Southern Asia: Maize Oil Market 2024

Maize Oil Market Size in Southern Asia

The South Asian maize oil market contracted to $X in 2022, declining by -11.7% against the previous year. The total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.3% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Maize Oil Production in Southern Asia

In value terms, maize oil production shrank markedly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate prominent growth. The most prominent rate of growth was recorded in 2021 when the production volume increased by 93% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Maize Oil Exports

Exports in Southern Asia

In 2022, approx. X tons of maize oil were exported in Southern Asia; flattening at the previous year. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 464%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, maize oil exports skyrocketed to $X in 2022. In general, exports showed a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 426%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Pakistan represented the major exporting country with an export of around X tons, which resulted at 69% of total exports. Bangladesh (X tons) took a 21% share (based on physical terms) of total exports, which put it in second place, followed by India (9.9%).

From 2012 to 2022, average annual rates of growth with regard to maize oil exports from Pakistan stood at +35.9%. At the same time, Bangladesh (+109.0%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +109.0% from 2012-2022. By contrast, India (-2.1%) illustrated a downward trend over the same period. Pakistan (+52 p.p.) and Bangladesh (+21 p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -57.2% from 2012 to 2022, respectively.

In value terms, Pakistan ($X) remains the largest maize oil supplier in Southern Asia, comprising 59% of total exports. The second position in the ranking was held by India ($X), with a 29% share of total exports.

In Pakistan, maize oil exports expanded at an average annual rate of +36.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+10.6% per year) and Bangladesh (+97.9% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, surging by 30% against the previous year. Over the period under review, the export price recorded a moderate increase. The most prominent rate of growth was recorded in 2017 an increase of 50% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+13.0%), while the other leaders experienced mixed trends in the export price figures.

Maize Oil Imports

Imports in Southern Asia

In 2022, maize oil imports in Southern Asia contracted to X tons, declining by -8.7% on 2021. In general, imports recorded a perceptible slump. The most prominent rate of growth was recorded in 2015 when imports increased by 63% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, maize oil imports shrank rapidly to $X in 2022. Over the period under review, imports saw a pronounced downturn. The pace of growth was the most pronounced in 2015 when imports increased by 57% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Afghanistan (X tons) was the main importer of maize oil, comprising 58% of total imports. Pakistan (X tons) held a 19% share (based on physical terms) of total imports, which put it in second place, followed by Sri Lanka (10%) and Maldives (7.8%). Nepal (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to maize oil imports into Afghanistan stood at -7.0%. At the same time, Pakistan (+7.7%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +7.7% from 2012-2022. Sri Lanka experienced a relatively flat trend pattern. By contrast, Maldives (-1.2%) and Nepal (-2.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Pakistan, Sri Lanka and Maldives increased by +14, +3.3 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Afghanistan ($X) constitutes the largest market for imported maize oil in Southern Asia, comprising 51% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 20% share of total imports. It was followed by Sri Lanka, with a 12% share.

In Afghanistan, maize oil imports decreased by an average annual rate of -8.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (+10.3% per year) and Sri Lanka (-0.4% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, waning by -8.5% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 32%. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Sri Lanka ($X per ton) and Pakistan ($X per ton), while Nepal ($X per ton) and Afghanistan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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