Australia: Maize Oil Market 2024

Maize Oil Market Size in Australia

The Australian maize oil market rose markedly to $X in 2022, picking up by X% against the previous year. In general, consumption showed a abrupt slump. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Maize Oil Production in Australia

In value terms, maize oil production reduced to $X in 2022 estimated in export price. Overall, production showed a perceptible decline. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. Maize oil production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Maize Oil Exports

Exports from Australia

In 2022, overseas shipments of maize oil increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, maize oil exports surged to $X in 2022. Overall, exports, however, saw a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

New Zealand (X tons), Japan (X kg) and Singapore (X kg) were the main destinations of maize oil exports from Australia, together comprising X% 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 Japan (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, Japan ($X), New Zealand ($X) and Singapore ($X) appeared to be the largest markets for maize oil exported from Australia worldwide, together accounting for X% of total exports.

Japan, with a CAGR of X%, recorded 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 a decline.

Export Prices by Country

In 2022, the average maize oil export price amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price, however, posted a buoyant increase. The growth pace was the most rapid in 2021 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then dropped notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to New Zealand ($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 Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Oil Imports

Imports into Australia

In 2022, approx. X tons of maize oil were imported into Australia; dropping by X% against 2021. Over the period under review, imports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, maize oil imports rose rapidly to $X in 2022. Overall, imports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of maize oil to Australia, accounting for a X% share of total imports. Moreover, maize oil imports from Malaysia exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), twofold. The third position in this ranking was held by Turkey (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and Turkey (X% per year).

In value terms, Malaysia ($X) constituted the largest supplier of maize oil to Australia, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports. It was followed by New Zealand, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and New Zealand (X% per year).

Import Prices by Country

The average maize oil import price stood at $X per ton in 2022, growing by X% against the previous year. In general, import price indicated pronounced growth 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, maize oil import price increased by X% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for New Zealand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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