Eastern Asia: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in Eastern Asia

The East Asian refined maize oil market shrank modestly to $X in 2022, approximately equating the previous year. Over the period under review, consumption continues to indicate a noticeable descent. The pace of growth was the most pronounced in 2018 when the market value increased by X%. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Refined Maize Oil Production in Eastern Asia

In value terms, refined maize oil production dropped modestly to $X in 2022 estimated in export price. Overall, production saw a perceptible setback. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Refined Maize Oil Exports

Exports in Eastern Asia

In 2022, the amount of refined maize (corn) oil exported in Eastern Asia surged to X tons, increasing by X% compared with 2021 figures. Total exports indicated a noticeable expansion from 2012 to 2022: its volume 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. The growth pace was the most rapid in 2017 with an increase of X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, refined maize oil exports skyrocketed to $X in 2022. In general, exports continue to indicate a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the largest exporter of refined maize (corn) oil in Eastern Asia, with the volume of exports recording X tons, which was near X% of total exports in 2022. South Korea (X tons) held the second position in the ranking, distantly followed by Japan (X tons). All these countries together held approx. X% share of total exports. The following exporters - Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) - each reached a X% share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, Japan (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) and South Korea (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), Japan (X p.p.) and Taiwan (Chinese) (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (X p.p.) and South Korea (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual growth rate of value in China amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, rising by X% against the previous year. Export price indicated a notable 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 export price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X%. The level of export peaked in 2022 and is likely to see steady 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 Hong Kong SAR ($X per ton), while Japan ($X per ton) was amongst the lowest.

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

Refined Maize Oil Imports

Imports in Eastern Asia

In 2022, refined maize oil imports in Eastern Asia was estimated at X tons, approximately reflecting the previous year. The total import volume increased at an average annual rate of X% 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 2015 with an increase of X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, refined maize oil imports reached $X in 2022. Total imports indicated a temperate increase 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 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Hong Kong SAR represented the key importing country with an import of about X tons, which resulted at X% of total imports. Taiwan (Chinese) (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Macao SAR (X%) and South Korea (X%). Japan (X tons) and China (X tons) followed a long way behind the leaders.

Hong Kong SAR experienced a relatively flat trend pattern with regard to volume of imports of refined maize (corn) oil. At the same time, South Korea (X%), Taiwan (Chinese) (X%) and Japan (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. China and Macao SAR experienced a relatively flat trend pattern. From 2012 to 2022, the share of Taiwan (Chinese) and South Korea increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Hong Kong SAR, refined maize oil imports increased 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: Macao SAR (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform

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