Price for Cereal Groats and Meal; of Maize (Corn) in New Zealand - 2023

Contents:

1. Price for Cereal Groats and Meal; of Maize (Corn) in New Zealand (FOB) - 2022
2. Price for Cereal Groats and Meal; of Maize (Corn) in New Zealand (CIF) - 2022
3. Exports of Cereal Groats and Meal; of Maize (Corn) in New Zealand
4. Imports of Cereal Groats and Meal; of Maize (Corn) in New Zealand

Price for Cereal Groats and Meal; of Maize (Corn) in New Zealand (FOB) - 2022

The average export price for cereal groats and meal; of maize (corn)s stood at $851 per ton in 2022, picking up by 13% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($1,151 per ton), while the average price for exports to New Caledonia ($659 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 Singapore (+2.7%), while the prices for the other major destinations experienced mixed trend patterns.

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

In 2022, the average import price for cereal groats and meal; of maize (corn)s amounted to $993 per ton, waning by -13.6% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for cereal groats and meal; of maize (corn)s increased by +56.3% against 2018 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 40% against the previous year. The import price peaked at $1,148 per ton in 2021, and then fell in the following year.

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 Australia ($6,469 per ton), while the price for South Africa ($880 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+23.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Cereal Groats and Meal; of Maize (Corn) in New Zealand

For the fourth year in a row, New Zealand recorded growth in overseas shipments of cereal groats and meal; of maize (corn)s, which increased by 60% to 2K tons in 2022. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 395% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of cereal groats and meal; of maize (corn)s surged to $1.7M in 2022. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 404%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

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

1. Australia (640.0 tons)
2. Fiji (470.3 tons)
3. Papua New Guinea (439.2 tons)
4. New Caledonia (186.4 tons)
5. Taiwan (Chinese) (163.7 tons)
6. Singapore (29.9 tons)

Imports of Cereal Groats and Meal; of Maize (Corn) in New Zealand

In 2022, the amount of cereal groats and meal; of maize (corn)s imported into New Zealand reached 124 tons, rising by 2.2% on 2021. Over the period under review, imports, however, showed a dramatic descent.

In value terms, imports of cereal groats and meal; of maize (corn)s contracted to $123K in 2022. In general, imports, however, faced a precipitous slump. The pace of growth appeared the most rapid in 2021 with an increase of 31% against the previous year.

Top Suppliers of Cereal Groats and Meal; of Maize (Corn) to New Zealand in 2022:

1. South Africa (103.7 tons)
2. Italy (11.3 tons)
3. China (8.4 tons)

Source: IndexBox Market Intelligence Platform