EU: Maize Oil Market 2024

Maize Oil Market Size in the EU

In 2022, the EU maize oil market increased by 3.9% to $X, rising for the third year in a row after two years of decline. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Maize Oil Production in the EU

In value terms, maize oil production expanded markedly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild slump. The most prominent rate of growth was recorded in 2016 when the production volume increased by 351% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Maize Oil Exports

Exports in the EU

In 2022, overseas shipments of maize oil increased by 5.5% to X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2016 when exports increased by 36% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, maize oil exports soared to $X in 2022. Overall, exports, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2016 when exports increased by 44% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Hungary (X tons), Belgium (X tons), Italy (X tons), France (X tons), Austria (X tons) and Spain (X tons), together finishing at 90% of total export. Poland (X tons) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +51.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Hungary ($X) and Italy ($X) were the countries with the highest levels of exports in 2022, with a combined 58% share of total exports. Austria, France, Spain and Poland lagged somewhat behind, together comprising a further 36%.

Poland, with a CAGR of +37.0%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, increasing by 25% against the previous year. Export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.9% 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 +100.6% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 39% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to see gradual 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 Austria ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.2%), while the other leaders experienced more modest paces of growth.

Maize Oil Imports

Imports in the EU

In 2022, the amount of maize oil imported in the European Union declined to X tons, with a decrease of -3.5% compared with the year before. Overall, imports saw a deep reduction. The most prominent rate of growth was recorded in 2020 when imports increased by 50%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, maize oil imports soared to $X in 2022. Over the period under review, imports showed a drastic downturn. The pace of growth was the most pronounced in 2020 with an increase of 55% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Greece (X tons) and Belgium (X tons) represented roughly 57% of total imports in 2022. Spain (X tons) took the next position in the ranking, followed by Austria (X tons), France (X tons), the Netherlands (X tons) and Poland (X tons). All these countries together took near 32% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +10.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest maize oil importing markets in the European Union were Germany ($X), Greece ($X) and Belgium ($X), together comprising 60% of total imports. Spain, France, Austria, the Netherlands and Poland lagged somewhat behind, together accounting for a further 28%.

In terms of the main importing countries, Poland, with a CAGR of +10.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, picking up by 32% against the previous year. Import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.9% 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 +73.8% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of 36%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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 Germany ($X per ton), while Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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