Price for Cereal Groats and Meal; of Maize (Corn) in Saudi Arabia - 2022

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

In 2022, the average export price for cereal groats and meal; of maize (corn)s amounted to $563 per ton, increasing by 29% against the previous year. Overall, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for cereal groats and meal; of maize (corn)s increased by +96.3% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($712 per ton), while the average price for exports to Jordan ($559 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 Yemen (+28.4%), while the prices for the other major destinations experienced more modest paces of growth.

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

In 2021, the average import price for cereal groats and meal; of maize (corn)s amounted to $391 per ton, reducing by -4.1% against the previous year. Over the period under review, the import price recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2020 an increase of 9.6% against the previous year. Over the period under review, average import prices hit record highs at $594 per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for Qatar amounted to +1.7% per year.

Exports of Cereal Groats and Meal; of Maize (Corn) in Saudi Arabia

In 2022, overseas shipments of cereal groats and meal; of maize (corn)s were finally on the rise to reach 1.9K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, faced a deep downturn.

In value terms, exports of cereal groats and meal; of maize (corn)s surged to $1.1M in 2022. In general, exports continue to indicate buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Cereal Groats and Meal; of Maize (Corn) in Saudi Arabia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Jordan	742	22.8	N/A	974	9.5%
Yemen	90.1	10.2	36.0	77.9	-4.7%
Bahrain	34.1	3.5	13.3	29.1	-5.1%
India	N/A	75.6	N/A	N/A	0%
Others	5.7	3.1	4.1	N/A	-15.2%
Total	872	115	53.4	1,081	7.4%

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

Jordan (1742.6 tons)
Yemen (136.5 tons)
Bahrain (40.9 tons)

Imports of Cereal Groats and Meal; of Maize (Corn) in Saudi Arabia

For the third consecutive year, Saudi Arabia recorded growth in overseas purchases of cereal groats and meal; of maize (corn)s, which increased by 9.4% to 13K tons in 2021. The total import volume increased at an average annual rate of +6.4% from 2019 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, imports attained 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 totaled $5M in 2021. The total import value increased at an average annual rate of +9.1% from 2019 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 13%. Imports peaked in 2021 and are expected to retain growth in the immediate term.