Price for Cereal Groats and Meal; of Maize (Corn) in South Africa - 2023

Price for Cereal Groats and Meal; of Maize (Corn) in South Africa (FOB) - 2023

The average export price for cereal groats and meal; of maize (corn)s stood at $352 per ton in December 2023, shrinking by -3% against the previous month. Over the period under review, the export price recorded a mild decrease. The pace of growth appeared the most rapid in January 2023 when the average export price increased by 8.7% against the previous month. As a result, the export price reached the peak level of $436 per ton. From February 2023 to December 2023, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In December 2023, the country with the highest price was Cameroon ($536 per ton), while the average price for exports to Cote d'Ivoire ($311 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+0.7%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Cereal Groats and Meal; of Maize (Corn) in South Africa (CIF) - 2022

In 2022, the average import price for cereal groats and meal; of maize (corn)s amounted to $242 per ton, growing by 7% against the previous year. Overall, the import price, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2016 an increase of 33%. The import price peaked at $425 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Lesotho ($238 per ton), while the price for Botswana totaled $230 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lesotho (-5.6%).

Exports of Cereal Groats and Meal; of Maize (Corn) in South Africa

In 2022, overseas shipments of cereal groats and meal; of maize (corn)s decreased by -25% to 273K tons, falling for the second year in a row after two years of growth. Over the period under review, exports saw a noticeable downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 63%. As a result, the exports reached the peak of 504K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of cereal groats and meal; of maize (corn)s shrank markedly to $104M in 2022. Overall, total exports indicated a pronounced increase from 2019 to 2022: its value increased at an average annual rate of +4.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -32.1% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 66% against the previous year. As a result, the exports reached the peak of $154M. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Export of Cereal Groats and Meal; of Maize (Corn) in South Africa (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Mozambique	31.2	41.2	36.4	31.1	-0.1%
Lesotho	29.6	34.7	34.5	31.0	1.6%
Angola	16.1	11.5	21.6	16.2	0.2%
Cameroon	N/A	0.4	0.8	4.2	224.0%
Zimbabwe	0.4	32.3	22.8	3.7	109.9%
Burkina Faso	N/A	N/A	N/A	3.6	0%
Democratic Republic of the Congo	10.6	23.7	3.0	2.5	-38.2%
Others	4.6	10.1	4.6	12.2	38.4%
Total	92.5	154	124	104	4.0%

Top Export Markets for Cereal Groats and Meal; of Maize (Corn) from South Africa in 2022:

Lesotho (86.2K tons)
Mozambique (85.1K tons)
Angola (47.1K tons)
Zimbabwe (9.7K tons)
Cameroon (8.5K tons)
Burkina Faso (7.2K tons)
Democratic Republic of the Congo (5.8K tons)

Imports of Cereal Groats and Meal; of Maize (Corn) in South Africa

In 2022, approx. 12K tons of cereal groats and meal; of maize (corn)s were imported into South Africa; growing by 34% compared with 2021 figures. In general, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +12.8% 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 +48.5% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of cereal groats and meal; of maize (corn)s surged to $3M in 2022. Overall, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +14.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.8% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.