Asia: Crude Maize Oil Market 2024

Crude Maize Oil Market Size in Asia

The Asian crude maize oil market expanded rapidly to $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Crude Maize Oil Production in Asia

In value terms, crude maize oil production fell modestly to $X in 2022 estimated in export price. The total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Crude Maize Oil Exports

Exports in Asia

Crude maize oil exports dropped sharply to X tons in 2022, reducing by X% compared with the previous year. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, crude maize oil exports reduced notably to $X in 2022. Over the period under review, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey prevails in exports structure, recording X tons, which was approx. X% of total exports in 2022. It was distantly followed by South Korea (X tons), making up a X% share of total exports. Taiwan (Chinese) (X tons), Malaysia (X tons) and the United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to crude maize oil exports from Turkey stood at X%. At the same time, Malaysia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, the United Arab Emirates (X%), Taiwan (Chinese) (X%) and South Korea (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Malaysia increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest crude maize oil supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled X%. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Malaysia (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price enjoyed strong growth. The pace of growth was the most pronounced in 2021 when the export price increased by X%. Over the period under review, the export prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Crude Maize Oil Imports

Imports in Asia

In 2022, imports of crude maize (corn) oil in Asia rose markedly to X tons, surging by X% on 2021 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, crude maize oil imports rose markedly to $X in 2022. Total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

The countries with the highest levels of crude maize oil imports in 2022 were Kuwait (X tons), Singapore (X tons) and Saudi Arabia (X tons), together finishing at X% of total import. Turkey (X tons) ranks next in terms of the total imports with a X% share, followed by Azerbaijan (X%). The following importers - Oman (X tons) and Qatar (X tons) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Qatar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Kuwait ($X), Singapore ($X) and Saudi Arabia ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Turkey, Azerbaijan, Qatar and Oman lagged somewhat behind, together comprising a further X%.

Qatar, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, remaining relatively unchanged against the previous year. Import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude maize oil import price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X%. As a result, import price attained the peak level of $X per ton, and then contracted modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Azerbaijan ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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