Report Update Nov 1, 2024

Norway - Maize Oil - Market Analysis, Forecast, Size, Trends and Insights

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Norway: Maize Oil Market 2024

Maize Oil Market Size in Norway

The Norwegian maize oil market surged to $X in 2022, jumping by 112% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a abrupt decline. Maize oil consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Maize Oil Exports

Exports from Norway

Maize oil exports from Norway contracted significantly to X kg in 2022, reducing by -98.4% compared with 2021 figures. Overall, exports showed a sharp contraction. The growth pace was the most rapid in 2014 with an increase of 456% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, maize oil exports contracted dramatically to $X in 2022. In general, exports faced a dramatic descent. The pace of growth was the most pronounced in 2014 when exports increased by 643%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Eritrea (X kg) was the main destination for maize oil exports from Norway, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Eritrea was relatively modest.

In value terms, Eritrea ($X) emerged as the key foreign market for maize oil exports from Norway.

From 2012 to 2022, the average annual rate of growth in terms of value to Eritrea was relatively modest.

Export Prices by Country

The average maize oil export price stood at $X per ton in 2022, growing by 111% against the previous year. Over the period under review, the export price recorded a modest expansion. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Sweden amounted to -3.2% per year.

Maize Oil Imports

Imports into Norway

In 2022, overseas purchases of maize oil were finally on the rise to reach X tons after three years of decline. Overall, imports, however, recorded a abrupt decline. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, maize oil imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a deep contraction. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) constituted the largest maize oil supplier to Norway, accounting for a 32% share of total imports. Moreover, maize oil imports from Turkey exceeded the figures recorded by the second-largest supplier, the UK (X tons), twofold. The third position in this ranking was held by the Netherlands (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey totaled -8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-10.2% per year) and the Netherlands (-1.5% per year).

In value terms, Turkey ($X) constituted the largest supplier of maize oil to Norway, comprising 30% of total imports. The second position in the ranking was held by the UK ($X), with a 15% share of total imports. It was followed by the Netherlands, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey amounted to -4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-9.9% per year) and the Netherlands (+1.3% per year).

Import Prices by Country

The average maize oil import price stood at $X per ton in 2022, increasing by 19% against the previous year. In general, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize oil import price increased by +79.2% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 25% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+55.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for maize oil in the world?

The country with the largest volume of maize oil consumption was the United States, accounting for 45% of total volume. Moreover, maize oil consumption in the United States exceeded the figures recorded by the second-largest consumer, China, threefold. The third position in this ranking was occupied by Brazil, with a 3.2% share.

What are the largest producers of maize oil in the world?

The country with the largest volume of maize oil production was the United States, accounting for 50% of total volume. Moreover, maize oil production in the United States exceeded the figures recorded by the second-largest producer, China, threefold. Brazil ranked third in terms of total production with a 4.4% share.

What are the leading suppliers of maize oil to Norway?

In value terms, the largest maize oil suppliers to Norway were France, Belgium and Turkey, together accounting for 59% of total imports. The UK, the Netherlands, Estonia and Spain lagged somewhat behind, together accounting for a further 35%.

What are the leading importers of maize oil from Norway?

In value terms, Sweden remains the key foreign market for maize oil exports from Norway.

What is the average export price for maize oil in Norway?

In 2021, the average maize oil export price amounted to $1,140 per ton, falling by -6.9% against the previous year.

What is the average import price for maize oil in Norway?

The average maize oil import price stood at $1,502 per ton in 2021, declining by -8.9% against the previous year.

This report provides an in-depth analysis of the maize oil market in Norway. 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:

FCL 60 - Oil of Maize

Country coverage:

Norway

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Norway
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