Maize market in India

Earlier Report Observations

The maize market in India showed consistent growth from 27.1 million tonnes in 2018 to 34.4 million tonnes in 2023. Early policy focus on increasing production under initiatives like the National Food Security Mission supported cultivation in major states, setting a foundation for expansion.

A significant driver emerged from the government's push to boost ethanol production from maize, including higher procurement prices for corn-based ethanol and a ban on using sugarcane for ethanol. This shift, combined with rising demand from the poultry feed and starch sectors, sharply increased domestic consumption and turned India into a net importer by 2023.

In 2024, policy support continued with the lifting of restrictions on genetically modified maize to stabilize supply, while demand from ethanol distilleries and animal feed remained strong, shaping the market's ongoing development.

Production maize in India

In kind, 2017-2020, K t

India was one of the world's top maize producers from 2017 to 2020, ranking 6th globally by production volume during this period.

Top producers of maize, 2017-2020

World map of production of maize, 2017-2020

In 2020, India produced 30 892 K t of maize, representing a significant 11.4% increase compared to the previous year. Over the 2017-2020 period, production grew by 14%, with an average annual growth rate of 4.5%. The only decline occurred in 2019, when production fell by 1.1%.

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

Exports maize from India

Exports in kind, K t

The market showed considerable volatility during these years. Exports reached their lowest point in 2019 at 379 K t, then surged to a peak of 1 767 K t in 2020, creating a 4.7-fold difference between these two years. The 2020 export volume reflected a dramatic 365.6% increase compared to 2019. The largest decline occurred in 2019, when exports dropped by 62.6%.

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

From 2017 to 2020, Nepal and Bangladesh accounted for the majority of India's maize exports in volume terms, while other markets played relatively minor individual roles.

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

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

Exports in value, M $ US

The market displayed an unstable trend throughout this period. Export values reached their lowest point in 2019 at 143.9 M $ US, then climbed to their highest level in 2020 at 389.3 M $ US, representing a 2.7-fold variation. The 2020 value marked a substantial 170.6% increase compared to the previous year. The largest decline occurred in 2019, when export values fell by 43.4%.

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

Throughout 2017-2020, Nepal (41.1% of export value), Bangladesh (34.8% of export value), and Myanmar (3.5% of export value) were India's key export partners in value terms, together accounting for 79.4% of total export flows.

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

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

Imports maize to India

Imports in kind, K t

The market exhibited an unstable trend during this timeframe. Imports reached their lowest point in 2018 at 31 K t, then peaked in 2019 at 312 K t, creating a 10.1-fold difference between these years. In 2020, India's maize imports stood at 232 K t, which was 25.8% lower than in 2019. The largest decline occurred in 2018, when imports fell by 62.5%, while the largest increase happened in 2019, with imports surging by 908.9%.

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

From 2017 to 2020, Ukraine (46.4% of import volume), Myanmar (29.1% of import volume), and Singapore (6.9% of import volume) were the leading sources of maize imports to India in volume terms, together accounting for 82.4% of total import flows.

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

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

Imports in value, M $ US

Volatility characterized the market during these years. Import values reached their lowest point in 2018 at 15.5 M $ US, then peaked in 2019 at 76.5 M $ US, representing a 4.9-fold variation. In 2020, India's maize imports amounted to 64.7 M $ US, marking a 15.4% year-over-year reduction. The largest decline occurred in 2018, when import values fell by 41.3%, while the largest increase happened in 2019, with values surging by 393.0%.

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

From 2017 to 2020, Ukraine (35.7% of import value), Myanmar (27.1% of import value), and Argentina (9.3% of import value) were the primary suppliers of maize to India in value terms, jointly accounting for 72.2% of total import value.

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

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