CIS: Maize Oil Market 2024

Maize Oil Market Size in CIS

In 2022, the CIS maize oil market increased by X% to $X, rising for the fourth consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is likely to see steady growth in the near future.

Maize Oil Production in CIS

In value terms, maize oil production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

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Maize Oil Exports

Exports in CIS

In 2022, maize oil exports in the CIS rose rapidly to X tons, with an increase of X% compared with the previous year. In general, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, maize oil exports soared to $X in 2022. Overall, exports, however, saw a abrupt contraction. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Russia (X tons) was the major exporter of maize oil, achieving X% of total exports. It was distantly followed by Azerbaijan (X tons), comprising a X% share of total exports.

Russia was also the fastest-growing in terms of the maize oil exports, with a CAGR of X% from 2012 to 2022. Azerbaijan (X%) illustrated a downward trend over the same period. Russia (X p.p.) significantly strengthened its position in terms of the total exports, while Azerbaijan saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Russia ($X) remains the largest maize oil supplier in the CIS, comprising X% of total exports. The second position in the ranking was held by Azerbaijan ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Russia amounted to X%.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Azerbaijan ($X per ton), while Russia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%).

Maize Oil Imports

Imports in CIS

After three years of growth, purchases abroad of maize oil decreased by X% to X tons in 2022. In general, imports showed a pronounced decrease. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, maize oil imports amounted to $X in 2022. Overall, imports, however, showed a measured increase. The pace of growth appeared the most rapid in 2016 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Azerbaijan prevails in imports structure, finishing at X tons, which was near X% of total imports in 2022. Belarus (X tons) and Armenia (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to maize oil imports into Azerbaijan stood at X%. At the same time, Belarus (X%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2022. Armenia experienced a relatively flat trend pattern. While the share of Azerbaijan (X p.p.) and Belarus (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Azerbaijan ($X) constitutes the largest market for imported maize oil in the CIS, comprising X% of total imports. The second position in the ranking was held by Belarus ($X), with a X% share of total imports.

In Azerbaijan, maize oil imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Belarus (X% per year) and Armenia (X% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, with an increase of X% against the previous year. In general, the import price continues to indicate strong growth. The growth pace was the most rapid in 2016 an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Armenia ($X per ton), while Azerbaijan ($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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