Market Trends of Argentina Maize Industry
This section covers the major market trends shaping the Argentina Maize Market according to our research experts:
The Rise in the Maize Cultivation Area
The area under maize cultivation has been increasing continuously since 2016. The primary reason for such an increase is the rise in domestic and export demand and demand from animal feed industries. According to FAO, Area under maize cultivation was recorded as 7.1 million hectare in 2018, which is 0.6 million more than the previous year. Even though the area under cultivation is increasing, a drastic reduction in the maize yield is noticed. In 2018, the country witnessed a reduction of 6.01 million metric ton of yield, mainly due to drought conditions.
Argentina Dominates the Maize Exporting Market
Argentina is the second-largest exporter of maize in the world after the United States. The country exported maize worth value of 4.1 billion in 2018, which was 13.4% of the global exports. The major exporting partners are Vietnam, Algeria, Egypt, and Malaysia, with 18.8%, 14.3%, 11.4%, and 9.6% of the exporting value share. Ukraine, Indonesia, and India are the minor exporters of maize from Argentina. Even though Argentina is one of the top exporters, it imports a minor maize quantity from the United States and Bolivia.
