Egypt: Maize Oil Market 2024

Maize Oil Market Size in Egypt

The Egyptian maize oil market declined significantly to $X in 2022, with a decrease of -79.9% against the previous year. Over the period under review, consumption continues to indicate a sharp decrease. Maize oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Maize Oil Production in Egypt

In value terms, maize oil production amounted to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with a decrease of 99.9%. Maize oil production peaked in 2022 and is expected to retain growth in the near future.

Maize Oil Exports

Exports from Egypt

Maize oil exports from Egypt fell significantly to X tons in 2022, which is down by -49.5% on 2021 figures. Overall, exports, however, recorded pronounced growth. The most prominent rate of growth was recorded in 2016 when exports increased by 128%. Over the period under review, the exports reached the maximum at X tons in 2021, and then shrank markedly in the following year.

In value terms, maize oil exports dropped dramatically to $X in 2022. In general, exports, however, continue to indicate moderate growth. The most prominent rate of growth was recorded in 2016 with an increase of 95% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then reduced remarkably in the following year.

Exports by Country

Libya (X tons), Jordan (X tons) and Kenya (X tons) were the main destinations of maize oil exports from Egypt, with a combined 77% share of total exports. Saudi Arabia, Oman, the United Arab Emirates, Palestine and Syrian Arab Republic lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +186.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Libya ($X), Jordan ($X) and Kenya ($X) constituted the largest markets for maize oil exported from Egypt worldwide, together accounting for 76% of total exports. Saudi Arabia, Oman, the United Arab Emirates, Palestine and Syrian Arab Republic lagged somewhat behind, together accounting for a further 22%.

Oman, with a CAGR of +252.2%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average maize oil export price amounted to $X per ton, growing by 23% against the previous year. Over the period under review, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize oil export price increased by +110.0% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 35%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Oman ($X per ton) and Saudi Arabia ($X per ton), while the average price for exports to Kenya ($X per ton) and Jordan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+23.0%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Oil Imports

Imports into Egypt

In 2022, the amount of maize oil imported into Egypt reduced sharply to X tons, waning by -70.9% on 2021. Overall, imports saw a deep contraction. The growth pace was the most rapid in 2016 when imports increased by 37% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, maize oil imports reduced markedly to $X in 2022. In general, imports saw a abrupt slump. The pace of growth appeared the most rapid in 2021 when imports increased by 46%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of maize oil to Egypt, with a 66% share of total imports. Moreover, maize oil imports from the United States exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fourfold. The third position in this ranking was taken by Turkey (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to -18.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+335.0% per year) and Turkey (+13.3% per year).

In value terms, the United States ($X) constituted the largest supplier of maize oil to Egypt, comprising 55% of total imports. The second position in the ranking was taken by Brazil ($X), with a 16% share of total imports. It was followed by Turkey, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled -17.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+191.5% per year) and Turkey (+14.1% per year).

Import Prices by Country

The average maize oil import price stood at $X per ton in 2022, surging by 37% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize oil import price increased by +143.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 39% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Saudi Arabia ($X per ton) and Turkey ($X per ton), while the price for Brazil ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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