Price for Cereal Grains; Worked (Eg Hulled, Pearled, Sliced or Kibbled) of Maize (Corn) in India - 2023

Contents:

1. Price for Cereal Grains; Worked (Eg Hulled, Pearled, Sliced or Kibbled) of Maize (Corn) in India (FOB) - 2023
2. Price for Cereal Grains; Worked (Eg Hulled, Pearled, Sliced or Kibbled) of Maize (Corn) in India (CIF) - 2022
3. Exports of Cereal Grains; Worked (Eg Hulled, Pearled, Sliced or Kibbled) of Maize (Corn) in India
4. Imports of Cereal Grains; Worked (Eg Hulled, Pearled, Sliced or Kibbled) of Maize (Corn) in India

Price for Cereal Grains; Worked (Eg Hulled, Pearled, Sliced or Kibbled) of Maize (Corn) in India (FOB) - 2023

The average export price for cereal grains; worked (eg hulled, pearled, sliced or kibbled) of maize (corn) stood at $412 per ton in November 2023, reducing by -2% against the previous month. Over the period under review, the export price showed a slight shrinkage. The pace of growth was the most pronounced in July 2023 when the average export price increased by 28% month-to-month. The export price peaked at $491 per ton in November 2022; however, from December 2022 to November 2023, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In November 2023, the countries with the highest prices were Cambodia ($432 per ton) and South Korea ($416 per ton), while the average price for exports to Malaysia ($366 per ton) and Thailand ($387 per ton) were amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+1.5%), while the prices for the other major destinations experienced a decline.

Price for Cereal Grains; Worked (Eg Hulled, Pearled, Sliced or Kibbled) of Maize (Corn) in India (CIF) - 2022

In 2022, the average import price for cereal grains; worked (eg hulled, pearled, sliced or kibbled) of maize (corn) amounted to $470 per ton, picking up by 4.7% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable downturn. The growth pace was the most rapid in 2014 an increase of 135% against the previous year. The import price peaked at $2,317 per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for South Korea.

From 2012 to 2022, the rate of growth in terms of prices for South Korea amounted to +2.0% per year.

Exports of Cereal Grains; Worked (Eg Hulled, Pearled, Sliced or Kibbled) of Maize (Corn) in India

In 2022, after three years of growth, there was significant decline in overseas shipments of cereal grains; worked (eg hulled, pearled, sliced or kibbled) of maize (corn), when their volume decreased by -5.8% to 25K tons. The total export volume increased at an average annual rate of +2.1% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 9.5% against the previous year.

In value terms, exports of cereal grains; worked (eg hulled, pearled, sliced or kibbled) of maize (corn) expanded rapidly to $11M in 2022. The total export value increased at an average annual rate of +6.6% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 12%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Top Export Markets for Cereal Grains; Worked (Eg Hulled, Pearled, Sliced or Kibbled) of Maize (Corn) from India in 2022:

1. South Korea (12.1K tons)
2. Thailand (5.0K tons)
3. Japan (4.5K tons)
4. Cambodia (1.0K tons)
5. Saudi Arabia (0.5K tons)
6. Malaysia (0.5K tons)

Imports of Cereal Grains; Worked (Eg Hulled, Pearled, Sliced or Kibbled) of Maize (Corn) in India

For the fourth consecutive year, India recorded growth in purchases abroad of cereal grains; worked (eg hulled, pearled, sliced or kibbled) of maize (corn), which increased by 20% to 1.3K tons in 2022. Overall, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 527%. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, imports of cereal grains; worked (eg hulled, pearled, sliced or kibbled) of maize (corn) skyrocketed to $627K in 2022. Over the period under review, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 494% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Top Suppliers of Cereal Grains; Worked (Eg Hulled, Pearled, Sliced or Kibbled) of Maize (Corn) to India in 2022:

1. South Korea (1.3K tons)

Source: IndexBox Market Intelligence Platform