Czech Republic: Maize Oil Market 2024

Maize Oil Market Size in the Czech Republic

The Czech maize oil market surged to $X in 2022, growing by 35% against the previous year. Overall, consumption, however, recorded a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Maize Oil Production in the Czech Republic

In value terms, maize oil production surged to $X in 2022 estimated in export price. Overall, production enjoyed a significant expansion. The pace of growth appeared the most rapid in 2020 when the production volume increased by 277% 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 the Czech Republic

For the fourth year in a row, the Czech Republic recorded growth in shipments abroad of maize oil, which increased by 62% to X tons in 2022. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 122,655% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, maize oil exports surged to $X in 2022. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 23,125% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Slovakia (X tons) was the main destination for maize oil exports from the Czech Republic, with a 90% share of total exports. Moreover, maize oil exports to Slovakia exceeded the volume sent to the second major destination, Germany (X tons), tenfold.

From 2012 to 2022, the average annual growth rate of volume to Slovakia amounted to +147.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+2,120.5% per year) and Poland (-30.3% per year).

In value terms, Slovakia ($X) remains the key foreign market for maize oil exports from the Czech Republic, comprising 97% of total exports. The second position in the ranking was taken by Germany ($X), with a 2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Slovakia totaled +137.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+342.4% per year) and Poland (-16.5% per year).

Export Prices by Country

In 2022, the average maize oil export price amounted to $X per ton, with an increase of 21% against the previous year. Over the period under review, the export price, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2018 an increase of 264%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+19.8%), while the prices for the other major destinations experienced a decline.

Maize Oil Imports

Imports into the Czech Republic

In 2022, approx. X tons of maize oil were imported into the Czech Republic; surging by 6.8% compared with 2021 figures. In general, imports posted a strong expansion. The growth pace was the most rapid in 2021 when imports increased by 186%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, maize oil imports dropped markedly to $X in 2022. Overall, imports continue to indicate a prominent expansion. The growth pace was the most rapid in 2021 with an increase of 176%. As a result, imports attained the peak of $X, and then dropped notably in the following year.

Imports by Country

In 2022, Hungary (X tons) constituted the largest supplier of maize oil to the Czech Republic, with a 79% share of total imports. Moreover, maize oil imports from Hungary exceeded the figures recorded by the second-largest supplier, France (X tons), fivefold. Italy (X tons) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2022, the average annual growth rate of volume from Hungary totaled +47.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+76.5% per year) and Italy (-6.7% per year).

In value terms, Hungary ($X), France ($X) and Italy ($X) appeared to be the largest maize oil suppliers to the Czech Republic, together comprising 98% of total imports.

Hungary, with a CAGR of +112.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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, declining by -30.2% against the previous year. In general, the import price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2016 an increase of 29%. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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 the United States ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+65.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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