Germany: Crude Maize Oil Market 2024

Crude Maize Oil Market Size in Germany

After three years of growth, the German crude maize oil market decreased by -1.4% to $X in 2022. In general, consumption, however, showed a resilient increase. As a result, consumption reached the peak level of $X, and then reduced slightly in the following year.

Crude Maize Oil Production in Germany

In value terms, crude maize oil production stood at $X in 2022 estimated in export price. In general, production showed a noticeable downturn. The pace of growth was the most pronounced in 2020 when the production volume increased by 9.6%. Crude maize oil production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Crude Maize Oil Exports

Exports from Germany

Crude maize oil exports from Germany soared to X tons in 2022, surging by 134% against 2021. Over the period under review, exports, however, saw a dramatic decline. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude maize oil exports skyrocketed to $X in 2022. Overall, exports, however, faced a precipitous shrinkage. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons) was the main destination for crude maize oil exports from Germany, with a 66% share of total exports. Moreover, crude maize oil exports to Italy exceeded the volume sent to the second major destination, Belgium (X tons), threefold. Austria (X tons) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume to Italy stood at -20.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-33.5% per year) and Austria (+42.1% per year).

In value terms, Italy ($X), Belgium ($X) and Austria ($X) constituted the largest markets for crude maize oil exported from Germany worldwide, together accounting for 97% of total exports.

Austria, with a CAGR of +34.6%, saw 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 mixed trend patterns.

Export Prices by Country

The average crude maize oil export price stood at $X per ton in 2022, picking up by 20% against the previous year. Over the period under review, the export price posted measured growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 64% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Italy ($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 Belgium (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Maize Oil Imports

Imports into Germany

In 2022, supplies from abroad of crude maize (corn) oil decreased by -6.5% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 252% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, crude maize oil imports soared to $X in 2022. Over the period under review, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2020 when imports increased by 150%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Austria (X tons) constituted the largest supplier of crude maize oil to Germany, with a 55% share of total imports. Moreover, crude maize oil imports from Austria exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. The Netherlands (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from Austria amounted to +96.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+1.5% per year) and the Netherlands (+36.0% per year).

In value terms, Austria ($X) constituted the largest supplier of crude maize (corn) oil to Germany, comprising 50% of total imports. The second position in the ranking was taken by Poland ($X), with an 18% share of total imports. It was followed by the Netherlands, with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Austria totaled +90.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+5.7% per year) and the Netherlands (+31.3% per year).

Import Prices by Country

The average crude maize oil import price stood at $X per ton in 2022, picking up by 39% against the previous year. Overall, the import price, however, saw a pronounced downturn. Over the period under review, average import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, 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 France ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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