Price for Cereals; Maize (Corn), Seed in Pakistan - 2023
Contents:
- Price for Cereals; Maize (Corn), Seed in Pakistan (CIF) - 2022
- Price for Cereals; Maize (Corn), Seed in Pakistan (FOB) - 2022
- Imports of Cereals; Maize (Corn), Seed in Pakistan
- Exports of Cereals; Maize (Corn), Seed in Pakistan
Price for Cereals; Maize (Corn), Seed in Pakistan (CIF) - 2022
In 2022, the average cereals; maize (corn), seed import price amounted to $3,056 per ton, shrinking by -5.5% against the previous year. In general, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cereals; maize (corn), seed import price increased by +1.8% against 2020 indices. The growth pace was the most rapid in 2018 when the average import price increased by 69%. As a result, import price reached the peak level of $3,317 per ton. From 2019 to 2022, the average import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($3,106 per ton) and Thailand ($3,065 per ton), while the price for Turkey ($2,318 per ton) and Brazil ($2,728 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereals; Maize (Corn), Seed in Pakistan (FOB) - 2022
In 2022, the average cereals; maize (corn), seed export price amounted to $390 per ton, jumping by 16% against the previous year. In general, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cereals; maize (corn), seed export price increased by +94.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 68%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Afghanistan ($555 per ton), while the average price for exports to the United Arab Emirates ($195 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 Afghanistan (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cereals; Maize (Corn), Seed in Pakistan
Cereals; maize (corn), seed imports into Pakistan soared to 26K tons in 2022, jumping by 17% compared with 2021. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +15.9% 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 +55.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 20% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, cereals; maize (corn), seed imports rose rapidly to $79M in 2022. In general, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +15.7% 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 +55.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 29% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Cereals; Maize (Corn), Seed in Pakistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 16.1 | 25.2 | 35.8 | 38.6 | 33.8% |
| United States | 18.8 | 24.8 | 33.7 | 36.3 | 24.5% |
| Turkey | 3.2 | 2.9 | 0.4 | 2.3 | -10.4% |
| India | 11.1 | N/A | N/A | N/A | 0% |
| Others | 2.0 | 2.9 | 1.9 | 2.1 | 1.6% |
| Total | 51.2 | 55.7 | 71.8 | 79.3 | 15.7% |
Top Suppliers of Cereals; Maize (Corn), Seed to Pakistan in 2022:
- Thailand (12.6K tons)
- United States (11.7K tons)
- Turkey (1.0K tons)
Exports of Cereals; Maize (Corn), Seed in Pakistan
For the fourth consecutive year, Pakistan recorded growth in shipments abroad of cereals; maize (corn), seeds, which increased by 27% to 19K tons in 2022. In general, exports saw a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 272%. The exports peaked in 2022 and are likely to continue growth in the near future.
In value terms, cereals; maize (corn), seed exports skyrocketed to $7.5M in 2022. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 525%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.
| Export of Cereals; Maize (Corn), Seed in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 145 | 174 | 2,475 | 6,100 | 247.8% |
| Afghanistan | 111 | 20.4 | 296 | 729 | 87.3% |
| United Arab Emirates | 23.9 | 295 | 60.5 | 610 | 194.4% |
| Sri Lanka | 503 | 75.5 | N/A | N/A | -85.0% |
| Vietnam | N/A | N/A | 1,748 | N/A | 0% |
| Others | 58.1 | 250 | 514 | 33.1 | -17.1% |
| Total | 840 | 815 | 5,094 | 7,473 | 107.2% |
Top Export Markets for Cereals; Maize (Corn), Seed from Pakistan in 2022:
- Malaysia (14.7K tons)
- United Arab Emirates (3.1K tons)
- Afghanistan (1.3K tons)
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