Price for Cereals; Maize (Corn), Seed in Turkey - 2023
Contents:
- Price for Cereals; Maize (Corn), Seed in Turkey (FOB) - 2023
- Price for Cereals; Maize (Corn), Seed in Turkey (CIF) - 2022
- Exports of Cereals; Maize (Corn), Seed in Turkey
- Imports of Cereals; Maize (Corn), Seed in Turkey
Price for Cereals; Maize (Corn), Seed in Turkey (FOB) - 2023
In July 2023, the average cereals; maize (corn), seed export price amounted to $3,579 per ton, with a decrease of -11.6% against the previous month. In general, export price indicated a notable expansion from July 2022 to July 2023: its price increased at an average monthly rate of +3.1% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, cereals; maize (corn), seed export price decreased by -14.7% against May 2023 indices. The pace of growth appeared the most rapid in August 2022 an increase of 34% m-o-m. Over the period under review, the average export prices attained the maximum at $4,194 per ton in May 2023; however, from June 2023 to July 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In July 2023, the country with the highest price was Hungary ($16,667 per ton), while the average price for exports to Iran ($3,304 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+21.3%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Cereals; Maize (Corn), Seed in Turkey (CIF) - 2022
The average cereals; maize (corn), seed import price stood at $3,279 per ton in 2022, dropping by -18.3% against the previous year. In general, the import price saw a abrupt descent. The most prominent rate of growth was recorded in 2013 when the average import price increased by 39%. As a result, import price attained the peak level of $9,156 per ton. From 2014 to 2022, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($8,222 per ton), while the price for Italy ($2,293 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+1.6%), while the prices for the other major suppliers experienced a decline.
Exports of Cereals; Maize (Corn), Seed in Turkey
After three years of growth, overseas shipments of cereals; maize (corn), seeds decreased by -50.6% to 22K tons in 2022. Overall, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 101%.
In value terms, cereals; maize (corn), seed exports shrank remarkably to $56M in 2022. In general, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 109% against the previous year. As a result, the exports attained the peak of $77M, and then fell dramatically in the following year.
| Export of Cereals; Maize (Corn), Seed in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Uzbekistan | 1.3 | 1.9 | 8.8 | 6.7 | 72.7% |
| Italy | 3.3 | 2.4 | 7.0 | 5.3 | 17.1% |
| Romania | 1.9 | 2.6 | 6.7 | 5.1 | 39.0% |
| Iraq | 1.2 | 4.1 | 6.6 | 5.0 | 60.9% |
| Iran | 6.3 | 2.8 | 2.8 | 4.4 | -11.3% |
| France | 3.8 | 4.2 | 3.4 | 4.2 | 3.4% |
| Hungary | 1.1 | 4.5 | 5.1 | 3.8 | 51.2% |
| Morocco | 0.7 | 1.9 | 4.1 | 3.1 | 64.2% |
| Germany | 1.1 | 2.3 | 3.8 | 2.9 | 38.1% |
| Georgia | 0.9 | 1.4 | 3.6 | 2.7 | 44.2% |
| Azerbaijan | 1.8 | 2.5 | 3.6 | 2.7 | 14.5% |
| Pakistan | 2.0 | 2.6 | 3.0 | 2.6 | 9.1% |
| Others | 3.2 | 3.6 | 19.0 | 7.3 | 31.6% |
| Total | 28.6 | 37.0 | 77.4 | 55.7 | 24.9% |
Top Export Markets for Cereals; Maize (Corn), Seed from Turkey in 2022:
- Iraq (8.4K tons)
- Romania (1.7K tons)
- Italy (1.6K tons)
- Uzbekistan (1.6K tons)
- France (1.4K tons)
- Hungary (1.2K tons)
- Iran (1.1K tons)
- Germany (1.0K tons)
- Pakistan (0.7K tons)
- Morocco (0.7K tons)
- Georgia (0.5K tons)
- Azerbaijan (0.5K tons)
Imports of Cereals; Maize (Corn), Seed in Turkey
In 2022, supplies from abroad of cereals; maize (corn), seeds decreased by -57.3% to 4.6K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports continue to indicate a mild descent. The pace of growth appeared the most rapid in 2021 with an increase of 54%. As a result, imports reached the peak of 11K tons, and then declined markedly in the following year.
In value terms, cereals; maize (corn), seed imports fell markedly to $15M in 2022. Overall, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 45%. As a result, imports reached the peak of $43M, and then shrank remarkably in the following year.
| Import of Cereals; Maize (Corn), Seed in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 12.2 | 16.7 | 18.7 | 6.3 | -19.8% |
| Italy | 3.4 | 7.0 | 10.4 | 3.5 | 1.0% |
| Chile | 0.1 | 0.9 | 8.3 | 2.8 | 203.7% |
| Hungary | 2.6 | 1.0 | 1.6 | 0.7 | -35.4% |
| United States | 0.7 | 1.9 | 1.8 | 0.6 | -5.0% |
| Romania | 1.5 | 0.3 | N/A | 0.3 | -41.5% |
| Serbia | 1.0 | 0.3 | 0.3 | 0.2 | -41.5% |
| Others | 1.0 | 1.7 | 1.9 | 0.6 | -15.7% |
| Total | 22.5 | 29.7 | 43.1 | 15.0 | -12.6% |
Top Suppliers of Cereals; Maize (Corn), Seed to Turkey in 2022:
- Italy (1536.1 tons)
- France (1439.3 tons)
- Chile (1078.2 tons)
- Hungary (235.4 tons)
- Romania (101.9 tons)
- United States (75.5 tons)
- Serbia (73.8 tons)
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