Italy: Maize Oil Market 2024

Maize Oil Market Size in Italy

The Italian maize oil market rose notably to $X in 2022, surging by 6.6% against the previous year. Over the period under review, consumption continues to indicate a noticeable descent. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Maize Oil Production in Italy

In value terms, maize oil production skyrocketed to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 41%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Maize Oil Exports

Exports from Italy

Maize oil exports from Italy expanded markedly to X tons in 2022, picking up by 10% against the year before. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +20.7% against 2020 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 76% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, maize oil exports soared to $X in 2022. In general, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +88.3% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 78%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Greece (X tons) was the main destination for maize oil exports from Italy, accounting for a 40% share of total exports. Moreover, maize oil exports to Greece exceeded the volume sent to the second major destination, Israel (X tons), threefold. Austria (X tons) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume to Greece was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+28.9% per year) and Austria (+60.2% per year).

In value terms, Greece ($X) remains the key foreign market for maize oil exports from Italy, comprising 35% of total exports. The second position in the ranking was held by Israel ($X), with a 14% share of total exports. It was followed by Jamaica, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value to Greece was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+33.2% per year) and Jamaica (+58.9% per year).

Export Prices by Country

The average maize oil export price stood at $X per ton in 2022, rising by 21% against the previous year. Overall, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize oil export price increased by +105.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 31% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Libya ($X per ton), while the average price for exports to Austria ($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 Jamaica (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Oil Imports

Imports into Italy

In 2022, the amount of maize oil imported into Italy dropped notably to X tons, declining by -69.2% on the previous year. In general, imports continue to indicate a sharp slump. The pace of growth was the most pronounced in 2018 with an increase of 49% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, maize oil imports fell remarkably to $X in 2022. Over the period under review, imports showed a dramatic decline. The pace of growth appeared the most rapid in 2018 with an increase of 34%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Romania (X tons), Poland (X tons) and Croatia (X tons) were the main suppliers of maize oil imports to Italy, with a combined 65% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Croatia (with a CAGR of +77.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Poland ($X) and Austria ($X) were the largest maize oil suppliers to Italy, with a combined 63% share of total imports. Croatia, Germany, Bulgaria, Hungary, Libya, France and Belgium lagged somewhat behind, together comprising a further 34%.

Among the main suppliers, Croatia, with a CAGR of +113.3%, recorded the highest rates of growth with regard to the value of imports, 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, picking up by 16% against the previous year. In general, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.7% 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 +86.7% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 29%. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue 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 Germany ($X per ton), while the price for Libya ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+30.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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