Report Update Nov 1, 2024

Vietnam - Maize Oil - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Maize Oil Market 2024

Maize Oil Market Size in Vietnam

The Vietnamese maize oil market dropped modestly to $X in 2022, which is down by -2.9% 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 perceptible decline. Maize oil consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Maize Oil Exports

Exports from Vietnam

In 2022, exports of maize oil from Vietnam shrank markedly to X tons, falling by -71% on the year before. Overall, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 4,133% against the previous year. As a result, the exports attained the peak of X tons, and then shrank significantly in the following year.

In value terms, maize oil exports contracted notably to $X in 2022. Over the period under review, exports saw a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 3,443%. As a result, the exports attained the peak of $X, and then declined remarkably in the following year.

Exports by Country

Bahrain (X kg) was the main destination for maize oil exports from Vietnam, with a 73% share of total exports. Moreover, maize oil exports to Bahrain exceeded the volume sent to the second major destination, Honduras (X kg), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bahrain was relatively modest.

In value terms, Bahrain ($X) emerged as the key foreign market for maize oil exports from Vietnam, comprising 86% of total exports. The second position in the ranking was taken by Honduras ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Bahrain was relatively modest.

Export Prices by Country

The average maize oil export price stood at $X per ton in 2022, jumping by 76% against the previous year. Overall, the export price continues to indicate a buoyant increase. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Honduras stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (-0.8%).

Maize Oil Imports

Imports into Vietnam

In 2022, after two years of decline, there was significant growth in purchases abroad of maize oil, when their volume increased by 14% to X tons. Overall, imports, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 82% against the previous year. 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 reduced to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 57%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X tons), New Zealand (X tons) and Sweden (X tons) were the main suppliers of maize oil imports to Vietnam, with a combined 74% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +167.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), New Zealand ($X) and Sweden ($X) constituted the largest maize oil suppliers to Vietnam, with a combined 79% share of total imports.

Sweden, with a CAGR of +180.7%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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, shrinking by -17.9% against the previous year. Overall, the import price recorded a perceptible slump. The most prominent rate of growth was recorded in 2021 when the average import price increased by 28% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+5.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for maize oil in the world?

The country with the largest volume of maize oil consumption was the United States, comprising approx. 45% of total volume. Moreover, maize oil consumption in the United States exceeded the figures recorded by the second-largest consumer, China, threefold. Brazil ranked third in terms of total consumption with a 3.2% share.

What are the largest producers of maize oil in the world?

The United States constituted the country with the largest volume of maize oil production, accounting for 50% of total volume. Moreover, maize oil production in the United States exceeded the figures recorded by the second-largest producer, China, threefold. The third position in this ranking was occupied by Brazil, with a 4.4% share.

What are the leading suppliers of maize oil to Vietnam?

In value terms, the United States constituted the largest supplier of maize oil to Vietnam, comprising 77% of total imports. The second position in the ranking was occupied by Singapore, with an 8.3% share of total imports. It was followed by Malaysia, with an 8% share.

What is the average export price for maize oil in Vietnam?

The average maize oil export price stood at $1,854 per ton in 2020, surging by 16% against the previous year.

What is the average import price for maize oil in Vietnam?

In 2021, the average maize oil import price amounted to $1,343 per ton, declining by -9.4% against the previous year.

This report provides an in-depth analysis of the maize oil market in Vietnam. 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:

FCL 60 - Oil of Maize

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
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