Israel: Maize Oil Market 2024

Maize Oil Market Size in Israel

In 2022, after two years of growth, there was significant decline in the Israeli maize oil market, when its value decreased by -33.6% to $X. Overall, consumption recorded a abrupt curtailment. Maize oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Maize Oil Production in Israel

In value terms, maize oil production fell modestly to $X in 2022 estimated in export price. In general, production showed a perceptible curtailment. The most prominent rate of growth was recorded in 2017 when the production volume increased by 29% against the previous year. Maize oil production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Maize Oil Exports

Exports from Israel

In 2022, overseas shipments of maize oil increased by 39% to X tons, rising for the fourth consecutive year after two years of decline. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 5,325% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, maize oil exports dropped to $X in 2022. Over the period under review, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2019 when exports increased by 5,789%. The exports peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Iceland (X tons) was the main destination for maize oil exports from Israel, accounting for a 48% share of total exports. Moreover, maize oil exports to Iceland exceeded the volume sent to the second major destination, Austria (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iceland totaled +6,589,276.0%.

In value terms, Iceland ($X) emerged as the key foreign market for maize oil exports from Israel, comprising 58% of total exports. The second position in the ranking was taken by Austria ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Iceland amounted to +9,400,594.7%.

Export Prices by Country

In 2022, the average maize oil export price amounted to $X per ton, reducing by -31.6% against the previous year. In general, the export price saw a deep contraction. The most prominent rate of growth was recorded in 2019 when the average export price increased by 8.6%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Iceland stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iceland (+42.6%), while the prices for the other major destinations experienced a decline.

Maize Oil Imports

Imports into Israel

In 2022, the amount of maize oil imported into Israel declined significantly to X tons, waning by -22.4% against the previous year's figure. In general, imports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 21% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, maize oil imports declined to $X in 2022. Over the period under review, imports showed a pronounced decrease. The pace of growth appeared the most rapid in 2020 with an increase of 28% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest maize oil supplier to Israel, with a 70% share of total imports. Moreover, maize oil imports from Turkey exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 3% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-5.9% per year) and the United States (-7.4% per year).

In value terms, Turkey ($X) constituted the largest supplier of maize oil to Israel, comprising 71% of total imports. The second position in the ranking was held by France ($X), with a 25% share of total imports. It was followed by Ukraine, with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey totaled +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-3.4% per year) and Ukraine (-12.6% per year).

Import Prices by Country

The average maize oil import price stood at $X per ton in 2022, surging by 20% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.7% 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 +77.9% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by 26% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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 Belgium ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :