Middle East: Crude Maize Oil Market 2025

Crude Maize Oil Market Size in the Middle East

The Middle Eastern crude maize oil market reduced to $X in 2022, with a decrease of -9.1% against the previous year. Overall, consumption showed a slight descent. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Crude Maize Oil Production in the Middle East

In value terms, crude maize oil production expanded significantly to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 92%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Crude Maize Oil Exports

Exports in the Middle East

In 2022, shipments abroad of crude maize (corn) oil decreased by -40.7% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 2,330% against the previous year. The volume of export peaked at X tons in 2021, and then reduced sharply in the following year.

In value terms, crude maize oil exports reduced dramatically to $X in 2022. Over the period under review, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2015 when exports increased by 1,902% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped notably in the following year.

Exports by Country

Turkey prevails in exports structure, reaching X tons, which was near 95% of total exports in 2022. The United Arab Emirates (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the crude maize (corn) oil exports, with a CAGR of +91.5% from 2012 to 2022. The United Arab Emirates experienced a relatively flat trend pattern. Turkey (+94 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -27% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest crude maize oil supplier in the Middle East, comprising 97% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 1.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +89.6%.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, increasing by 9% against the previous year. Export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude maize oil export price increased by +85.0% against 2019 indices. The growth pace was the most rapid in 2021 when the export price increased by 34%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (-1.0%).

Crude Maize Oil Imports

Imports in the Middle East

Crude maize oil imports fell to X tons in 2022, which is down by -12.4% compared with the previous year. In general, imports saw a mild slump. The pace of growth was the most pronounced in 2021 when imports increased by 22%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, crude maize oil imports fell notably to $X in 2022. Overall, imports continue to indicate a pronounced curtailment. The growth pace was the most rapid in 2021 when imports increased by 85%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Saudi Arabia (X tons), Kuwait (X tons) and Turkey (X tons) represented roughly 87% of total imports in 2022. The following importers - Qatar (X tons), the United Arab Emirates (X tons), Oman (X tons) and Iran (X tons) - together made up 11% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Qatar (with a CAGR of +39.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest crude maize oil importing markets in the Middle East were Kuwait ($X), Saudi Arabia ($X) and Turkey ($X), with a combined 86% share of total imports. Qatar, the United Arab Emirates, Iran and Oman lagged somewhat behind, together accounting for a further 12%.

In terms of the main importing countries, Qatar, with a CAGR of +40.0%, saw 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

In 2022, the import price in the Middle East amounted to $X per ton, reducing by -12.5% against the previous year. In general, the import price continues to indicate a mild curtailment. The pace of growth was the most pronounced in 2021 an increase of 52%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+1.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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