Switzerland: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in Switzerland

The Swiss refined maize oil market skyrocketed to $X in 2021, rising by 19% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Refined maize oil consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Refined Maize Oil Production in Switzerland

In value terms, refined maize oil production surged to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 40%. Refined maize oil production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Refined Maize Oil Exports

Exports from Switzerland

In 2021, approx. X tons of refined maize (corn) oil were exported from Switzerland; which is down by -25.7% on 2020. Overall, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of 139% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, refined maize oil exports skyrocketed to $X in 2021. In general, exports, however, recorded modest growth. The most prominent rate of growth was recorded in 2020 when exports increased by 86% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for refined maize oil exports from Switzerland, with a 60% share of total exports. Moreover, refined maize oil exports to Germany exceeded the volume sent to the second major destination, the UK (X kg), threefold. The third position in this ranking was taken by South Korea (X kg), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume to Germany totaled -1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+6.8% per year) and South Korea (+31.5% per year).

In value terms, South Korea ($X), the UK ($X) and Germany ($X) constituted the largest markets for refined maize oil exported from Switzerland worldwide, together accounting for 98% of total exports.

In terms of the main countries of destination, South Korea, with a CAGR of +33.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average refined maize oil export price amounted to $X per ton, jumping by 83% against the previous year. In general, the export price enjoyed buoyant growth. The most prominent rate of growth was recorded in 2015 an increase of 107% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to France ($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 Italy (+44.6%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Maize Oil Imports

Imports into Switzerland

In 2021, approx. X tons of refined maize (corn) oil were imported into Switzerland; with a decrease of -10.5% compared with the year before. In general, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 51%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, refined maize oil imports rose remarkably to $X in 2021. Overall, imports continue to indicate a pronounced descent. The growth pace was the most rapid in 2020 when imports increased by 41% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

France (X tons), Austria (X tons) and Italy (X tons) were the main suppliers of refined maize oil imports to Switzerland, with a combined 96% share of total imports.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +11.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined maize oil suppliers to Switzerland were France ($X), Austria ($X) and Italy ($X), together comprising 93% of total imports.

In terms of the main suppliers, Austria, with a CAGR of +13.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average refined maize oil import price amounted to $X per ton, growing by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.8%. 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 the United States ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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