Maize plantations may appear simple but it has a great potential to create wealth, most especially when it’s processed into starch. Maize has high percentage of starch content when you compare it to rice and wheat, for example maize is said to have about 72% starch, 10% protein and 4% fat. Starch from maize is made as a unique product that is used to produce food products and medicines and as a result of this, there’s high demand for maize in global market. Its various uses in different products explain the reason why it’s referred to as ‘Queen of Cereal’. In fact, it’s the one of the most popular and important crops in the world, after rice and wheat. Some countries who have seen this wealth potential in maize plantation, are tapping into it, producing million tons of maize for international market every year. Such countries include; USA, China, Brazil, Argentina, Ukraine, Mexico, India, Indonesia, Russian Federation, Canada, Romania, France, Hungary, Bulgaria, Nigeria, South Africa, Egypt etc. for instance, a source revealed that maize provided by different countries in the global market were valued at $9.6 billion (USA); $ 6.4 billion (Argentina); $ 5.9 billion (Brazil) etc. US is said to be the world largest producer, consumer and exporter of maize. (FAO).
The increase in demand for maize in US is caused by the increase in size of livestock feed and the industrial sectors. Likewise, the increase in maize starch production in China consequently lead to high demand of maize in the world market. Another, hot cake for maize high demand in global market is corn starch used in various products. Such as papers, ethanol, sweeteners, pharmaceuticals, textile, toothpaste etc. maize is also used to produce corn oil, corn meal, chemical, etc. In 2020, it’s revealed that the global market for maize was valued at $ 36.4 billion dollars. Indeed, maize production is a source of wealth. According to International Institute of Tropical Agriculture (IITA), reveals that there are 50 types of maize with different colors and the most common color cultivated are white, yellow and brown. IITA also made it known that ‘all parts of the crop can be used for food and non-food products’. This means that all part of the crop such as the grain, the leaves, the stalk, the tassel and the cob they all have economic value. Can you imagine this fact! Truly speaking maize production is an important tool for wealth creation.
However, it’s said that 84.2 Million tons were the global maize starch market in 2022. Another, important thing about maize crop plantation is that it serves as source of material for maize starch industry to function well in the society, improving the economy as well as creating jobs for thousands of people. Thereby, serves as source of wealth. Example of such company include Cargill, incorporated founded in 1865 in US., the company supplies various food and agricultural products to their numerous customers, and the organization has over 155,000 employees in 70 countries. Another organization is Archer Daniel Midland Company founded in 1902 with its headquarters in Minnesota US. The company has its presence in over 160 countries, the company engaging in agricultural processing, food ingredients, animal nutrition and bio-fuels, amongst others. Other companies that engage in maize global market include Louis Dreyfus Company, COFCO Group, Bunge Limited, Archer Danils Midland Company, Glencore plc, Maize Suppliers, DowDuPont Inc., SATAKE CORPORATION, Lima-grain Group Holding, Bayer AG, Gurajarat Ambuja Exports Limited etc.
In conclusion, it’s glaring in this article that maize production proves to be of high economic value in different countries in the world, creating jobs for people, providing income for famers, increasing foreign exchange earnings and at the same time fighting global food shortages. It’s a crop with lowest economics cultivation when you compare it to other crops and due to its inherently higher yield potential, it has highest economic results or benefits. The growing in global population that probably leads to the growing demand for food, feed, different finished products where maize also serves as part of the materials used e.g. cosmetics and alternative fuel demand, shows clearly that maize production will play an important role to meeting these demands, therefore, creating more opportunities to create more wealth in maize production now and in future.
Thank you!
Image credited to : pixabay
