Price for Cereal Groats and Meal; of Maize (Corn) in the UK - 2023
Contents:
- Price for Cereal Groats and Meal; of Maize (Corn) in the UK (CIF) - 2023
- Price for Cereal Groats and Meal; of Maize (Corn) in the UK (FOB) - 2022
- Imports of Cereal Groats and Meal; of Maize (Corn) in the UK
- Exports of Cereal Groats and Meal; of Maize (Corn) in the UK
Price for Cereal Groats and Meal; of Maize (Corn) in the UK (CIF) - 2023
The average import price for cereal groats and meal; of maize (corn)s stood at $908 per ton in November 2023, remaining stable against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +3.0%. The pace of growth was the most pronounced in December 2022 when the average import price increased by 19% month-to-month. Over the period under review, average import prices hit record highs at $967 per ton in February 2023; however, from March 2023 to November 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Germany ($1,593 per ton), while the price for Belgium ($516 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Spain (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereal Groats and Meal; of Maize (Corn) in the UK (FOB) - 2022
The average export price for cereal groats and meal; of maize (corn)s stood at $804 per ton in 2022, leveling off at the previous year. Overall, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.1% 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 +16.8% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the average export price increased by 125%. Over the period under review, the average export prices attained the maximum at $826 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($9,860 per ton), while the average price for exports to Spain ($572 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 the United States (+33.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cereal Groats and Meal; of Maize (Corn) in the UK
Imports of cereal groats and meal; of maize (corn)s into the UK surged to 34K tons in 2022, jumping by 243% on 2021 figures. Over the period under review, imports saw a significant increase. 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 $21M in 2022. In general, imports showed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Cereal Groats and Meal; of Maize (Corn) in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 2.1 | 1.7 | 0.6 | 7.1 | 50.1% |
| Belgium | 2.7 | 3.4 | 0.1 | 4.7 | 20.3% |
| Italy | 0.5 | 0.3 | 0.2 | 3.3 | 87.6% |
| Spain | N/A | 0.6 | 1.8 | 2.5 | 104.1% |
| Germany | 0.5 | 1.1 | 1.5 | 2.3 | 66.3% |
| South Africa | 0.8 | 1.2 | 1.0 | 1.0 | 7.7% |
| Netherlands | 1.6 | 1.5 | 0.5 | 0.1 | -60.3% |
| Others | 0.3 | 0.3 | 0.3 | 0.4 | 10.1% |
| Total | 8.6 | 10.1 | 6.0 | 21.4 | 35.5% |
Top Suppliers of Cereal Groats and Meal; of Maize (Corn) to the UK in 2022:
- Belgium (12.2K tons)
- France (9.8K tons)
- Spain (4.1K tons)
- Italy (3.1K tons)
- Germany (2.7K tons)
- South Africa (1.5K tons)
- Netherlands (0.1K tons)
Exports of Cereal Groats and Meal; of Maize (Corn) in the UK
In 2022, shipments abroad of cereal groats and meal; of maize (corn)s decreased by -12.6% to 419 tons, falling for the second consecutive year after two years of growth. Over the period under review, exports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when exports increased by 6%. As a result, the exports attained the peak of 720 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of cereal groats and meal; of maize (corn)s reduced to $337K in 2022. In general, exports continue to indicate a deep downturn.
| Export of Cereal Groats and Meal; of Maize (Corn) in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 296 | 247 | 143 | 168 | -17.2% |
| Ireland | 139 | 97.8 | 69.5 | 76.2 | -18.2% |
| Spain | 3.5 | 5.0 | N/A | 27.0 | 97.6% |
| Netherlands | 41.8 | 22.5 | 81.8 | 26.6 | -14.0% |
| Belgium | 18.0 | 24.8 | N/A | N/A | 37.8% |
| Others | 63.1 | 98.2 | 86.0 | 38.9 | -14.9% |
| Total | 561 | 495 | 380 | 337 | -15.6% |
Top Export Markets for Cereal Groats and Meal; of Maize (Corn) from the UK in 2022:
- France (264.0 tons)
- Ireland (61.9 tons)
- Spain (47.3 tons)
- Netherlands (24.6 tons)
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