Maize Price in South Korea
- South Korea: 325 USD/MT
Maize Prices December 2023:
- South Korea: 325 USD/MT
- Europe: 235 USD/MT
- Brazil: 240 USD/MT
Report Offering:
- Monthly Updates - Annual Subscription
- Quarterly Updates - Annual Subscription
- Biannually Updates - Annual Subscription
The study delves into the factors affecting Maize price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
Request For a Sample Copy of the Report: https://www.imarcgroup.com/maize-pricing-report/requestsample
Maize Price Trend- Q4 2023
The steadfast demand in the agricultural sector for versatile and high-yield crops is propelling the market growth of maize worldwide. Additionally, the escalating need for diverse food products due to rising global populations and the increasing demand for biofuel sources is a significant growth-inducing factor. The expansion of the agricultural landscape, characterized by the adoption of modern farming techniques and the enhancement of crop genetics, further drives market growth. Moreover, the shift toward genetically modified (GM) maize varieties, engineered for drought resistance and higher nutritional content, is advancing the market. Technological innovations in maize cultivation, aimed at improving seed germination rates and pest resistance, continue to enhance the overall yield and quality of maize crops. Furthermore, the surge in utilization of maize in the production of ethanol, responding to global energy sustainability goals, is stimulating the market. The customization of maize-based products, such as high-fructose corn syrup and biodegradable plastics, is becoming increasingly prevalent in various industries. The broadening applications of maize in sectors beyond food, including pharmaceuticals and cosmetic industries where maize derivatives are utilized, are boosting its market demand. Additionally, the commitment to food security and sustainable agricultural practices is driving the continuous cultivation and innovation in maize production. Coupled with this, advanced storage and processing technologies for maize are significantly contributing to market dynamics, ensuring efficient supply chains and reduced post-harvest losses in critical agricultural and industrial sectors.
Maize Market Analysis
The global maize market size reached 1.26 Billion tonnes in 2023. By 2032, IMARC Group expects the market to reach 1.63 Billion tonnes, at a projected CAGR of 2.90% during 2023-2032. In the last quarter of 2023, the maize (corn) market experienced a variety of influential factors that affected global pricing trend, reflecting a complex interplay of environmental, economic, and geopolitical dynamics. Starting in North America, a significant price fluctuation was initially observed due to a pessimistic demand outlook from key sectors and competition among major exporters. As the quarter progressed, however, certain regions in the U.S. faced dry weather conditions that raised concerns about potential yield reductions, subsequently increasing prices due to fears of decreased supply. This was exacerbated by delays in harvesting activities due to prolonged wet weather, which further tightened the availability of maize towards the end of December. Simultaneously, global market trend were influenced by the United Nations Food Agency’s report, which indicated a fall in the world price index to its lowest in over two years, contributing to a global decrease in maize prices earlier in the quarter.
In contrast, the Asian market, particularly China, faced a downturn due to an increase in local supply post-harvest and weakened demand from the livestock sector, impacted by a resurgence of African swine fever. This led to an abundant supply with weakened demand, pushing prices downward. However, towards the end of the quarter, South Korea saw a slight rebound in maize prices due to heightened demand for animal feed and industrial uses, such as in bioplastics and biofuels. The fluctuating international shipping costs and exchange rates also played critical roles in defining the final price points in importing nations. Meanwhile, in Europe, the maize market dynamics were shaped by the resumption of Ukrainian grain exports, which initially led to a surplus and price reduction. However, the situation pivoted as export demands from North Africa and APAC intensified, alongside rising fuel and fertilizer costs that contributed to escalating production expenses. These factors collectively influenced the European and global maize markets, underscoring the multifaceted nature of agricultural commodity pricing that spans local conditions to international economic policies and trade dynamics.
Browse Full Report: https://www.imarcgroup.com/maize-pricing-report
Key Points Covered in the Maize Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Maize Prices
- Maize Price Trend
- Maize Demand & Supply
- Maize Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Maize Price Analysis
- Maize Industry Drivers, Restraints, and Opportunities
- Maize News and Recent developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand.
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece.
- North America: United States and Canada.
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru.
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco.
Browse More Pricing Reports by IMARC Group:
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
About Us:
IMARC is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
