MERCOSUR: Crude Maize Oil Market 2025

Crude Maize Oil Market Size in MERCOSUR

The MERCOSUR crude maize oil market expanded to $X in 2022, with an increase of 2.8% against the previous year. Over the period under review, consumption showed a slight curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Crude Maize Oil Production in MERCOSUR

In value terms, crude maize oil production rose significantly to $X in 2022 estimated in export price. In general, production saw a slight reduction. The pace of growth was the most pronounced in 2020 with an increase of 26% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Crude Maize Oil Exports

Exports in MERCOSUR

For the third consecutive year, MERCOSUR recorded decline in overseas shipments of crude maize (corn) oil, which decreased by -1.2% to X tons in 2022. Overall, exports, however, posted a moderate expansion. The pace of growth was the most pronounced in 2015 with an increase of 142% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, crude maize oil exports rose remarkably to $X in 2022. Over the period under review, exports, however, enjoyed a moderate increase. The pace of growth appeared the most rapid in 2015 with an increase of 131% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Brazil (X tons) represented the key exporter of crude maize (corn) oil, mixing up 73% of total exports. Argentina (X tons) ranks second in terms of the total exports with a 22% share, followed by Paraguay (5.3%).

From 2012 to 2022, average annual rates of growth with regard to crude maize oil exports from Brazil stood at +1.9%. At the same time, Paraguay (+28.2%) and Argentina (+2.0%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +28.2% from 2012-2022. While the share of Paraguay (+4.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Brazil (-4.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest crude maize oil supplier in MERCOSUR, comprising 80% of total exports. The second position in the ranking was held by Argentina ($X), with a 15% share of total exports.

In Brazil, crude maize oil exports increased at an average annual rate of +3.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Argentina (-1.4% per year) and Paraguay (+33.0% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, rising by 12% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 59% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (+3.7%), while the other leaders experienced mixed trends in the export price figures.

Crude Maize Oil Imports

Imports in MERCOSUR

In 2022, after two years of decline, there was significant growth in overseas purchases of crude maize (corn) oil, when their volume increased by 7.6% to X tons. Overall, imports, however, faced a deep reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 202%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, crude maize oil imports surged to $X in 2022. In general, imports, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2019 when imports increased by 95% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X tons) and Uruguay (X tons) represented the key importers of crude maize (corn) oil in 2022, amounting to near 46% and 38% of total imports, respectively. It was distantly followed by Chile (X tons), creating a 14% share of total imports. Venezuela (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +35.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest crude maize oil importing markets in MERCOSUR were Uruguay ($X), Brazil ($X) and Chile ($X), with a combined 88% share of total imports.

Brazil, with a CAGR of +39.7%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, rising by 12% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 127% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Venezuela ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (+23.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform