United Arab Emirates: Refined Maize Oil Market 2025

Refined Maize Oil Market Size in the United Arab Emirates

The refined maize oil market in the United Arab Emirates rose remarkably to $X in 2021, growing by 7.4% 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 continues to indicate a perceptible curtailment. Refined maize oil consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Refined Maize Oil Exports

Exports from the United Arab Emirates

In 2021, the amount of refined maize (corn) oil exported from the United Arab Emirates fell to X tons, shrinking by -10.3% compared with 2020 figures. Overall, exports, however, continue to indicate temperate growth. The most prominent rate of growth was recorded in 2016 with an increase of 331%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, refined maize oil exports contracted to $X in 2021. In general, exports, however, showed a pronounced expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 298% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Kuwait (X tons) was the main destination for refined maize oil exports from the United Arab Emirates, accounting for a 35% share of total exports. Moreover, refined maize oil exports to Kuwait exceeded the volume sent to the second major destination, Malaysia (X tons), twofold. Saudi Arabia (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Kuwait amounted to +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+42.6% per year) and Saudi Arabia (-7.3% per year).

In value terms, Kuwait ($X) remains the key foreign market for refined maize (corn) oil exports from the United Arab Emirates, comprising 41% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 13% share of total exports. It was followed by Saudi Arabia, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Kuwait totaled +1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+57.1% per year) and Saudi Arabia (-5.6% per year).

Export Prices by Country

In 2021, the average refined maize oil export price amounted to $X per ton, increasing by 5.9% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 40%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, 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 Saudi Arabia ($X per ton), while the average price for exports to Malaysia ($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 Malaysia (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Maize Oil Imports

Imports into the United Arab Emirates

Refined maize oil imports into the United Arab Emirates declined to X tons in 2021, with a decrease of -12.3% compared with the year before. Overall, imports continue to indicate a pronounced descent. The pace of growth appeared the most rapid in 2014 with an increase of 94%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, refined maize oil imports amounted to $X in 2021. Over the period under review, imports continue to indicate a pronounced contraction. The growth pace was the most rapid in 2016 when imports increased by 58% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Saudi Arabia (X tons), Spain (X tons) and Turkey (X tons) were the main suppliers of refined maize oil imports to the United Arab Emirates, together accounting for 57% of total imports. These countries were followed by France, the United States, South Africa and Oman, which together accounted for a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +688.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) constituted the largest supplier of refined maize (corn) oil to the United Arab Emirates, comprising 41% of total imports. The second position in the ranking was taken by Turkey ($X), with a 13% share of total imports. It was followed by Spain, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Saudi Arabia totaled +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+30.5% per year) and Spain (+7.1% per year).

Import Prices by Country

The average refined maize oil import price stood at $X per ton in 2021, with an increase of 30% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, refined maize oil import price increased by +68.2% against 2014 indices. 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 Saudi Arabia ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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