Russian Federation: Maize Market 2024

Maize Market Size in the Russian Federation

The Russian maize market expanded to $X in 2022, picking up by X% against the previous year. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Maize Production in the Russian Federation

In value terms, maize production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Maize production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The average yield of maize in Russia contracted slightly to X tons per ha in 2022, with a decrease of X% on 2021 figures. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2019 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha. From 2020 to 2022, the growth of the average maize yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of maize were harvested in Russia; with a decrease of X% on the year before. The harvested area increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the harvested area increased by X%. The maize harvested area peaked at X ha in 2021, and then fell slightly in the following year.

Maize Exports

Exports from the Russian Federation

After two years of growth, shipments abroad of maize decreased by X% to X tons in 2022. Over the period under review, exports, however, continue to indicate a noticeable expansion. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, maize exports reduced remarkably to $X in 2022. In general, exports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2014 when exports increased by X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for maize exports from Russia, accounting for a X% share of total exports. Moreover, maize exports to Turkey exceeded the volume sent to the second major destination, South Korea (X tons), fivefold. Latvia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Turkey totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Latvia (X% per year).

In value terms, Turkey ($X) remains the key foreign market for maize exports from Russia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by Latvia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Turkey stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Latvia (X% per year).

Export Prices by Country

In 2022, the average maize export price amounted to $X per ton, growing by X% against the previous year. Overall, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Armenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Imports

Imports into the Russian Federation

In 2022, approx. X tons of maize were imported into Russia; picking up by X% against the previous year's figure. Over the period under review, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, maize imports soared to $X in 2022. Overall, imports showed buoyant growth. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Hungary (X tons), France (X tons) and Austria (X tons) were the main suppliers of maize imports to Russia, with a combined X% share of total imports. Serbia, Romania, Germany, Turkey and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest maize suppliers to Russia were Hungary ($X), France ($X) and Austria ($X), with a combined X% share of total imports.

Austria, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average maize import price amounted to $X per ton, rising by X% against the previous year. Overall, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The import price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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