France: Maize Oil Market 2024

Maize Oil Market Size in France

After six years of growth, the French maize oil market decreased by -2% to $X in 2022. In general, consumption recorded a perceptible descent. Maize oil consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Maize Oil Production in France

In value terms, maize oil production declined slightly to $X in 2022 estimated in export price. Overall, production recorded a pronounced curtailment. The pace of growth was the most pronounced in 2016 with an increase of 19%. Maize oil production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Maize Oil Exports

Exports from France

In 2022, overseas shipments of maize oil increased by 12% to X tons, rising for the second consecutive year after five years of decline. Over the period under review, exports, however, saw a mild decline. The growth pace was the most rapid in 2015 when exports increased by 41%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, maize oil exports surged to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 46% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X tons) was the main destination for maize oil exports from France, accounting for a 46% share of total exports. Moreover, maize oil exports to Belgium exceeded the volume sent to the second major destination, Kuwait (X tons), twofold. Spain (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Belgium stood at +16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+119.2% per year) and Spain (+6.7% per year).

In value terms, Belgium ($X) remains the key foreign market for maize oil exports from France, comprising 45% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 19% share of total exports. It was followed by Spain, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Belgium totaled +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+111.0% per year) and Spain (+6.0% per year).

Export Prices by Country

In 2022, the average maize oil export price amounted to $X per ton, rising by 8.9% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 40%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

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 Italy ($X per ton), while the average price for exports to Sweden ($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 Italy (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Oil Imports

Imports into France

In 2022, supplies from abroad of maize oil increased by 23% to X tons, rising for the fourth consecutive year after six years of decline. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 55% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, maize oil imports surged to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 95%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Spain (X tons), Belgium (X tons) and Italy (X tons) were the main suppliers of maize oil imports to France, with a combined 90% share of total imports. The Netherlands, Germany and Sweden lagged somewhat behind, together comprising a further 9.6%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +26.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Spain ($X) and Italy ($X) appeared to be the largest maize oil suppliers to France, together accounting for 84% of total imports. The Netherlands, Germany and Sweden lagged somewhat behind, together accounting for a further 15%.

The Netherlands, with a CAGR of +31.8%, 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 more modest paces of growth.

Import Prices by Country

The average maize oil import price stood at $X per ton in 2022, waning by -4.4% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 76% against the previous year. The import price peaked at $X per ton in 2021, and then shrank slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :