Guatemala: Maize Oil Market 2025

Maize Oil Market Size in Guatemala

The Guatemalan maize oil market soared to $X in 2022, increasing by 71% against the previous year. Over the period under review, consumption, however, saw a abrupt curtailment. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Maize Oil Production in Guatemala

In value terms, maize oil production totaled $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by 148,780,600%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Maize Oil Exports

Exports from Guatemala

In 2022, shipments abroad of maize oil increased by 16% to X tons, rising for the third year in a row after two years of decline. In general, exports showed a perceptible expansion. The pace of growth was the most pronounced in 2015 with an increase of 55% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, maize oil exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a mild decline. The pace of growth was the most pronounced in 2021 when exports increased by 67% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Honduras (X tons) and Panama (X tons) were the main destinations of maize oil exports from Guatemala.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of +192.7%).

In value terms, Honduras ($X) and Panama ($X) appeared to be the largest markets for maize oil exported from Guatemala worldwide.

In terms of the main countries of destination, Honduras, with a CAGR of +161.0%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average maize oil export price stood at $X per ton in 2022, increasing by 29% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt descent. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Honduras totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Panama (-4.8%), while the prices for the other major destinations experienced a decline.

Maize Oil Imports

Imports into Guatemala

In 2022, the amount of maize oil imported into Guatemala surged to X tons, jumping by 33% compared with 2021 figures. In general, imports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2014 when imports increased by 1,457% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, maize oil imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2014 with an increase of 764%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Mexico (X tons) constituted the largest supplier of maize oil to Guatemala, accounting for a 66% share of total imports. Moreover, maize oil imports from Mexico exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by Argentina (X tons), with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico amounted to +146.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-20.9% per year) and Argentina (+63.8% per year).

In value terms, Mexico ($X) constituted the largest supplier of maize oil to Guatemala, comprising 64% of total imports. The second position in the ranking was taken by the United States ($X), with a 29% share of total imports. It was followed by Argentina, with a 4% share.

From 2012 to 2022, the average annual growth rate of value from Mexico totaled +106.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-15.7% per year) and Argentina (+47.3% per year).

Import Prices by Country

The average maize oil import price stood at $X per ton in 2022, growing by 35% against the previous year. In general, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +4.8% 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 +32.1% against 2019 indices. The pace of growth was the most pronounced in 2019 when the average import price increased by 97% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Argentina ($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 United States (+6.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform