Report Update Nov 1, 2024

Myanmar - Refined Maize (Corn) Oil - Market Analysis, Forecast, Size, Trends and Insights

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Myanmar: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in Myanmar

The Myanmar's refined maize oil market was estimated at $X in 2021, remaining relatively unchanged against the previous year. Overall, consumption, however, continues to indicate a deep setback. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Refined Maize Oil Production in Myanmar

In value terms, refined maize oil production amounted to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a deep reduction. The growth pace was the most rapid in 2014 with an increase of 21% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Refined Maize Oil Exports

Exports from Myanmar

Refined maize oil exports from Myanmar soared to X tons in 2021, growing by 36% compared with 2020 figures. Over the period under review, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, refined maize oil exports soared to $X in 2021. Overall, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for refined maize oil exports from Myanmar, accounting for a approx. 100% share of total exports.

From 2018 to 2021, the average annual rate of growth in terms of volume to China totaled +56.5%.

In value terms, China ($X) also remains the key foreign market for refined maize (corn) oil exports from Myanmar.

From 2018 to 2021, the average annual rate of growth in terms of value to China stood at +57.4%.

Export Prices by Country

In 2021, the average refined maize oil export price amounted to $X per ton, which is down by -8.2% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2020, and then shrank in the following year.

As there is only one major export destination, the average price level is determined by prices for China.

From 2018 to 2021, the rate of growth in terms of prices for China amounted to +0.6% per year.

Refined Maize Oil Imports

Imports into Myanmar

In 2021, after two years of growth, there was significant decline in overseas purchases of refined maize (corn) oil, when their volume decreased by -45.4% to X tons. In general, imports recorded a drastic downturn. The pace of growth appeared the most rapid in 2017 with an increase of 1,725%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, refined maize oil imports contracted notably to $X in 2021. Overall, imports saw a precipitous contraction. The growth pace was the most rapid in 2017 when imports increased by 2,204%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X tons), Singapore (X tons) and Malaysia (X tons) were the main suppliers of refined maize oil imports to Myanmar, together comprising 98% of total imports. Thailand and South Korea lagged somewhat behind, together accounting for a further 2.2%.

From 2013 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +7.6%), while imports for the other leaders experienced a decline.

In value terms, the largest refined maize oil suppliers to Myanmar were Singapore ($X), Turkey ($X) and Malaysia ($X), with a combined 96% share of total imports. Thailand and South Korea lagged somewhat behind, together comprising a further 4.5%.

Thailand, with a CAGR of -3.6%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average refined maize oil import price amounted to $X per ton, leveling off at the previous year. In general, the import price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2018 an increase of 35% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined maize (corn) oil in the world?

China remains the largest refined maize oil consuming country worldwide, accounting for 18% of total volume. Moreover, refined maize oil consumption in China exceeded the figures recorded by the second-largest consumer, India, twofold. The third position in this ranking was occupied by the United States, with a 4% share.

What are the largest producers of refined maize (corn) oil in the world?

China constituted the country with the largest volume of refined maize oil production, accounting for 19% of total volume. Moreover, refined maize oil production in China exceeded the figures recorded by the second-largest producer, India, twofold. The United States ranked third in terms of total production with a 4.9% share.

What are the leading suppliers of refined maize (corn) oil to Myanmar?

In value terms, Singapore constituted the largest supplier of refined maize oil to Myanmar, comprising 74% of total imports. The second position in the ranking was occupied by Malaysia, with a 16% share of total imports.

What is the average export price for refined maize (corn) oil in Myanmar?

The average refined maize oil export price stood at $776 per ton in 2020, flattening at the previous year.

What is the average import price for refined maize (corn) oil in Myanmar?

In 2021, the average refined maize oil import price amounted to $1,025 per ton, rising by 4.5% against the previous year.

This report provides an in-depth analysis of the refined maize oil market in Myanmar. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10621460 - Refined maize (corn) oil and its fractions (excluding chemically modified)

Country coverage:

Myanmar

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Myanmar
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023