The import of maize groats or meal to Saudi Arabia has shown considerable growth over the past decade. In 2023, the volume stood at 14.165 million kilograms. This represents a year-on-year increase of 4.55%, with a compound annual growth rate (CAGR) of 5.73% over the last five years.
Significant growth periods were observed in 2015 with a staggering 110.69% year-on-year increase, followed by a 44.03% hike in 2017. However, there were also periods of slight decline, such as in 2016 and 2018, hinting at market fluctuations.
From 2019 to 2023, the growth became more stable, averaging out to more modest increases. The forecast from 2024 to 2028 predicts continued growth at a CAGR of 2.96%, with an overall predicted growth rate of 15.7% over the five years, reaching 17.078 million kilograms by 2028.
Moving forward, key trends to watch include the stability of import growth rates, potential shifts in domestic demand, and changes in international trade policies affecting maize imports.
