DURBAN’SMAIZE (CORN) EXPORT GROWTH ACCELERATES WITH SOUTH KOREA AND ITALY AS LEADINGNEW MARKETS FOR DEMAND
[HS100590] Cereals: maize (corn), other than seed
INTRODUCTION
The data on Durban's maize (corn) exports from 2016 to 2023 tells a remarkable story of growth, with export values skyrocketing by 1003% from R303 million in 2019 to R3.4billion in 2023. This impressive rise has been driven by a combination of expanding market demand and strategic export partnerships. While Durban's maize exports have traditionally relied on strong African markets, the surge has been largely fueled by new demand from international markets, particularly South Korea, which began importing maize from Durban in 2020, and Italy, which followed in 2021. These new markets have significantly boosted Durban's global maize trade, showcasing the city's strength and adaptability in the international export landscape.
MAIZE (CORN) EXPORT PERFORMANCE INDURBAN
In the first quarter of 2024, Durban's maize exports reached R4.9 billion, but dropped to R3.3 billion in the second quarter, marking a 48% decline. This decrease suggests several factors such as ongoing conflicts, impacting the global value chain may have influenced the drop in export volumes or values.
In 2019, maize exports fell to R303million, a 30.9% decline from 2018. However, in 2020, exports surged to R2.47billion, a 712% increase, driven by the global demand for staple foods during the COVID-19 pandemic. The growth continued in 2021, with exports reaching R3.8 billion, a 54.9% rise.
After two years of exceptional growth,2022 saw a slight dip to R3.7 billion, a 2.9% decrease, likely due to stabilization in global supply chains. In 2023, exports fell further to R3.4billion, a 9.7% drop, though still significantly higher than pre-pandemic levels, highlighting the strength of Durban’s maize export market.
Figure:1 Export for maize (corn)
Source:Quantec, EasyData, 2024
TOPEXPORT DESTINATIONS FOR DURBAN’S MAIZE (CORN) MARKETS
The latest export data reveals that the Republic of Korea (South Korea) and Italy have emerged as significant new destinations, with demand for maize exports surging in these countries.
South Korea has emerged as Durban’s largest maize export market in recent years, importing R1.0 billion worth of maize. This milestone highlights Durban’s growing global reputation for providing reliable staple crops, with South Korea's demand reflecting broader trends in food security across East Asia. Similarly, Italy has become a significant market, importing R491 million in maize, diversifying Durban's reach and demonstrating its ability to meet European agricultural demands.
While these new markets drive much of the recent growth, several African countries remain key export partners. Zimbabwe imported R459 million worth of maize, continuing its reliance on Durban as a crucial supplier in Southern Africa. Mozambique and Botswana also remain vital markets, importing R335 million and R204 million, respectively, underscoring the importance of intra-African trade for regional food security.
Kenya and Lesotho have also been steady partners, with imports valued at R127 million and R116 million, respectively, further strengthening trade ties in East and Southern Africa. Outside Africa, Mexico imported R323 million in maize, while Japan contributed R214 million, solidifying Durban’s growing global export footprint and offering opportunities for further expansion into international markets.
UNTAPPEDEXPORT OPPORTUNITIES: TARGET MARKETS FOR MAIZE (CORN) PRODUCTS (R’MILLIONS)
Figure:2 Potential export markets
Source: Export Market Finder v24, Trade Research Advisory
CONCLUSION
While Durban’s maize exports have always been driven by strong demand from African nations, the inclusion of new markets like South Korea and Italy has transformed the city's export changes in volume. The growing global demand, coupled with the sustained reliance on key African partners, positions Durban as a major player in the global maize (corn) export market. For detailed insights on your export market and potential target opportunities, please reach out to the EDGE team.
Produced by The Durban EDGE Team of the
Policy, Strategy, Innovation, and Research Department of
The Economic Development Unit of eThekwini Municipality
For more information, contact edge@durban.gov.za
Ref: Siphesihle.Thusi@durban.gov.za
Economic Research Advisor
Economic Information and Research
