Poland: Maize Oil Market 2024

Maize Oil Market Size in Poland

In 2022, the Polish maize oil market decreased by -11% to $X, falling for the second consecutive year after three years of growth. Overall, consumption, however, recorded resilient growth. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Maize Oil Production in Poland

In value terms, maize oil production rose significantly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 379% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Maize Oil Exports

Exports from Poland

After two years of growth, shipments abroad of maize oil decreased by -16.5% to X tons in 2022. In general, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 1,073% against the previous year. The exports peaked at X tons in 2021, and then contracted markedly in the following year.

In value terms, maize oil exports skyrocketed to $X in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 328% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The Netherlands (X tons) was the main destination for maize oil exports from Poland, with a 61% share of total exports. Moreover, maize oil exports to the Netherlands exceeded the volume sent to the second major destination, Germany (X tons), threefold. The third position in this ranking was held by Estonia (X tons), with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands amounted to +58.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+208.3% per year) and Estonia (+164.7% per year).

In value terms, the Netherlands ($X) remains the key foreign market for maize oil exports from Poland, comprising 58% of total exports. The second position in the ranking was held by Germany ($X), with a 22% share of total exports. It was followed by Austria, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands stood at +89.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+184.5% per year) and Austria (+481.6% per year).

Export Prices by Country

In 2022, the average maize oil export price amounted to $X per ton, surging by 52% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt contraction. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+19.8%), while the prices for the other major destinations experienced mixed trend patterns.

Maize Oil Imports

Imports into Poland

In 2022, supplies from abroad of maize oil decreased by -37% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2020 with an increase of 218%. Over the period under review, imports reached the maximum at X tons in 2021, and then shrank markedly in the following year.

In value terms, maize oil imports fell to $X in 2022. Overall, imports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 195% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Hungary (X tons) constituted the largest maize oil supplier to Poland, with a 85% share of total imports. Moreover, maize oil imports from Hungary exceeded the figures recorded by the second-largest supplier, Spain (X tons), sevenfold. The third position in this ranking was taken by Belgium (X tons), with a 0.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Hungary amounted to +36.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+106.4% per year) and Belgium (-32.6% per year).

In value terms, Hungary ($X) constituted the largest supplier of maize oil to Poland, comprising 77% of total imports. The second position in the ranking was held by Spain ($X), with a 20% share of total imports. It was followed by the Netherlands, with a 0.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Hungary totaled +55.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+106.3% per year) and the Netherlands (-5.1% per year).

Import Prices by Country

In 2022, the average maize oil import price amounted to $X per ton, picking up by 46% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 122%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :