Market research

Maize market in Latin America and the Caribbean

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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"Latin America and the Caribbean" region includes following countries:

Argentina

Bolivia

Bouvet Island

Brazil

Chile

Colombia

Ecuador

Falkland Islands (Malvinas)

South Georgia and the South Sandwich Islands

French Guiana

Guyana

Paraguay

Peru

Suriname

Uruguay

Venezuela

Belize

Costa Rica

El Salvador

Guatemala

Honduras

Mexico

Nicaragua

Panama

Antigua and Barbuda

the Bahamas

Barbados

British Virgin Islands

Cayman Islands

Cuba

Dominica

Dominican Republic

Grenada

Guadeloupe

Haiti

Jamaica

Martinique

Montserrat

Curacao

Aruba

Saint Maarten (Dutch part)

Bonaire

Puerto Rico

Saint-Barthélemy

Saint Kitts and Nevis

Anguilla

Saint Lucia

Saint-Martin (French Part)

Saint Vincent and the Grenadines

Trinidad and Tobago

Turks and Caicos Islands

United States Virgin Islands

Earlier Report Observations

The maize market in Latin America and the Caribbean expanded from 145.4 million tons in 2018 to 178.9 million tons in 2023, representing a 23% increase over the period. Growth was particularly strong between 2018 and 2021, when market volume reached 183.3 million tons, followed by a slight contraction in 2022 and a recovery in 2023. Production rose steadily, with output climbing from 171 million tons in 2018 to 219.4 million tons in 2023, while trade flows also intensified.

In 2023, the region accounted for approximately 24% of global maize production, with Brazil and Argentina as key exporters. The adoption of new technologies to increase yields and enhance agricultural resilience supported production growth. Mexico's reintroduction of guaranteed price policies aimed to incentivize local production and mitigate the impact of international price fluctuations. The U.S. Free Trade Agreement continued to shape trade patterns, increasing imports of U.S. maize in markets like Colombia and affecting domestic prices.

By 2024, demand factors such as improved economic conditions, higher disposable income, and rising poultry consumption bolstered the use of maize for animal feed. Abundant supply in South America and the widespread adoption of advanced cultivation and irrigation techniques contributed to market stability. Regional disparities persisted, with reports of some farmers in Ecuador facing sales difficulties due to market saturation, highlighting local supply-demand imbalances.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Latin America and the Caribbean
  1. 5.1.1. Annual dynamics of production in Latin America and the Caribbean in kind, 2018-2023, M t
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, M t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, M t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Exports
1. 6.1. Exports (Direct Data*)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, K t
    1. 6.1.2.1. Annual dynamics of product's exports from Argentina in kind, 2018-2024, K t
    2. 6.1.2.2. Dynamics of product's exports in kind from Argentina by countries, 2018-2024, K t
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.1.3. Exports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Argentina in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Argentina by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's exports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Argentina, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's exports from Argentina by countries, 2018-2024, $ US/t
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, K t
    1. 6.2.2.1. Annual dynamics of product's exports from Argentina in kind, 2018-2024, K t
    2. 6.2.2.2. Dynamics of product's exports in kind from Argentina by countries, 2018-2024, K t
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.2.3. Exports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Argentina in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Argentina by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's exports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Argentina, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's exports from Argentina by countries, 2018-2024, $ US/t
7. Imports
1. 7.1. Imports (Direct Data*)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, K t
    1. 7.1.2.1. Annual dynamics of product's imports to Argentina in kind, 2018-2024, K t
    2. 7.1.2.2. Dynamics of product's imports in kind to Argentina by countries, 2018-2024, K t
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.1.3. Imports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Argentina in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Argentina by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's imports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Argentina, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's imports to Argentina by countries, 2018-2024, $ US/t
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, K t
    1. 7.2.2.1. Annual dynamics of product's imports to Argentina in kind, 2018-2024, K t
    2. 7.2.2.2. Dynamics of product's imports in kind to Argentina by countries, 2018-2024, K t
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.2.3. Imports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Argentina in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Argentina by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's imports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Argentina, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's imports to Argentina by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production maize in Latin America and the Caribbean

In kind, 2017-2020, M t

Top producers of maize, 2017-2020

Source: SHEV.io

World map of production of maize, 2017-2020

Source: SHEV.io

Maize production in Latin America and the Caribbean has increased for the second consecutive year. In 2020, the region produced 208.2 million tonnes of maize, marking a 2.4% year-over-year increase. Over the 2017-2020 period, production grew by 7.8%, with a compound annual growth rate of 2.5%. The lowest production level was recorded in 2018 at 171.0 million tonnes, which saw the largest decline of 11.5%. In contrast, 2019 experienced the largest increase of 19.0%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, M t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(11.5%)	19.0%	2.4%	2.5%

Source: SHEV.io

In value, 2017-2020, M $ US

Maize production in Latin America and the Caribbean has increased for the third consecutive year. In 2020, the output was valued at 40 196 million US dollars, showing a modest gain of 3.2% compared to the previous year. Between 2017 and 2020, production increased by 23%, equating to an annualized growth rate of 7.2%.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	6.7%	11.7%	3.2%	7.2%

Source: SHEV.io

Exports maize from Latin America and the Caribbean

Exports in kind, K t

In 2020, maize exports from Latin America and the Caribbean amounted to 65 113 thousand tonnes, reflecting a robust reduction of 10.7% compared to the previous year. Between 2017 and 2020, exports increased by 17.9%, with an annualized growth rate of 5.7%. The minimum value was recorded in 2018 at 43 313 thousand tonnes, which saw the largest decline of 21.6%. The maximum value was reached in 2019 at 72 947 thousand tonnes, marking the largest increase of 68.4%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(21.6%)	68.4%	(10.7%)	5.7%

Source: SHEV.io

From 2017 to 2020, maize exports in kind were distributed across a wide range of partner countries. Vietnam accounted for 14.3% of exports, Egypt for 9.1%, and Iran for 8.0%, with these three countries jointly representing 31.3% of total flows.

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

Source: SHEV.io

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Source: SHEV.io

Exports in value, M $ US

In 2020, maize exports from Latin America and the Caribbean were valued at 12 570 million US dollars, corresponding to a moderate decline of 10.0% from the previous year. Over the 2017-2020 period, exports increased by 34.6%, with a compound annual growth rate of 10.4%. The minimum value was recorded in 2018 at 8 828 million US dollars, while the maximum was in 2019 at 13 967 million US dollars, which saw the largest increase of 58.2%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(5.4%)	58.2%	(10.0%)	10.4%

Source: SHEV.io

During 2017-2020, maize exports in value terms from Latin America and the Caribbean were spread relatively evenly. Vietnam accounted for 13.7% of exports, Egypt for 8.9%, and Iran for 8.0%, with these three countries jointly representing only 30.7% of total flows.

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

Source: SHEV.io

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Source: SHEV.io

Imports maize to Latin America and the Caribbean

Imports in kind, K t

The market exhibited an unstable trend throughout the timeframe. Import volumes peaked in 2019 and declined to the lowest level in 2018, with a top-to-bottom ratio of 1.9 times. In 2020, imported maize volumes in Latin America and the Caribbean totalled 30 413 thousand tonnes, which is 11.7% weaker compared to the previous year. The minimum value was recorded in 2018 at 17 746 thousand tonnes, marking the largest decline of 38.9%. The maximum value was reached in 2019 at 34 432 thousand tonnes, which saw the largest increase of 94.0%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(38.9%)	94.0%	(11.7%)	1.6%

Source: SHEV.io

From 2017 to 2020, the United States held the leading position in maize imports to Latin America and the Caribbean, with its share reaching 69.3%.

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

Source: SHEV.io

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Source: SHEV.io

Imports in value, M $ US

Maize imports in Latin America and the Caribbean have increased for the third consecutive year. In 2020, the region imported maize valued at {value_last_year} million US dollars, which is 1.2% more compared to the previous year. Over the 2017-2020 period, imports increased by 16.3%, with a compound annual growth rate of 5.2%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	11.1%	3.4%	1.2%	5.2%

Source: SHEV.io

Throughout 2017-2020, the United States was the main source for maize imports to Latin America and the Caribbean, absorbing 71.5% of total imports in value terms.

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

Source: SHEV.io

World map of product's imports to Latin America and the Caribbean in value, 2017-2020

Source: SHEV.io