Eastern Europe: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in Eastern Europe

The East European refined maize oil market fell to $X in 2022, remaining constant against the previous year. Over the period under review, consumption recorded a noticeable shrinkage. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Refined Maize Oil Production in Eastern Europe

In value terms, refined maize oil production fell slightly to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible decline. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Refined Maize Oil Exports

Exports in Eastern Europe

In 2022, shipments abroad of refined maize (corn) oil increased by X% to X tons, rising for the third consecutive year after three years of decline. Overall, exports showed a buoyant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, refined maize oil exports skyrocketed to $X in 2022. In general, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

Russia was the key exporting country with an export of around X tons, which amounted to X% of total exports. It was distantly followed by Poland (X tons), creating a X% share of total exports. Romania (X tons) and Ukraine (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Romania (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the largest refined maize oil supplier in Eastern Europe, comprising X% of total exports. The second position in the ranking was held by Poland ($X), with a X% share of total exports. It was followed by Romania, with a X% share.

In Russia, refined maize oil exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (X% per year) and Romania (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. 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 Russia ($X per ton), while Poland ($X per ton) was amongst the lowest.

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

Refined Maize Oil Imports

Imports in Eastern Europe

Refined maize oil imports skyrocketed to X tons in 2022, jumping by X% on the previous year's figure. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, refined maize oil imports surged to $X in 2022. Over the period under review, imports saw a modest increase. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Romania (X tons) was the largest importer of refined maize (corn) oil, mixing up X% of total imports. It was distantly followed by Belarus (X tons), Hungary (X tons) and Poland (X tons), together making up a X% share of total imports. Estonia (X tons), Latvia (X tons) and the Czech Republic (X tons) followed a long way behind the leaders.

Romania was also the fastest-growing in terms of the refined maize (corn) oil imports, with a CAGR of X% from 2012 to 2022. At the same time, Estonia (X%), Belarus (X%), Latvia (X%) and Hungary (X%) displayed positive paces of growth. By contrast, the Czech Republic (X%) and Poland (X%) illustrated a downward trend over the same period. Romania (X p.p.), Belarus (X p.p.), Hungary (X p.p.) and Estonia (X p.p.) significantly strengthened its position in terms of the total imports, while Poland saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Romania ($X) constitutes the largest market for imported refined maize (corn) oil in Eastern Europe, comprising X% of total imports. The second position in the ranking was taken by Poland ($X), with an X% share of total imports. It was followed by Hungary, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Romania amounted to X%. In the other countries, the average annual rates were as follows: Poland (X% per year) and Hungary (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, remaining constant against the previous year. Import price indicated a moderate 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 2020 indices. The pace of growth was the most pronounced in 2016 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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 the Czech Republic ($X per ton), while Belarus ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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