Kenya: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in Kenya

In 2021, the Kenyan refined maize oil market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption recorded a prominent expansion. Refined maize oil consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Refined Maize Oil Production in Kenya

In value terms, refined maize oil production soared to $X in 2021 estimated in export price. Overall, production posted a resilient expansion. The pace of growth was the most pronounced in 2013 when the production volume increased by 58%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Refined Maize Oil Exports

Exports from Kenya

In 2021, exports of refined maize (corn) oil from Kenya skyrocketed to X tons, rising by 100% against the previous year's figure. In general, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 122%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, refined maize oil exports soared to $X in 2021. Overall, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 143%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Tanzania (X tons) was the main destination for refined maize oil exports from Kenya, accounting for a 70% share of total exports. Moreover, refined maize oil exports to Tanzania exceeded the volume sent to the second major destination, Uganda (X tons), ninefold. Democratic Republic of the Congo (X tons) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Tanzania stood at -9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (-11.9% per year) and Democratic Republic of the Congo (+34.3% per year).

In value terms, Tanzania ($X) remains the key foreign market for refined maize (corn) oil exports from Kenya, comprising 78% of total exports. The second position in the ranking was held by Uganda ($X), with an 8.6% share of total exports. It was followed by Zambia, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value to Tanzania amounted to -5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (-14.8% per year) and Zambia (-1.4% per year).

Export Prices by Country

In 2021, the average refined maize oil export price amounted to $X per ton, increasing by 4.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2014 when the average export price increased by 9.7%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Sudan (+5.8%), while the prices for the other major destinations experienced mixed trend patterns.

Refined Maize Oil Imports

Imports into Kenya

In 2021, purchases abroad of refined maize (corn) oil increased by 110% to X tons, rising for the second year in a row after three years of decline. In general, imports, however, saw a abrupt descent. The growth pace was the most rapid in 2015 when imports increased by 119%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, refined maize oil imports surged to $X in 2021. Overall, imports, however, saw a abrupt descent. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Tunisia (X tons) was the main refined maize oil supplier to Kenya, accounting for a 90% share of total imports. Moreover, refined maize oil imports from Tunisia exceeded the figures recorded by the second-largest supplier, Egypt (X tons), tenfold.

From 2012 to 2021, the average annual growth rate of volume from Tunisia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (-10.5% per year) and Turkey (-37.8% per year).

In value terms, Tunisia ($X) constituted the largest supplier of refined maize (corn) oil to Kenya, comprising 89% of total imports. The second position in the ranking was taken by Egypt ($X), with a 9.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Tunisia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (-11.5% per year) and Turkey (-29.0% per year).

Import Prices by Country

The average refined maize oil import price stood at $X per ton in 2021, picking up by 18% against the previous year. Over the last nine years, it increased at an average annual rate of +3.6%. The growth pace was the most rapid in 2014 an increase of 45%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uganda (+48.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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