Argentina: Maize Oil Market 2024

Maize Oil Market Size in Argentina

In 2022, after two years of growth, there was significant decline in the Argentinian maize oil market, when its value decreased by X% to $X. Over the period under review, consumption, however, saw a relatively flat trend pattern. Maize oil consumption peaked at $X in 2021, and then reduced in the following year.

Maize Oil Production in Argentina

In value terms, maize oil production expanded modestly to $X in 2022 estimated in export price. Overall, production showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Maize Oil Exports

Exports from Argentina

In 2022, overseas shipments of maize oil increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, maize oil exports expanded significantly to $X in 2022. Overall, exports, however, continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Tunisia (X tons), Turkey (X tons) and Azerbaijan (X tons) were the main destinations of maize oil exports from Argentina, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Tunisia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for maize oil exported from Argentina were Tunisia ($X), Azerbaijan ($X) and Turkey ($X), together comprising X% of total exports.

Tunisia, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average maize oil export price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price saw a perceptible setback. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Kenya ($X 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 Azerbaijan (X%), while the prices for the other major destinations experienced mixed trend patterns.

Maize Oil Imports

Imports into Argentina

In 2022, the amount of maize oil imported into Argentina totaled X tons, picking up by X% against 2021. In general, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, maize oil imports soared to $X in 2022. Over the period under review, imports continue to indicate measured growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of maize oil to Argentina, with a X% share of total imports. Moreover, maize oil imports from the United States exceeded the figures recorded by the second-largest supplier, the UK (X kg), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Brazil (X% per year).

In value terms, the UK ($X), the United States ($X) and Brazil ($X) were the largest maize oil suppliers to Argentina.

In terms of the main suppliers, the United States, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average maize oil import price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price, however, recorded a pronounced curtailment. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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