France: Crude Maize Oil Market 2024

Crude Maize Oil Market Size in France

In 2022, the French crude maize oil market decreased by -4.8% to $X, falling for the fifth year in a row after two years of growth. Over the period under review, consumption continues to indicate a noticeable contraction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Crude Maize Oil Production in France

In value terms, crude maize oil production amounted to $X in 2022 estimated in export price. Over the period under review, production saw a deep reduction. The most prominent rate of growth was recorded in 2016 with an increase of 24% against the previous year. Crude maize oil production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Crude Maize Oil Exports

Exports from France

For the third consecutive year, France recorded growth in shipments abroad of crude maize (corn) oil, which increased by 45% to X tons in 2022. Over the period under review, total exports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +200.2% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 97%. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, crude maize oil exports surged to $X in 2022. In general, exports showed a moderate increase. The growth pace was the most rapid in 2020 when exports increased by 136%. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Belgium (X tons) was the main destination for crude maize oil exports from France, accounting for a 61% share of total exports. Moreover, crude maize oil exports to Belgium exceeded the volume sent to the second major destination, Spain (X tons), threefold. Tunisia (X tons) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium amounted to +35.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+8.8% per year) and Tunisia (-19.1% per year).

In value terms, Belgium ($X) remains the key foreign market for crude maize (corn) oil exports from France, comprising 63% of total exports. The second position in the ranking was taken by Spain ($X), with an 18% share of total exports. It was followed by Tunisia, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Belgium totaled +38.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+8.2% per year) and Tunisia (-13.8% per year).

Export Prices by Country

The average crude maize oil export price stood at $X per ton in 2022, surging by 13% against the previous year. Overall, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude maize oil export price increased by +121.6% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 65% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Austria ($X per ton) and Slovakia ($X per ton), while the average price for exports to Sweden ($X per ton) and Tunisia ($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 Tunisia (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Maize Oil Imports

Imports into France

In 2022, supplies from abroad of crude maize (corn) oil decreased by -14.7% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, posted noticeable growth. The pace of growth was the most pronounced in 2018 when imports increased by 185% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, crude maize oil imports declined remarkably to $X in 2022. In general, imports, however, recorded a moderate expansion. The most prominent rate of growth was recorded in 2020 with an increase of 183% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of crude maize oil to France, with a 69% share of total imports. Moreover, crude maize oil imports from Spain exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain amounted to +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-6.9% per year) and Germany (+8.1% per year).

In value terms, Spain ($X) constituted the largest supplier of crude maize (corn) oil to France, comprising 59% of total imports. The second position in the ranking was taken by Belgium ($X), with a 27% share of total imports. It was followed by Germany, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain totaled +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-4.9% per year) and Germany (+11.5% per year).

Import Prices by Country

The average crude maize oil import price stood at $X per ton in 2022, waning by -16.3% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 139% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

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 Germany ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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