Maize Pricing Report

Maize Prices December 2023

The price of maize in the South Korea for Q4 2023 reached 325 USD/MT. Contrastingly, in importing nations, South Korea, maize prices faced a decline throughout October but rebounded slightly in mid-November, concluding the fourth quarter on a positive note.

The price trend for maize in Europe reached 235 USD/MT in the fourth quarter. The prices of maize in both exporting and importing nations within the European region began the fourth quarter on a pessimistic note but concluded with an upward trend.

In the Brazil, maize prices reached 240 USD/MT. Starting with October 2023, drought conditions in some regions of Argentina and Brazil impacted yields and led to a rise in corn prices.

Maize Price Trend, Market Analysis, and News

IMARC’s newly published report, titled Maize Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data, offers an in-depth analysis of maize pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing maize price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Maize Market Analysis

The global maize market size reached 1.26 Billion tonnes in 2023. By 2032, IMARC Group expects the market to reach 1.63 Billion tonnes, at a projected CAGR of 2.90% during 2023-2032.

• Agricultural policies and subsidies, which are administered by most governments around the world, also affect both maize production and trade patterns, thus influencing the market’s equilibrium.
• Moreover, the changing climatic conditions, including the pattern of rainfall and the sudden increase or dip of temperatures is acting as another crucial factor in the market growth. These factors are substantial in deciding the crop’s yields, determining supply levels and market prices.
• Government regulations and policies related to food safety, environmental protection, and genetically modified organisms (GMOs) also shape the maize market landscape.
• In addition to this, technological concerns are another crucial factor since agricultural practices such as genetically engineered crops and precision farming have become more popular. These practices have a consistent impact on productivity growth and efficiency improvements in maize farming.
• In line with this, the market demand is influenced by increase in population growth and disposable income, shifts in diets, and surging use of maize as biofuel and animal feeding.
• Moreover, escalating trade activities is a quintessential factor because the movement of maize across borders is conducive to understanding the world market dynamics of maize production and trade.
• Another factor is the most comprehensive and impacts all areas and all fields of an economy is that of the macroeconomic impact.  
• Growing tensions or conflicts in the maize-producing regions will disrupt operations and create price changes, which is providing a considerable thrust to the market growth.
• Additionally, shifts in consumer trends may indicate a choice for foods and other grains over maize, which is propelling the market growth.
• Fossil energy source costs may influence the cost of gasoline and transport, further influencing the market growth.
• Land use negatively impacts maize production, as maize lands are used for different requirements, like construction or agriculture.
• Consumer awareness and activism regarding issues such as sustainable farming practices and fair-trade influence purchasing decisions and market trends.
• Furthermore, market speculation and investor sentiment can lead to short-term fluctuations in maize prices, impacting market participants' behavior and strategies.

Maize News

The report covers the latest developments, updates, and trends impacting the global maize market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in maize production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the maize industry:

• In 2023, Cargill and Solidaridad announced a strategic global partnership across five countries to improve farmer livelihoods, improve conservation and responsible land use, and increase use of climate-friendly farming practices. The three year, USD 4.6 million program marks a new level of collaboration between the organizations that will reach an estimated 3,400 farmers in Latin America and Asia.
• In 2023, ADM launched Knwble Grwn brand to provide consumers wholesome, plant-based food ingredients that are sustainably sourced. Knwble Grwn products are produced by small or underrepresented farmers using regenerative agricultural practices that help to protect the environment.  

Product Description

Maize, also known as corn, is one of the most widely cultivated cereal crops globally, with a rich history dating back thousands of years. Originating from Central America, maize has become a staple food in many parts of the world, serving as a vital source of nutrition, feed for livestock, and raw material for various industrial applications. Its versatility and adaptability have contributed to its widespread cultivation across diverse climates and ecosystems.

The maize kernel, or seed, is the edible part of the plant and is rich in carbohydrates, dietary fiber, vitamins, and minerals. It comes in various colors, including yellow, white, and blue, each offering unique flavor profiles and nutritional compositions. Maize kernels can be consumed fresh, dried, or processed into a multitude of food products, including flour, meal, grits, cornstarch, and corn syrup.

In addition to its significance as a food crop, maize plays a crucial role in livestock feed production. Maize grains are commonly used as a primary ingredient in animal feed formulations due to their high energy content and digestibility. Furthermore, maize by-products such as corn gluten feed and distillers' grains are valuable sources of protein and nutrients for livestock, contributing to the efficiency and sustainability of meat and dairy production systems.

Regional Coverage

The report provides a detailed analysis of the maize market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends.

Global Maize Price

The report offers a holistic view of the global maize pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.

Europe Maize Price

The prices of maize in both exporting and importing nations within the European region began the fourth quarter on a negative note but concluded with an upward trend. To begin with Ukraine, a significant maize exporter, there was an ample supply of corn in the region throughout October, driven by the harvesting of the new crop.

This analysis can be extended to include detailed maize price information for a comprehensive list of countries.

North America Maize Price

Initiating with a notable price downturn, the maize market exhibited a positive market outlook in North America as the fourth quarter commenced in December 2023. At the outset, in October, maize prices experienced a continued regression, influenced by a negative demand outlook from the previous month.

Specific data on maize prices within the United States and Canada can also be provided.

Middle East and Africa Maize Price

The report explores the maize pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on maize prices for countries can also be provided.

Asia Pacific Maize Price

The maize market in the APAC region faced difficulties during the fourth quarter of 2023, as both exporting and importing nations witnessed conflicting trends. Various factors, including fluctuating demand, economic uncertainty, and a decrease in local spot market prices, contributed to the challenges faced by the market.  

This analysis can be further extended to include detailed maize prices for a comprehensive list of countries within the region.

Latin America Maize Price

The analysis of maize prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of maize pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting maize price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the maize industry.