For the Quarter Ending March 2022
In North America, the prices of Maize fluctuated upwards by the end of this quarter. At the beginning of Q1 2022, the prices slightly fluctuated due to adverse climate conditions creating supply uncertainty, leading to a tight global supply market. At the onset of the second half, the prices surged due to the Russia-Ukraine war crisis and associated shipping disruption at the Ukraine port, suspending Ukraine ports and disrupting the global food supply chain. Also, China increased imports from the US, creating a supply-demand imbalance in the regional market. Towards the end of Q1 2022, the price of Wheat was recorded to be USD 362/ton FOB Texas (USA).
In the Asia-Pacific region, the prices of Maize were stagnant in Q1 2022. At the onset of Q1 2022, the prices slipped down slightly owing to favorable weather and a good harvest. With higher inventories, the supply-demand market was running normally. The prices rose significantly at the end of the first half, led by the Russia Ukraine war crisis. As the situation worsened, Ukraine halted its production units, creating pressure on the other Asian manufacturers to export Maize with the surging demand in industries for feed, globally. Towards the end of Q1 2022, the price of Maize was recorded to be USD 275/ton Spot Ex-Karnataka (India).
In Europe, the prices of Maize hovered on the upper side owing to varying factors, likely labor shortage, Russia Ukraine geopolitical conflict. At the commencement of Q1 2022, the prices dropped as the demand-supply market was regular with a strong export market. The prices surged sharply towards Q1 2022 termination. Ukraine, the world’s vital growing area, faced stifled supply due to a war crisis as a result of production halt in Ukraine, labor scarcity, and infrastructural damage. Also, the resurgence of the pandemic resulted in prolonged disruptions. Towards the end of Q1 2022, the price of Maize was recorded to be USD 387/ton FOB Marseille (France).