Maize market in Iran

Earlier Report Observations

The maize market in Iran grew from 9.6 million tons in 2018 to 10.4 million tons in 2020, despite emerging challenges. In 2018, state support and pricing policies in the animal feed sector bolstered the market, with government-owned companies playing a key role in supply. The following year, currency depreciation and the removal of the preferential exchange rate increased import costs, but a revision of market regulations helped control prices, allowing imports to continue rising. In 2020, the COVID-19 pandemic caused global supply chain disruptions and price volatility, yet Iran increased imports to 9.9 million tons, sustaining market growth.

From 2021 onward, the market contracted sharply, falling to 5.8 million tons by 2023. In 2021, currency fluctuations and difficulties accessing foreign exchange for feed imports constrained supplies, while a reduction in livestock and poultry herds lowered feed consumption. The situation worsened in 2022 as further currency depreciation led to a fourfold surge in feed prices, and import hurdles—such as problems opening letters of credit and transferring funds—curtailed maize inflows. By 2023, the market had halved compared to its 2020 peak, reflecting the cumulative impact of currency constraints, geopolitical tensions, and weaker domestic demand.

Production maize in Iran

In kind, 2017-2020, K t

Top producers of maize, 2017-2020

World map of production of maize, 2017-2020

In 2020, Iran produced 564 K t of maize, marking a 13.3% year-over-year decline. Over the 2017-2020 period, production fell by 18.7%, with a compound annual growth rate of 6.7%. The largest increase occurred in 2019, at 6.7%.

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

Exports maize from Iran

Exports in kind, K t

The market exhibited volatility during the observed period. Exports reached their lowest point in 2019 at 0.0 K t, down 93.0% from the previous year, and peaked in 2018 at 0.3 K t, resulting in a 14.2-fold difference between these years. The largest increase was recorded in 2018, at 246.3%.

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

From 2017 to 2020, Afghanistan and Iraq together accounted for 84.0% of total exports in kind, while the remaining flows were distributed across other markets.

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

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

Exports in value, M $ US

The market showed volatility over the observed period. The lowest value was recorded in 2019, with Iran exporting 0.0 M $ US of maize, an 81.4% year-over-year decrease, while the highest value occurred in 2018 at 0.2 M $ US, creating a peak-to-trough ratio of 5.4 times. The largest increase was in 2018, at 78.3%.

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

From 2017 to 2020, the leading destinations for maize exports from Iran in value terms were Afghanistan (37.2% of exports), Iraq (27.1% of exports), and Azerbaijan (23.0% of exports), which together represented 87.3% of total flows.

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

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

Imports maize to Iran

Imports in kind, K t

Imported maize volumes in Iran increased for the third consecutive year. In 2020, imports amounted to 9 882 K t, an 8.2% rise compared to the previous year. Between 2017 and 2020, imports grew by 35%, equating to a 10.5% annualized rate.

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

From 2017 to 2020, the country breakdown of imports in kind was scattered: the United Kingdom (17.7% of imports), Switzerland (15.9% of imports), and the Netherlands (13.7% of imports) together accounted for 47.3% of total flows, with no single partner emerging as clearly dominant.

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

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

Imports in value, M $ US

Foreign maize supplies to Iran increased for the third consecutive year. In 2020, imports totaled 2 522 M $ US, representing an 11.8% gain versus the previous year. Between 2017 and 2020, imports rose by 53.6%, equating to a 15.4% annualized rate.

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

From 2017 to 2020, the United Kingdom (17.7% of imports in value terms), Switzerland (15.3% of imports), and the Netherlands (13.4% of imports) formed the largest group of maize suppliers to Iran, but their combined contribution was limited to 46.4% of total imports, reflecting a diversified country structure.

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

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