Report Asia - Crude Maize (Corn) Oil - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Asia - Crude Maize (Corn) Oil - Market Analysis, Forecast, Size, Trends and Insights

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Asia: Crude Maize Oil Market 2024

Crude Maize Oil Market Size in Asia

The Asian crude maize oil market fell slightly to $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2021, and then dropped slightly in the following year.

Crude Maize Oil Production in Asia

In value terms, crude maize oil production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 35% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Crude Maize Oil Exports

Exports in Asia

In 2022, the amount of crude maize (corn) oil exported in Asia contracted notably to X tons, with a decrease of -49.6% on the previous year. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by 156% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, crude maize oil exports fell rapidly to $X in 2022. Overall, exports, however, posted a prominent expansion. The growth pace was the most rapid in 2015 when exports increased by 307% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey prevails in exports structure, recording X tons, which was near 82% of total exports in 2022. It was distantly followed by South Korea (X tons), achieving a 6.4% share of total exports. The following exporters - the United Arab Emirates (X tons) and Taiwan (Chinese) (X tons) - each accounted for a 6.4% share of total exports.

Turkey was also the fastest-growing in terms of the crude maize (corn) oil exports, with a CAGR of +91.5% from 2012 to 2022. The United Arab Emirates experienced a relatively flat trend pattern. Taiwan (Chinese) (-8.7%) and South Korea (-9.9%) illustrated a downward trend over the same period. While the share of Turkey (+81 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-4.3 p.p.) and South Korea (-11.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest crude maize oil supplier in Asia, comprising 86% of total exports. The second position in the ranking was held by South Korea ($X), with a 4.9% share of total exports. It was followed by Taiwan (Chinese), with a 1.6% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to +89.6%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (-12.0% per year) and Taiwan (Chinese) (-13.2% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, rising by 13% against the previous year. Overall, the export price recorded a strong expansion. The growth pace was the most rapid in 2015 when the export price increased by 59%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (-1.0%), while the other leaders experienced a decline in the export price figures.

Crude Maize Oil Imports

Imports in Asia

In 2022, overseas purchases of crude maize (corn) oil decreased by -8.3% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 26%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, crude maize oil imports dropped to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 41%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

The purchases of the four major importers of crude maize (corn) oil, namely Singapore, Saudi Arabia, Kuwait and Turkey, represented more than two-thirds of total import. It was distantly followed by Azerbaijan (X tons), committing a 6.4% share of total imports. Malaysia (X tons) and Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Qatar (with a CAGR of +39.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest crude maize oil importing markets in Asia were Singapore ($X), Kuwait ($X) and Saudi Arabia ($X), with a combined 68% share of total imports. Turkey, Azerbaijan, Qatar and Malaysia lagged somewhat behind, together accounting for a further 26%.

Qatar, with a CAGR of +40.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, declining by -2.6% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 56%. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Azerbaijan ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+10.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

China remains the largest crude maize oil consuming country in Asia, comprising approx. 57% of total volume. Moreover, crude maize oil consumption in China exceeded the figures recorded by the second-largest consumer, Japan, sevenfold. The third position in this ranking was occupied by South Korea, with a 5.2% share.
China remains the largest crude maize oil producing country in Asia, accounting for 65% of total volume. Moreover, crude maize oil production in China exceeded the figures recorded by the second-largest producer, Japan, sevenfold. The third position in this ranking was occupied by Turkey, with a 7% share.
In value terms, Turkey remains the largest crude maize oil supplier in Asia, comprising 68% of total exports. The second position in the ranking was occupied by South Korea, with a 14% share of total exports. It was followed by Japan, with a 6.1% share.
In value terms, Saudi Arabia, Kuwait and Azerbaijan appeared to be the countries with the highest levels of imports in 2021, with a combined 63% share of total imports. These countries were followed by Turkey, Qatar, Malaysia and Oman, which together accounted for a further 27%.
In 2021, the export price in Asia amounted to $1,266 per ton, increasing by 30% against the previous year.
In 2021, the import price in Asia amounted to $1,085 per ton, growing by 8.5% against the previous year.

This report provides an in-depth analysis of the crude maize oil market in Asia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 60 - Oil of Maize

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in Asia, split by region and country
  • Trade (exports and imports) in Asia
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY
  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Afghanistan
    • Armenia
    • Azerbaijan
    • Bahrain
    • Bangladesh
    • Bhutan
    • Brunei Darussalam
    • Cambodia
    • China
    • Hong Kong SAR
    • Macao SAR
    • Cyprus
    • Georgia
    • India
    • Indonesia
    • Iran
    • Iraq
    • Israel
    • Japan
    • Jordan
    • Kazakhstan
    • Kuwait
    • Kyrgyzstan
    • Lebanon
    • Malaysia
    • Maldives
    • Mongolia
    • Myanmar
    • Nepal
    • Oman
    • Pakistan
    • Palestine
    • Philippines
    • Qatar
    • Saudi Arabia
    • Singapore
    • South Korea
    • Sri Lanka
    • Syrian Arab Republic
    • Taiwan (Chinese)
    • Tajikistan
    • Thailand
    • Timor-Leste
    • Turkey
    • Turkmenistan
    • United Arab Emirates
    • Uzbekistan
    • Vietnam
    • Yemen
    • Lao People's Democratic Republic
    • Democratic People's Republic of Korea
  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023
  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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