Report Update Nov 1, 2024

Saudi Arabia - Maize Oil - Market Analysis, Forecast, Size, Trends and Insights

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Saudi Arabia: Maize Oil Market 2024

Maize Oil Market Size in Saudi Arabia

The Saudi maize oil market shrank notably to $X in 2022, waning by -24% 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 recorded a perceptible downturn. As a result, consumption reached the peak level of $X, and then dropped sharply in the following year.

Maize Oil Exports

Exports from Saudi Arabia

In 2022, shipments abroad of maize oil decreased by -3.9% to X tons, falling for the sixth year in a row after two years of growth. Overall, exports showed a perceptible decrease. The pace of growth was the most pronounced in 2013 when exports increased by 9.4% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, maize oil exports contracted modestly to $X in 2022. In general, exports continue to indicate a noticeable reduction. The pace of growth was the most pronounced in 2013 with an increase of 7.4%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Jordan (X tons), the United Arab Emirates (X tons) and Bahrain (X tons) were the main destinations of maize oil exports from Saudi Arabia, together comprising 62% of total exports. Yemen, Kuwait, Iraq and Lebanon lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +32.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Jordan ($X), the United Arab Emirates ($X) and Bahrain ($X) were the largest markets for maize oil exported from Saudi Arabia worldwide, with a combined 68% share of total exports. Yemen, Kuwait, Iraq and Lebanon lagged somewhat behind, together comprising a further 27%.

Iraq, with a CAGR of +28.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average maize oil export price stood at $X per ton in 2022, stabilizing at the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 9% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Yemen ($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 United Arab Emirates (+1.1%), while the prices for the other major destinations experienced mixed trend patterns.

Maize Oil Imports

Imports into Saudi Arabia

Maize oil imports into Saudi Arabia declined to X tons in 2022, waning by -11.9% against 2021 figures. Over the period under review, imports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 31% against the previous year. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, maize oil imports reduced sharply to $X in 2022. Overall, imports showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 98%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main supplier of maize oil to Saudi Arabia, with a 96% share of total imports. It was followed by Yemen (X tons), with a 2% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled -1.1%.

In value terms, the United States ($X) constituted the largest supplier of maize oil to Saudi Arabia, comprising 94% of total imports. The second position in the ranking was taken by Yemen ($X), with a 2.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States totaled -3.3%.

Import Prices by Country

In 2022, the average maize oil import price amounted to $X per ton, reducing by -14.6% against the previous year. Overall, the import price showed a mild slump. The most prominent rate of growth was recorded in 2021 an increase of 51%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Yemen ($X per ton), while the price for the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Yemen (+0.9%).

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, comprising approx. 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 Saudi Arabia?

In value terms, the United States constituted the largest supplier of maize oil to Saudi Arabia, comprising 85% of total imports. The second position in the ranking was occupied by the United Arab Emirates, with a 7.6% share of total imports. It was followed by China, with a 3.6% share.

What are the leading importers of maize oil from Saudi Arabia?

In value terms, the largest markets for maize oil exported from Saudi Arabia were Jordan, Bahrain and the United Arab Emirates, together accounting for 73% of total exports. Kuwait, Iraq, Yemen and Iran lagged somewhat behind, together accounting for a further 27%.

What is the average export price for maize oil in Saudi Arabia?

In 2021, the average maize oil export price amounted to $2,042 per ton, picking up by 2.9% against the previous year.

What is the average import price for maize oil in Saudi Arabia?

In 2021, the average maize oil import price amounted to $915 per ton, flattening at the previous year.

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

Saudi Arabia

Data coverage:

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