Asia: Grain Market 2024

Grain Market Size in Asia

For the third consecutive year, the Asian grain market recorded growth in sales value, which increased by X% to $X.2B in 2022. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in years to come.

Grain Production in Asia

In value terms, grain production contracted slightly to $X.1B in 2022 estimated in export price. The total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X.3B in 2019; however, from 2020 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were China (X tons), India (X tons) and Indonesia (X tons), with a combined X% share of total production. Bangladesh, Pakistan, Vietnam, Thailand, Turkey, Myanmar and the Philippines lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

The average grain yield shrank slightly to X tons per ha in 2022, standing approx. at 2021 figures. Over the period under review, the yield, however, recorded mild growth. The pace of growth was the most pronounced in 2015 when the yield increased by X% against the previous year. Over the period under review, the grain yield hit record highs at X tons per ha in 2021, and then declined slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of cereal grains production in Asia shrank slightly to X ha, stabilizing at the previous year. In general, the harvested area, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the harvested area increased by X%. The level of harvested area peaked at X ha in 2021, and then declined modestly in the following year.

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Grain Exports

Exports in Asia

For the third consecutive year, Asia recorded growth in overseas shipments of cereal grains, which increased by less than X% to X tons in 2022. Over the period under review, exports saw a modest expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

In value terms, grain exports expanded significantly to $X in 2022. Overall, exports enjoyed pronounced growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

India (X tons) and Kazakhstan (X tons) dominates exports structure, together achieving X% of total exports. Myanmar (X tons) took the next position in the ranking, followed by Turkey (X tons). All these countries together took approx. X% share of total exports. Pakistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Turkey (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), Kazakhstan ($X) and Myanmar ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Among the main exporting countries, Myanmar, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Turkey ($X per ton) and Myanmar ($X per ton), while Kazakhstan ($X per ton) and Pakistan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (X%), while the other leaders experienced more modest paces of growth.

Grain Imports

Imports in Asia

In 2022, overseas purchases of cereal grains decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, grain imports rose rapidly to $X in 2022. Over the period under review, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons), distantly followed by Japan (X tons), South Korea (X tons), Vietnam (X tons), Turkey (X tons), Iran (X tons), Saudi Arabia (X tons) and Indonesia (X tons) represented the largest importers of cereal grains, together comprising X% of total imports. Bangladesh (X tons), the Philippines (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons) and Yemen (X tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of X% from 2012 to 2022. At the same time, Bangladesh (X%), Vietnam (X%), Turkey (X%), the Philippines (X%), Taiwan (Chinese) (X%), Indonesia (X%), Malaysia (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. Yemen, Iran, Saudi Arabia and Japan experienced a relatively flat trend pattern. While the share of China (X p.p.), Vietnam (X p.p.), Bangladesh (X p.p.), Turkey (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (X p.p.), Iran (X p.p.), Saudi Arabia (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Vietnam, Turkey, Indonesia, the Philippines, Saudi Arabia, Iran, Taiwan (Chinese), Bangladesh, Malaysia and Yemen lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Bangladesh, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price showed slight growth. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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