Price for Cereals; Maize (Corn), Seed in Thailand - 2023
Contents:
- Price for Cereals; Maize (Corn), Seed in Thailand (FOB) - 2023
- Price for Cereals; Maize (Corn), Seed in Thailand (CIF) - 2022
- Exports of Cereals; Maize (Corn), Seed in Thailand
- Imports of Cereals; Maize (Corn), Seed in Thailand
Price for Cereals; Maize (Corn), Seed in Thailand (FOB) - 2023
In September 2023, the average cereals; maize (corn), seed export price amounted to $3,743 per ton, picking up by 14% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.4%. The most prominent rate of growth was recorded in January 2023 when the average export price increased by 25% month-to-month. The export price peaked in September 2023.
There were significant differences in the average prices for the major foreign markets. In September 2023, the country with the highest price was Vietnam ($5,873 per ton), while the average price for exports to Lao People's Democratic Republic ($725 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+14.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Cereals; Maize (Corn), Seed in Thailand (CIF) - 2022
The average cereals; maize (corn), seed import price stood at $2,146 per ton in 2022, declining by -27.2% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 61%. Over the period under review, average import prices attained the maximum at $3,346 per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($4,117 per ton), while the price for India stood at $1,921 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Cereals; Maize (Corn), Seed in Thailand
Cereals; maize (corn), seed exports from Thailand surged to 40K tons in 2022, picking up by 37% on 2021. In general, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, cereals; maize (corn), seed exports surged to $111M in 2022. Overall, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +21.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.9% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Cereals; Maize (Corn), Seed in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Pakistan | 14.5 | 16.4 | 27.5 | 58.9 | 59.6% |
| Vietnam | 14.9 | 9.5 | 9.3 | 20.5 | 11.2% |
| Lao People's Democratic Republic | 1.1 | 1.3 | 1.6 | 5.2 | 67.8% |
| Ecuador | 6.2 | 6.9 | 5.2 | 4.8 | -8.2% |
| Cambodia | 4.1 | 4.5 | 3.0 | 4.6 | 3.9% |
| Peru | 1.7 | 1.6 | 2.8 | 3.6 | 28.4% |
| Egypt | 1.5 | 1.0 | 0.6 | 2.1 | 11.9% |
| Sri Lanka | 2.6 | 3.9 | 3.4 | 0.3 | -51.3% |
| Myanmar | 9.2 | 15.0 | 18.0 | N/A | 39.9% |
| Others | 6.1 | 7.6 | 9.5 | 10.8 | 21.0% |
| Total | 61.9 | 67.8 | 81.0 | 111 | 21.5% |
Top Export Markets for Cereals; Maize (Corn), Seed from Thailand in 2022:
- Pakistan (20.9K tons)
- Vietnam (7.2K tons)
- Ecuador (2.3K tons)
- Lao People's Democratic Republic (2.2K tons)
- Peru (1.7K tons)
- Cambodia (1.6K tons)
- Egypt (0.8K tons)
- Sri Lanka (0.1K tons)
Imports of Cereals; Maize (Corn), Seed in Thailand
In 2022, the amount of cereals; maize (corn), seeds imported into Thailand surged to 2.8K tons, increasing by 41% against 2021. Overall, imports enjoyed a significant expansion. The growth pace was the most rapid in 2021 when imports increased by 73% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.
In value terms, cereals; maize (corn), seed imports expanded slightly to $5.9M in 2022. In general, imports saw significant growth. The pace of growth was the most pronounced in 2021 with an increase of 56% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.
| Import of Cereals; Maize (Corn), Seed in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 0.2 | 0.3 | 0.9 | 4.8 | 188.4% |
| Indonesia | N/A | N/A | 0.3 | 1.0 | 233.3% |
| Myanmar | 2.2 | 3.4 | 4.5 | N/A | 43.0% |
| Others | N/A | N/A | 0.2 | 0.1 | -50.0% |
| Total | 2.4 | 3.7 | 5.8 | 5.9 | 35.0% |
Top Suppliers of Cereals; Maize (Corn), Seed to Thailand in 2022:
- India (2523.3 tons)
- Indonesia (243.4 tons)
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