Tunisia: Crude Maize Oil Market 2024

Crude Maize Oil Market Size in Tunisia

The Tunisian crude maize oil market surged to $X in 2022, rising by 25% 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). In general, consumption posted a noticeable expansion. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Crude Maize Oil Exports

Exports from Tunisia

In 2022, after five years of decline, there was significant growth in overseas shipments of crude maize (corn) oil, when their volume increased by 12% to X tons. In general, exports, however, recorded a significant decline. The growth pace was the most rapid in 2016 when exports increased by 1,076% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, crude maize oil exports fell to $X in 2022. Overall, exports, however, continue to indicate a dramatic decline. The most prominent rate of growth was recorded in 2016 when exports increased by 887% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Jordan (X tons) was the main destination for crude maize oil exports from Tunisia, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Jordan stood at -23.4%.

In value terms, Jordan ($X) also remains the key foreign market for crude maize (corn) oil exports from Tunisia.

From 2012 to 2022, the average annual rate of growth in terms of value to Jordan stood at -21.2%.

Export Prices by Country

In 2022, the average crude maize oil export price amounted to $X per ton, declining by -18.4% against the previous year. Overall, the export price, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2021 when the average export price increased by 49% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped rapidly in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for Jordan amounted to +2.9% per year.

Crude Maize Oil Imports

Imports into Tunisia

In 2022, approx. X tons of crude maize (corn) oil were imported into Tunisia; surging by 11% compared with the previous year's figure. In general, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -10.6% against 2017 indices. The pace of growth appeared the most rapid in 2017 with an increase of 82% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, crude maize oil imports soared to $X in 2022. Over the period under review, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 95%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Brazil (X tons) constituted the largest crude maize oil supplier to Tunisia, accounting for a 72% share of total imports. Moreover, crude maize oil imports from Brazil exceeded the figures recorded by the second-largest supplier, Argentina (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil totaled +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+23.9% per year) and the United States (-18.8% per year).

In value terms, Brazil ($X) constituted the largest supplier of crude maize (corn) oil to Tunisia, comprising 73% of total imports. The second position in the ranking was taken by Argentina ($X), with a 23% share of total imports. It was followed by the United States, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil amounted to +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+25.5% per year) and the United States (-18.3% per year).

Import Prices by Country

In 2022, the average crude maize oil import price amounted to $X per ton, increasing by 19% against the previous year. In general, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude maize oil import price increased by +107.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 61%. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Brazil ($X per ton) and Argentina ($X per ton), while the price for France ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform