Report Update Jan 1, 2025

Iran - Refined Maize (Corn) Oil - Market Analysis, Forecast, Size, Trends and Insights

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Iran: Refined Maize Oil Market 2025

Refined Maize Oil Market Size in Iran

In 2021, the Iranian refined maize oil market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, showed a mild curtailment. Refined maize oil consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Refined Maize Oil Production in Iran

In value terms, refined maize oil production reached $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 21%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Refined Maize Oil Exports

Exports from Iran

In 2021, overseas shipments of refined maize (corn) oil decreased by -51.8% to X tons, falling for the fifth consecutive year after five years of growth. In general, exports saw a deep downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 227%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, refined maize oil exports shrank notably to $X in 2021. Over the period under review, exports saw a abrupt downturn. The pace of growth was the most pronounced in 2015 when exports increased by 235% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Azerbaijan (X tons) was the main destination for refined maize oil exports from Iran, with a 98% share of total exports. It was followed by Kuwait (X kg), with a 1.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Azerbaijan amounted to -13.9%.

In value terms, Azerbaijan ($X) remains the key foreign market for refined maize (corn) oil exports from Iran, comprising 98% of total exports. The second position in the ranking was held by Kuwait ($X), with a 1.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Azerbaijan amounted to -9.9%.

Export Prices by Country

The average refined maize oil export price stood at $X per ton in 2021, stabilizing at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2016 when the average export price increased by 24% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Azerbaijan amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Azerbaijan (+4.6%), while the prices for the other major destinations experienced mixed trend patterns.

Refined Maize Oil Imports

Imports into Iran

In 2021, purchases abroad of refined maize (corn) oil decreased by -65.3% to X tons, falling for the fourth year in a row after two years of growth. Overall, imports continue to indicate a sharp slump. The most prominent rate of growth was recorded in 2017 when imports increased by 178% against the previous year. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, refined maize oil imports declined remarkably to $X in 2021. In general, imports showed a dramatic decrease. The pace of growth was the most pronounced in 2017 with an increase of 191% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Kuwait (X tons), Belgium (X tons) and Oman (X tons) were the main suppliers of refined maize oil imports to Iran, together comprising 77% of total imports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +10.9%), while purchases for the other leaders experienced a decline.

In value terms, the largest refined maize oil suppliers to Iran were Kuwait ($X), Oman ($X) and Belgium ($X), together accounting for 83% of total imports.

Among the main suppliers, Oman, with a CAGR of +8.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average refined maize oil import price stood at $X per ton in 2021, increasing by 9.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The growth pace was the most rapid in 2014 when the average import price increased by 13%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Oman ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+24.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined maize (corn) oil in the world?

China remains the largest refined maize oil consuming country worldwide, accounting for 18% of total volume. Moreover, refined maize oil consumption in China exceeded the figures recorded by the second-largest consumer, India, twofold. The United States ranked third in terms of total consumption with a 4% share.

What are the largest producers of refined maize (corn) oil in the world?

The country with the largest volume of refined maize oil production was China, comprising approx. 19% of total volume. Moreover, refined maize oil production in China exceeded the figures recorded by the second-largest producer, India, twofold. The United States ranked third in terms of total production with a 4.9% share.

What are the leading suppliers of refined maize (corn) oil to Iran?

In value terms, the largest refined maize oil suppliers to Iran were the United Arab Emirates, China and Kuwait, with a combined 89% share of total imports.

What are the leading importers of refined maize (corn) oil from Iran?

In value terms, Azerbaijan remains the key foreign market for refined maize oil exports from Iran, comprising 76% of total exports. The second position in the ranking was occupied by Kuwait, with a 24% share of total exports.

What is the average export price for refined maize (corn) oil in Iran?

The average refined maize oil export price stood at $1,887 per ton in 2021, remaining relatively unchanged against the previous year.

What is the average import price for refined maize (corn) oil in Iran?

In 2021, the average refined maize oil import price amounted to $1,653 per ton, which is down by -2.3% against the previous year.

This report provides an in-depth analysis of the refined maize oil market in Iran. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10621460 - Refined maize (corn) oil and its fractions (excluding chemically modified)

Country coverage:

Iran

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Iran
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024