Maize market in South-eastern Asia

Earlier Report Observations

The maize market volume in South-eastern Asia declined from 74.7 million tons in 2018 to 52.3 million tons in 2020. This contraction coincided with subdued inflation and labor market slack due to global economic factors, which dampened cost pressures across food production and retail. Concurrently, the rapid growth of online and social shopping began to reshape grocery retail channels, influencing how agricultural products reached consumers.

After a further decrease to 48.0 million tons in 2021, the market rebounded to 51.3 million tons in 2022. This recovery was primarily driven by emerging food and beverage trends focusing on health, sustainability, and plant-based eating, which increased demand for maize as a key ingredient. Government and industry efforts to support local production, including trial launches of homegrown brands, also contributed to stabilizing domestic output during this period.

In 2023, the market volume edged down to 49.7 million tons while the sector maintained a strong focus on sustainability and innovation, marked by the expansion of organic product lines and growing e-commerce penetration. Factors identified for 2024, such as easing inflationary pressures and continued technological advancements in logistics and smart dining concepts, are part of the evolving market landscape.

Production maize in South-eastern Asia

In kind, 2017-2020, K t

Top producers of maize, 2017-2020

World map of production of maize, 2017-2020

Maize production in South-eastern Asia has declined for the third year in a row. In 2020, the region produced 34 330 thousand tonnes of maize, marking a 15.5% year-on-year decrease. From 2017 to 2020, production fell by 27.6%, which translates to an average annual decline of 10.2%.

Annual dynamics of production in South-eastern Asia in kind, 2017-2020, K t

Exports maize from South-eastern Asia

Exports in kind, K t

In 2020, South-eastern Asia exported 589 thousand tonnes of maize, a sharp 29.1% drop compared to 2019. Over the period from 2017 to 2020, exports decreased by 52.2%, with a compound annual growth rate of -21.8%. The largest decline occurred in 2018, at 41.5%, while the biggest increase was in 2019, at 15.4%.

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

From 2017 to 2020, China, India, and Asia not elsewhere specified were the primary markets for maize exports from South-eastern Asia. China accounted for 21.5% of exports in kind, India for 4.4%, and Asia not elsewhere specified for 0.8%, together representing 26.8% of total export flows.

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

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

Exports in value, M $ US

After two years of decline, South-eastern Asia's maize export volume increased. In 2020, exports reached 642 million US dollars, up 64.4% year-on-year. Between 2017 and 2020, exports grew by 12.9%, equivalent to an annualized rate of 4.1%. The lowest value was recorded in 2019 at 390 million US dollars, with the largest decline that year at 21.6%.

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

During 2017–2020, maize from South-eastern Asia was exported to numerous countries. Even the top destinations—China, India, and Pakistan—collectively made up only 37.7% of total exports in value terms.

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

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

Imports maize to South-eastern Asia

Imports in kind, K t

The import market for maize in South-eastern Asia showed volatility from 2017 to 2020. Imports peaked in 2018 at 34 564 thousand tonnes and hit their lowest point in 2017, with a 2.7-fold difference between these years. In 2020, imports were recorded at 18 542 thousand tonnes, 12.2% higher than in 2019. The largest decline occurred in 2019, at 52.2%, while the biggest increase was in 2018, at 174.2%.

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

From 2017 to 2020, Argentina and Brazil dominated the import market for maize in kind, jointly accounting for 85.6% of total flows, with other countries making up the remainder.

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

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

Imports in value, M $ US

Maize import volume in South-eastern Asia increased for the third consecutive year. In 2020, imports amounted to 3 969 million US dollars, a substantial 11.6% rise compared to 2019. Between 2017 and 2020, imports grew by 55.7%, equating to an annualized rate of 15.9%.

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

In 2017–2020, Argentina and Brazil were the dominant sources for maize imports in value terms, jointly taking 80.8% of total flows, while other markets accounted for the rest.

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

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