Greece in kind. Bulgaria accounted for 50.5%, Romania for 18.4%, and Moldova for 8.7%, together forming 77.7% of total imports.

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, M $ US

Maize deliveries to Greece declined for the second consecutive year. In 2020, Greece imported approximately 155.6 M $ US of maize, down by 3.8% from 2019. The highest value was recorded in 2018 at 170.1 M $ US, which also saw the largest increase of 11.2%. The largest decline occurred in 2019 at 4.9%.

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

From 2017 to 2020, Bulgaria, Romania, and Moldova led the structure of Greece's maize imports in value terms. Bulgaria contributed 45.6%, Romania 15.6%, and Moldova 7.6%, together representing 68.9% 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