EU: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in the EU

The EU refined maize oil market fell to $X in 2021, declining by -7.3% against the previous year. Over the period under review, consumption saw a abrupt slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Refined Maize Oil Production in the EU

In value terms, refined maize oil production contracted modestly to $X in 2021 estimated in export price. In general, production saw a abrupt descent. The pace of growth was the most pronounced in 2020 when the production volume increased by 11%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Refined Maize Oil Exports

Exports in the EU

In 2021, shipments abroad of refined maize (corn) oil was finally on the rise to reach X tons after three years of decline. Overall, exports, however, saw a abrupt shrinkage. The growth pace was the most rapid in 2016 when exports increased by 61%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, refined maize oil exports soared to $X in 2021. In general, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 57%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Belgium (X tons), distantly followed by Austria (X tons), Italy (X tons), Spain (X tons) and France (X tons) were the major exporters of refined maize (corn) oil, together constituting 93% of total exports. The following exporters - Poland (X tons) and Sweden (X tons) - together made up 5.1% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Poland (with a CAGR of +43.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest refined maize oil supplying countries in the European Union were Belgium ($X), Austria ($X) and Italy ($X), with a combined 66% share of total exports. These countries were followed by Spain, France, Sweden and Poland, which together accounted for a further 31%.

Poland, with a CAGR of +24.5%, saw the highest rates of growth with regard to the value of exports, in terms of 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 2021, the export price in the European Union amounted to $X per ton, with an increase of 25% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+0.6%), while the other leaders experienced a decline in the export price figures.

Refined Maize Oil Imports

Imports in the EU

Refined maize oil imports dropped dramatically to X tons in 2021, which is down by -34.8% compared with 2020 figures. In general, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 159% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, refined maize oil imports fell to $X in 2021. Overall, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 137% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons), distantly followed by Greece (X tons), Austria (X tons), Belgium (X tons), France (X tons), Spain (X tons) and the Netherlands (X tons) were the key importers of refined maize (corn) oil, together achieving 89% of total imports.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +12.8%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Germany ($X) constitutes the largest market for imported refined maize (corn) oil in the European Union, comprising 32% of total imports. The second position in the ranking was held by Greece ($X), with a 16% share of total imports. It was followed by Austria, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value in Germany amounted to -1.9%. The remaining importing countries recorded the following average annual rates of imports growth: Greece (-10.2% per year) and Austria (-7.5% per year).

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, jumping by 43% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+1.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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