Bangladesh: Maize Oil Market 2025

Maize Oil Market Size in Bangladesh

The Bangladeshi maize oil market fell markedly to $X in 2022, waning by -22.6% against the previous year. Overall, consumption recorded a precipitous setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Maize Oil Production in Bangladesh

In value terms, maize oil production skyrocketed to $X in 2022 estimated in export price. In general, production, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 107% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Maize Oil Exports

Exports from Bangladesh

In 2022, after three years of growth, there was significant decline in overseas shipments of maize oil, when their volume decreased by -18.2% to X tons. In general, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 1,595%. The exports peaked at X tons in 2021, and then declined significantly in the following year.

In value terms, maize oil exports fell markedly to $X in 2022. Over the period under review, exports, however, showed significant growth. The pace of growth appeared the most rapid in 2015 with an increase of 622% against the previous year. The exports peaked at $X in 2021, and then fell markedly in the following year.

Exports by Country

India (X tons) was the main destination for maize oil exports from Bangladesh, accounting for a approx. 100% share of total exports.

From 2014 to 2022, the average annual growth rate of volume to India totaled +24.4%.

In value terms, India ($X) also remains the key foreign market for maize oil exports from Bangladesh.

From 2014 to 2022, the average annual growth rate of value to India stood at +33.8%.

Export Prices by Country

The average maize oil export price stood at $X per ton in 2022, falling by -10.6% against the previous year. Overall, the export price recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 an increase of 37%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2014 to 2022, the rate of growth in terms of prices for India amounted to +7.6% per year.

Maize Oil Imports

Imports into Bangladesh

In 2022, approx. X tons of maize oil were imported into Bangladesh; which is down by -25.2% compared with the previous year. Overall, imports recorded a dramatic decrease. The growth pace was the most rapid in 2021 with an increase of 101% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, maize oil imports dropped remarkably to $X in 2022. Over the period under review, imports continue to indicate a dramatic shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by 151%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Cyprus (X tons) constituted the largest maize oil supplier to Bangladesh, accounting for a 42% share of total imports. Moreover, maize oil imports from Cyprus exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. India (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Cyprus amounted to -17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-26.3% per year) and India (+7.8% per year).

In value terms, Cyprus ($X), the Netherlands ($X) and Belgium ($X) were the largest maize oil suppliers to Bangladesh, with a combined 67% share of total imports. India, China, the United States, Italy and Spain lagged somewhat behind, together comprising a further 28%.

Among the main suppliers, China, with a CAGR of +36.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average maize oil import price stood at $X per ton in 2022, shrinking by -6.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2021 when the average import price increased by 25%. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+16.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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