Belgium: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in Belgium

The Belgian refined maize oil market dropped sharply to $X in 2022, waning by X% against the previous year. Overall, consumption showed a abrupt shrinkage. Refined maize oil consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Refined Maize Oil Production in Belgium

In value terms, refined maize oil production surged to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible setback. Refined maize oil production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Refined Maize Oil Exports

Exports from Belgium

In 2022, exports of refined maize (corn) oil from Belgium soared to X tons, jumping by X% against 2021. In general, exports, however, recorded a noticeable downturn. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, refined maize oil exports soared to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Greece (X tons), Kuwait (X tons) and Israel (X tons) were the main destinations of refined maize oil exports from Belgium, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kuwait ($X), Greece ($X) and the UK ($X) were the largest markets for refined maize oil exported from Belgium worldwide, with a combined X% share of total exports.

Kuwait, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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 refined maize oil export price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, export price indicated temperate 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, refined maize oil export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

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

Refined Maize Oil Imports

Imports into Belgium

In 2022, the amount of refined maize (corn) oil imported into Belgium skyrocketed to X tons, increasing by X% on 2021 figures. In general, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, refined maize oil imports soared to $X in 2022. Overall, imports posted a resilient increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of refined maize oil to Belgium, accounting for a X% share of total imports. Moreover, refined maize oil imports from France exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from France stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the Netherlands (X% per year).

In value terms, France ($X) constituted the largest supplier of refined maize (corn) oil to Belgium, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from France amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the Netherlands (X% per year).

Import Prices by Country

In 2022, the average refined maize oil import price amounted to $X per ton, rising by X% against the previous year. In general, import price indicated a modest increase 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, refined maize oil import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2022 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 the Netherlands ($X per ton), while the price for Italy ($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 Netherlands (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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