Netherlands: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in the Netherlands

In 2021, the Dutch refined maize oil market decreased by -19.3% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption continues to indicate a deep downturn. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Refined Maize Oil Production in the Netherlands

In value terms, refined maize oil production soared to $X in 2021 estimated in export price. In general, production, however, showed a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 232% against the previous year. Refined maize oil production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Refined Maize Oil Exports

Exports from the Netherlands

In 2021, after three years of growth, there was significant decline in shipments abroad of refined maize (corn) oil, when their volume decreased by -42.8% to X tons. Over the period under review, exports faced a deep contraction. The most prominent rate of growth was recorded in 2013 with an increase of 45% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, refined maize oil exports declined notably to $X in 2021. In general, exports recorded a deep setback. The pace of growth appeared the most rapid in 2013 when exports increased by 30%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Belgium (X tons), Eritrea (X tons) and Denmark (X tons) were the main destinations of refined maize oil exports from the Netherlands, together comprising 70% of total exports.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +50.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Belgium ($X) emerged as the key foreign market for refined maize (corn) oil exports from the Netherlands, comprising 37% of total exports. The second position in the ranking was held by Eritrea ($X), with a 17% share of total exports. It was followed by Denmark, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Belgium totaled -1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Eritrea (-11.0% per year) and Denmark (+18.0% per year).

Export Prices by Country

In 2021, the average refined maize oil export price amounted to $X per ton, increasing by 20% against the previous year. Overall, the export price, however, recorded a noticeable shrinkage. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Somalia ($X per ton), while the average price for exports to Eritrea ($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 Switzerland (+19.0%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Maize Oil Imports

Imports into the Netherlands

In 2021, imports of refined maize (corn) oil into the Netherlands dropped notably to X tons, waning by -88.9% on the year before. In general, imports continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2020 with an increase of 1,004% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, refined maize oil imports shrank notably to $X in 2021. Overall, imports showed a perceptible slump. The most prominent rate of growth was recorded in 2020 when imports increased by 594% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of refined maize oil to the Netherlands, accounting for a 75% share of total imports. Moreover, refined maize oil imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), sevenfold. Sweden (X tons) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium stood at -6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+20.3% per year) and Sweden (+21.7% per year).

In value terms, Belgium ($X) constituted the largest supplier of refined maize (corn) oil to the Netherlands, comprising 65% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by Sweden, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Belgium stood at -6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+23.2% per year) and Sweden (+27.2% per year).

Import Prices by Country

In 2021, the average refined maize oil import price amounted to $X per ton, growing by 115% against the previous year. Over the period under review, the import price saw a mild increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+4.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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