The U.S. Remains the Global Leader in Maize Oil Exports despite 20% Drop in 2014

Vegetable And Animal Oils And Fats September 29, 2015
Author: Alexander Romanenko
Chief Executive Officer

The U.S. dominates in the global maize oil trade. In 2014, the U.S. exported 394 thousand tonnes of maize oil totaling 401 million USD, 20% under the previous year. Its primary trading partner was Saudi Arabia, where it supplied 21% of its total maize oil exports in value terms, accounting for 79% of Saudi Arabia's total imports.

From 2007 to 2014, the U.S. was a net exporter of maize oil. Over this period, exports consistently exceeded imports in value terms. However, in physical terms, the difference was more pronounced, except for 2011 and 2014 when high export prices made it less notable.

Belgium and Azerbaijan were among the other main global suppliers of maize oil in 2014. However, the fastest growing exporters from 2007 to 2014 were Hungary (+51% per year) and Azerbaijan (+21% per year). Azerbaijan significantly strengthened its position in the global export structure.

In 2014, the U.S. top 5 trading partners were Saudi Arabia, Libya, Kuwait, Egypt and the United Arab Emirates, with a combined 63%share of the U.S. maize oil exports. The share of Kuwait increased (+5 percentage points), while the share of Saudi Arabia illustrated negative dynamics (-3 percentage points).

Source: World: Maize Oil - Market Report. Analysis And Forecast To 2020