Report Update Nov 1, 2024

Venezuela - Refined Maize (Corn) Oil - Market Analysis, Forecast, Size, Trends and Insights

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Venezuela: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in Venezuela

After two years of decline, the Venezuelan refined maize oil market increased by 1.8% to $X in 2021. Overall, consumption, however, continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2017 when the market value increased by 6.8%. Refined maize oil consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Refined Maize Oil Production in Venezuela

In value terms, refined maize oil production totaled $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 8.8%. Refined maize oil production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Refined Maize Oil Exports

Exports from Venezuela

Refined maize oil exports from Venezuela reached X tons in 2021, rising by 4.7% against 2020 figures. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 278% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, refined maize oil exports skyrocketed to $X in 2021. Over the period under review, exports showed a significant increase. The growth pace was the most rapid in 2013 with an increase of 256%. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in years to come.

Exports by Country

Aruba (X tons) was the main destination for refined maize oil exports from Venezuela, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Aruba totaled +29.0%.

In value terms, Aruba ($X) also remains the key foreign market for refined maize (corn) oil exports from Venezuela.

From 2012 to 2021, the average annual growth rate of value to Aruba stood at +32.1%.

Export Prices by Country

The average refined maize oil export price stood at $X per ton in 2021, growing by 15% against the previous year. Overall, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, refined maize oil export price increased by +127.1% against 2015 indices. The pace of growth appeared the most rapid in 2016 when the average export price increased by 15%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the rate of growth in terms of prices for Aruba amounted to +2.4% per year.

Refined Maize Oil Imports

Imports into Venezuela

In 2021, approx. X tons of refined maize (corn) oil were imported into Venezuela; with a decrease of -70.9% against the previous year. In general, imports faced a precipitous curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 280%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, refined maize oil imports dropped significantly to $X in 2021. Over the period under review, imports showed a sharp curtailment. The pace of growth appeared the most rapid in 2019 when imports increased by 188% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) was the main refined maize oil supplier to Venezuela, with a approx. 97% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at -50.3%.

In value terms, the United States ($X) constituted the largest supplier of refined maize (corn) oil to Venezuela.

From 2012 to 2021, the average annual growth rate of value from the United States stood at -48.0%.

Import Prices by Country

In 2021, the average refined maize oil import price amounted to $X per ton, with an increase of 42% against the previous year. In general, import price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine-year period. 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 +74.9% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +4.7% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined maize (corn) oil in the world?

China constituted the country with the largest volume of refined maize oil consumption, accounting for 18% of total volume. Moreover, refined maize oil consumption in China exceeded the figures recorded by the second-largest consumer, India, twofold. The United States ranked third in terms of total consumption with a 4% share.

What are the largest producers of refined maize (corn) oil in the world?

The country with the largest volume of refined maize oil production was China, comprising approx. 19% of total volume. Moreover, refined maize oil production in China exceeded the figures recorded by the second-largest producer, India, twofold. The United States ranked third in terms of total production with a 4.9% share.

What are the leading suppliers of refined maize (corn) oil to Venezuela?

In value terms, the United States constituted the largest supplier of refined maize oil to Venezuela.

What are the leading importers of refined maize (corn) oil from Venezuela?

In value terms, Aruba remains the key foreign market for refined maize oil exports from Venezuela.

What is the average export price for refined maize (corn) oil in Venezuela?

In 2021, the average refined maize oil export price amounted to $2,345 per ton, declining by -4.3% against the previous year.

What is the average import price for refined maize (corn) oil in Venezuela?

In 2021, the average refined maize oil import price amounted to $1,164 per ton, falling by -17.1% against the previous year.

This report provides an in-depth analysis of the refined maize oil market in Venezuela. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10621460 - Refined maize (corn) oil and its fractions (excluding chemically modified)

Country coverage:

Venezuela

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Venezuela
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023