Report Update: Apr 1, 2024

Brazil - Refined Maize (Corn) Oil - Market Analysis, Forecast, Size, Trends And Insights

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Refined Maize Oil Price in Brazil - 2023

Refined Maize Oil Price in Brazil (CIF) - 2023

In July 2023, the average refined maize oil import price amounted to $2,107 per ton, declining by -21.8% against the previous month. Over the period under review, the import price continues to indicate a mild decline. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 19% m-o-m. Over the period under review, average import prices hit record highs at $3,211 per ton in October 2022; however, from November 2022 to July 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was the United States ($30,444 per ton), while the price for Uruguay stood at $2,081 per ton.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by the United States (+18.8%).

Refined Maize Oil Price in Brazil (FOB) - 2022

In 2022, the average refined maize oil export price amounted to $2,279 per ton, with an increase of 26% against the previous year. In general, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined maize oil export price increased by +106.5% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 39%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Trinidad and Tobago ($2,420 per ton), while the average price for exports to Thailand ($1,419 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 Thailand (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Maize Oil Imports in Brazil

In 2022, after three years of growth, there was significant decline in overseas purchases of refined maize (corn) oil, when their volume decreased by -19.8% to 1.5K tons. Over the period under review, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 683%.

In value terms, refined maize oil imports stood at $4.1M in 2022. Overall, imports, however, recorded significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 449% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Import of Refined Maize Oil in Brazil (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Uruguay	N/A	0.6	3.6	3.5	141.5%
United States	0.1	0.1	0.2	0.5	71.0%
Others	0.1	0.1	0.1	N/A	0.0%
Total	0.2	0.9	4.0	4.1	173.7%

Top Suppliers of Refined Maize Oil to Brazil in 2022:

Uruguay (1470.1 tons)
United States (75.4 tons)

Refined Maize Oil Exports in Brazil

In 2022, the amount of refined maize (corn) oil exported from Brazil contracted significantly to 125 tons, with a decrease of -42.4% compared with the year before. Overall, exports recorded a significant decline. The smallest decline of -20.7% was in 2021.

In value terms, refined maize oil exports shrank sharply to $286K in 2022. Over the period under review, exports saw a precipitous slump. The most prominent rate of growth was recorded in 2021 with an increase of 10%.

Export of Refined Maize Oil in Brazil (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Uruguay	428	288	305	225	-19.3%
Germany	0.1	0.1	0.2	17.5	459.3%
Trinidad and Tobago	N/A	7.3	13.8	7.0	-2.1%
Thailand	2.3	1.9	2.6	2.8	6.8%
Argentina	137	N/A	N/A	1.6	-77.3%
Venezuela	N/A	32.6	N/A	N/A	0%
Malaysia	120	N/A	N/A	N/A	0%
Oman	126	N/A	N/A	N/A	0%
Tunisia	N/A	N/A	39.6	N/A	0%
Libya	157	N/A	N/A	N/A	0%
Others	46.9	29.3	34.7	31.9	-12.1%
Total	1,016	359	396	286	-34.5%

Top Export Markets for Refined Maize Oil from Brazil in 2022:

Uruguay (101.3 tons)
Germany (10.4 tons)
Trinidad and Tobago (2.9 tons)
Thailand (1.9 tons)
Argentina (0.5 tons)

Source: IndexBox Market Intelligence Platform

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

Brazil

Data coverage:

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