Price for Cereals; Maize (Corn), Other than Seed in Pakistan - 2023
Contents:
- Price for Cereals; Maize (Corn), Other than Seed in Pakistan (FOB) - 2023
- Price for Cereals; Maize (Corn), Other than Seed in Pakistan (CIF) - 2022
- Exports of Cereals; Maize (Corn), Other than Seed in Pakistan
- Imports of Cereals; Maize (Corn), Other than Seed in Pakistan
Price for Cereals; Maize (Corn), Other than Seed in Pakistan (FOB) - 2023
In February 2023, the average export price for cereals; maize (corn), other than seeds amounted to $153 per ton, waning by -1.6% against the previous month. In general, the export price showed a abrupt contraction. The growth pace was the most rapid in November 2022 when the average export price increased by 10% m-o-m. Over the period under review, the average export prices hit record highs at $343 per ton in August 2022; however, from September 2022 to February 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Malaysia ($169 per ton), while the average price for exports to Afghanistan ($65.0 per ton) was amongst the lowest.
From July 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Cereals; Maize (Corn), Other than Seed in Pakistan (CIF) - 2022
The average import price for cereals; maize (corn), other than seeds stood at $157 per ton in 2022, rising by 3.8% against the previous year. Overall, the import price, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2014 an increase of 28%. As a result, import price attained the peak level of $558 per ton. From 2015 to 2022, the average import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($164 per ton), while the price for the United States ($140 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.9%), while the prices for the other major suppliers experienced a decline.
Exports of Cereals; Maize (Corn), Other than Seed in Pakistan
Exports of cereals; maize (corn), other than seeds from Pakistan skyrocketed to 792K tons in 2022, increasing by 124% against the year before. Over the period under review, exports showed a significant increase. The growth pace was the most rapid in 2021 when exports increased by 480%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, exports of cereals; maize (corn), other than seeds surged to $254M in 2022. Overall, exports saw a significant expansion. The growth pace was the most rapid in 2021 with an increase of 758% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to continue growth in the immediate term.
| Export of Cereals; Maize (Corn), Other than Seed in Pakistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 0.1 | 5.9 | 46.4 | 123 | 971.4% |
| Malaysia | 3.3 | 1.1 | 23.8 | 52.0 | 150.7% |
| Oman | N/A | 2.7 | 21.4 | 20.3 | 174.2% |
| South Korea | N/A | N/A | 0.3 | 20.3 | 6666.7% |
| Sri Lanka | 18.7 | 0.7 | 0.6 | 15.8 | -5.5% |
| Iraq | N/A | N/A | N/A | 5.4 | 0% |
| Afghanistan | 2.7 | 0.2 | 0.5 | 1.5 | -17.8% |
| Others | 3.7 | 1.3 | 8.4 | 15.9 | 62.6% |
| Total | 28.7 | 11.8 | 101 | 254 | 106.8% |
Top Export Markets for Cereals; Maize (Corn), Other than Seed from Pakistan in 2022:
- Vietnam (373.0K tons)
- Malaysia (170.2K tons)
- Oman (63.4K tons)
- South Korea (56.9K tons)
- Sri Lanka (42.1K tons)
- Afghanistan (24.8K tons)
- Iraq (16.5K tons)
Imports of Cereals; Maize (Corn), Other than Seed in Pakistan
In 2022, overseas purchases of cereals; maize (corn), other than seeds decreased by -13.5% to 5.8K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +20.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +74.3% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 52% against the previous year.
In value terms, imports of cereals; maize (corn), other than seeds contracted to $914K in 2022. The total import value increased at an average annual rate of +3.3% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2020 with an increase of 16%.
| Import of Cereals; Maize (Corn), Other than Seed in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 95.2 | 348 | 77.4 | 583 | 83.0% |
| United States | 257 | 222 | 696 | 206 | -7.1% |
| South Africa | 107 | 76.0 | 2.8 | 124 | 5.0% |
| Argentina | 78.5 | N/A | N/A | N/A | 0% |
| India | 98.9 | N/A | N/A | N/A | 0% |
| United Arab Emirates | 66.2 | 309 | 214 | N/A | 79.8% |
| Turkey | 72.6 | 0.4 | 6.5 | N/A | -70.1% |
| Others | 52.2 | 3.8 | 20.1 | N/A | -37.9% |
| Total | 828 | 959 | 1,017 | 914 | 3.3% |
Top Suppliers of Cereals; Maize (Corn), Other than Seed to Pakistan in 2022:
- Brazil (3.5K tons)
- United States (1.5K tons)
- South Africa (0.8K tons)
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