United Arab Emirates: Maize Oil Market 2024

Maize Oil Market Size in the United Arab Emirates

The maize oil market in the United Arab Emirates was estimated at $X in 2022, rising by 3.2% 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, however, saw a pronounced setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Maize Oil Exports

Exports from the United Arab Emirates

In 2022, shipments abroad of maize oil was finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. In general, exports saw a notable expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 308% 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 somewhat lower figure.

In value terms, maize oil exports declined to $X in 2022. Overall, exports continue to indicate a pronounced increase. The growth pace was the most rapid in 2016 with an increase of 278% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Bahrain (X tons) was the main destination for maize oil exports from the United Arab Emirates, with a 66% share of total exports. Moreover, maize oil exports to Bahrain exceeded the volume sent to the second major destination, Jordan (X tons), fourfold. The third position in this ranking was held by Sri Lanka (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Bahrain stood at +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+26.9% per year) and Sri Lanka (+128.0% per year).

In value terms, Bahrain ($X) emerged as the key foreign market for maize oil exports from the United Arab Emirates, comprising 73% of total exports. The second position in the ranking was held by Jordan ($X), with a 16% share of total exports. It was followed by Sri Lanka, with a 9.7% share.

From 2012 to 2022, the average annual growth rate of value to Bahrain totaled +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+27.3% per year) and Sri Lanka (+130.2% per year).

Export Prices by Country

The average maize oil export price stood at $X per ton in 2022, with a decrease of -12.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 51%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Tanzania ($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 Bahrain (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Oil Imports

Imports into the United Arab Emirates

In 2022, maize oil imports into the United Arab Emirates rose markedly to X tons, picking up by 14% on the year before. Over the period under review, imports, however, saw a perceptible curtailment. The pace of growth was the most pronounced in 2016 with an increase of 57%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, maize oil imports shrank modestly to $X in 2022. In general, imports, however, saw a mild setback. The pace of growth was the most pronounced in 2016 when imports increased by 68%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Turkey (X tons), China (X tons) and South Africa (X tons) were the main suppliers of maize oil imports to the United Arab Emirates, with a combined 92% share of total imports. Ukraine, Egypt and the United States lagged somewhat behind, together accounting for a further 6.1%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ukraine (with a CAGR of +181.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest maize oil suppliers to the United Arab Emirates were China ($X), Turkey ($X) and South Africa ($X), together accounting for 93% of total imports. Ukraine, Egypt and the United States lagged somewhat behind, together accounting for a further 5.1%.

In terms of the main suppliers, Ukraine, with a CAGR of +142.6%, recorded 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 2022, the average maize oil import price amounted to $X per ton, waning by -14.2% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 33% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :