Middle East: Maize Oil Market 2025

Maize Oil Market Size in the Middle East

The Middle Eastern maize oil market fell notably to $X in 2022, waning by -21.8% against the previous year. In general, consumption saw a pronounced shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Maize Oil Production in the Middle East

In value terms, maize oil production rose to $X in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.5% against 2020 indices. The growth pace was the most rapid in 2015 when the production volume increased by 8.5%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Maize Oil Exports

Exports in the Middle East

In 2022, exports of maize oil in the Middle East fell to X tons, with a decrease of -12.7% compared with the year before. Total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 52% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, maize oil exports dropped to $X in 2022. Total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.5% 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 +27.6% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of 49%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Turkey (X tons) was the largest exporter of maize oil, generating 62% of total exports. Saudi Arabia (X tons) took the second position in the ranking, distantly followed by Oman (X tons). All these countries together held approx. 26% share of total exports. The United Arab Emirates (X tons), Israel (X tons) and Kuwait (X tons) held a little share of total exports.

Exports from Turkey increased at an average annual rate of +9.8% from 2012 to 2022. At the same time, Israel (+66.6%), Kuwait (+19.3%) and the United Arab Emirates (+3.3%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +66.6% from 2012-2022. By contrast, Saudi Arabia (-4.0%) and Oman (-8.7%) illustrated a downward trend over the same period. While the share of Turkey (+29 p.p.), Israel (+3.3 p.p.) and Kuwait (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Oman (-12.6 p.p.) and Saudi Arabia (-21.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest maize oil supplier in the Middle East, comprising 62% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 24% share of total exports. It was followed by Oman, with a 5.1% share.

In Turkey, maize oil exports expanded at an average annual rate of +10.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (-4.5% per year) and Oman (-8.5% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, rising by 8.6% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 18%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.1%), while the other leaders experienced more modest paces of growth.

Maize Oil Imports

Imports in the Middle East

In 2022, the amount of maize oil imported in the Middle East shrank to X tons, dropping by -7.2% compared with 2021. Over the period under review, imports saw a slight setback. The most prominent rate of growth was recorded in 2021 when imports increased by 10%. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, maize oil imports shrank markedly to $X in 2022. In general, imports showed a pronounced setback. The growth pace was the most rapid in 2021 when imports increased by 55% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Kuwait (X tons) and Saudi Arabia (X tons) were the largest importers of maize oil in 2022, amounting to near 31% and 25% of total imports, respectively. The United Arab Emirates (X tons) ranks next in terms of the total imports with an 11% share, followed by Turkey (11%) and Qatar (6.9%). Oman (X tons) and Jordan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Qatar (with a CAGR of +14.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest maize oil importing markets in the Middle East were Kuwait ($X), Saudi Arabia ($X) and the United Arab Emirates ($X), with a combined 64% share of total imports. Qatar, Turkey, Jordan and Oman lagged somewhat behind, together comprising a further 25%.

Qatar, with a CAGR of +11.5%, 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 the Middle East stood at $X per ton in 2022, falling by -9.2% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 41%. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

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 Jordan ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+1.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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