Eastern Asia: Crude Maize Oil Market 2024

Crude Maize Oil Market Size in Eastern Asia

The East Asian crude maize oil market totaled $X in 2022, with an increase of X% against the previous year. The total consumption indicated a noticeable 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, consumption decreased by X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Crude Maize Oil Production in Eastern Asia

In value terms, crude maize oil production contracted slightly to $X in 2022 estimated in export price. The total production indicated a slight 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 increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Crude Maize Oil Exports

Exports in Eastern Asia

In 2022, exports of crude maize (corn) oil in Eastern Asia contracted sharply to X tons, declining by X% against the previous year's figure. In general, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of X%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, crude maize oil exports declined notably to $X in 2022. Over the period under review, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

South Korea was the major exporter of crude maize (corn) oil in Eastern Asia, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons) and Japan (X tons), together constituting a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to crude maize oil exports from South Korea stood at X%. Taiwan (Chinese) (X%) and Japan (X%) illustrated a downward trend over the same period. While the share of South Korea (X p.p.) and Taiwan (Chinese) (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (X p.p.) displayed negative dynamics.

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

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

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price, however, showed a slight shrinkage. The growth pace was the most rapid in 2020 an increase of X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Crude Maize Oil Imports

Imports in Eastern Asia

In 2022, imports of crude maize (corn) oil in Eastern Asia reduced remarkably to X tons, dropping by X% on the year before. In general, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2014 when imports increased by X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, crude maize oil imports fell dramatically to $X in 2022. Over the period under review, imports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports hit record highs at $X in 2021, and then declined rapidly in the following year.

Imports by Country

South Korea dominates imports structure, resulting at X tons, which was approx. X% of total imports in 2022. Japan (X tons) ranks second in terms of the total imports with an X% share, followed by Macao SAR (X%). China (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

Imports into South Korea decreased at an average annual rate of X% from 2012 to 2022. At the same time, Macao SAR (X%) and China (X%) displayed positive paces of growth. Moreover, Macao SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Japan (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. Macao SAR (X p.p.), Japan (X p.p.), China (X p.p.) and Hong Kong SAR (X p.p.) significantly strengthened its position in terms of the total imports, while South Korea saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, South Korea ($X) constitutes the largest market for imported crude maize (corn) oil in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by Macao SAR, with a X% share.

In South Korea, crude maize oil imports plunged by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (X% per year) and Macao SAR (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, growing by X% against the previous year. In general, the import price recorded a prominent increase. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while China ($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 Korea (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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