Price for Cereals; Maize (Corn), Other than Seed in Portugal - 2023
Contents:
- Price for Cereals; Maize (Corn), Other than Seed in Portugal (CIF) - 2023
- Price for Cereals; Maize (Corn), Other than Seed in Portugal (FOB) - 2023
- Imports of Cereals; Maize (Corn), Other than Seed in Portugal
- Exports of Cereals; Maize (Corn), Other than Seed in Portugal
Price for Cereals; Maize (Corn), Other than Seed in Portugal (CIF) - 2023
The average import price for cereals; maize (corn), other than seeds stood at $265 per ton in August 2023, shrinking by -6.6% against the previous month. In general, the import price saw a slight curtailment. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 15% against the previous month. Over the period under review, average import prices hit record highs at $330 per ton in April 2023; however, from May 2023 to August 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Spain ($418 per ton), while the price for Romania ($224 per ton) was amongst the lowest.
From October 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Spain (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereals; Maize (Corn), Other than Seed in Portugal (FOB) - 2023
In August 2023, the average export price for cereals; maize (corn), other than seeds amounted to $297 per ton, falling by -14.3% against the previous month. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in January 2023 when the average export price increased by 13% month-to-month. Over the period under review, the average export prices reached the peak figure at $388 per ton in April 2023; however, from May 2023 to August 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was the UK ($3,532 per ton), while the average price for exports to Spain amounted to $295 per ton.
From October 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+6.4%).
Imports of Cereals; Maize (Corn), Other than Seed in Portugal
Imports of cereals; maize (corn), other than seeds into Portugal reached 2.3M tons in 2022, surging by 9.6% on the year before. The total import volume increased at an average annual rate of +2.3% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of cereals; maize (corn), other than seeds skyrocketed to $723M in 2022. Overall, imports showed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Import of Cereals; Maize (Corn), Other than Seed in Portugal (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Brazil | 145 | 139 | 134 | 371 | 36.8% |
Ukraine | 160 | 136 | 180 | 98.9 | -14.8% |
Romania | 15.0 | 28.4 | 68.7 | 80.9 | 75.4% |
Canada | 10.6 | N/A | 38.2 | 71.9 | 89.3% |
South Africa | N/A | N/A | N/A | 18.5 | 0% |
Russia | N/A | N/A | 4.9 | 17.5 | 257.1% |
Bulgaria | 34.0 | 14.3 | 6.5 | 17.0 | -20.6% |
Spain | 17.7 | 10.6 | 8.2 | 14.1 | -7.3% |
Others | 8.4 | 29.9 | 46.6 | 33.5 | 58.6% |
Total | 391 | 358 | 487 | 723 | 22.7% |
Top Suppliers of Cereals; Maize (Corn), Other than Seed to Portugal in 2022:
- Brazil (1182.8K tons)
- Ukraine (343.5K tons)
- Romania (256.2K tons)
- Canada (189.8K tons)
- Russia (59.9K tons)
- Bulgaria (57.2K tons)
- South Africa (52.4K tons)
- Spain (37.6K tons)
Exports of Cereals; Maize (Corn), Other than Seed in Portugal
Exports of cereals; maize (corn), other than seeds from Portugal soared to 221K tons in 2022, growing by 175% against 2021 figures. In general, exports saw a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of cereals; maize (corn), other than seeds surged to $72M in 2022. Over the period under review, exports continue to indicate a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
Export of Cereals; Maize (Corn), Other than Seed in Portugal (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Spain | 29.6 | 29.6 | 21.0 | 70.9 | 33.8% |
Others | 0.8 | 0.2 | 0.7 | 1.1 | 11.2% |
Total | 30.4 | 29.9 | 21.7 | 72.0 | 33.3% |
Top Export Markets for Cereals; Maize (Corn), Other than Seed from Portugal in 2022:
- Spain (218.8K tons)
This report provides an in-depth analysis of the maize market in Portugal.
This report provides an in-depth analysis of the grain market in Portugal.
This report provides an in-depth analysis of the global maize market.
This report provides an in-depth analysis of the global grain market.
This report provides an in-depth analysis of the maize market in Portugal.
This report provides an in-depth analysis of the global maize market.
Discover the key import markets for maize globally, including China, Mexico, Japan, and more. Learn about the demand drivers and trends shaping the maize trade.
The global maize market contracted to $404.6B in 2021, declining by -6.1% against the previous year.
The global maize market is expected to reach a production volume of more than 1.2 billion metric tons by the end of 2025.
In 2022, corn prices are projected to drop by approximately 10% y/y due to an expected all-time record high global production, which is to reach 1.2B tons. This forecast is subject to a number of risks, such as volatile fertilizer and energy prices, high freight rates, biofuel policies and weather conditions.
Driven by rising demand from the food industry and favourable weather, global corn production increased significantly in 2020. The rise in prices made the raw corn-based production of bioethanol unprofitable amid the low cost of traditional fuels due to the pandemic, resulting in the closure of some distilleries. In the future, the growing demand for alternative fuels is expected to offset this shift and promote the corn market.
Global Maize Market: In 2017, the global maize market amounted to X tons, posting solid average +X% gains over the last decade. Since 2013, consumption growth has accelerated, against rising demand and a long
The U.S. was the key world maize producing country with an output of about X tons in 2016, which accounted for X% of total global output. The other major producers were China (X%), Brazil (X%) and Ukraine (X>
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