EU: Crude Maize Oil Market 2023

Crude Maize Oil Market Size in the EU

In 2021, the EU crude maize oil market increased by 2% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, continues to indicate a noticeable slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Crude Maize Oil Production in the EU

In value terms, crude maize oil production reduced to $X in 2021 estimated in export price. In general, production saw a pronounced descent. The pace of growth was the most pronounced in 2020 when the production volume increased by 12%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Crude Maize Oil Exports

Exports in the EU

In 2021, shipments abroad of crude maize (corn) oil decreased by -30.7% to X tons, falling for the second year in a row after two years of growth. Overall, exports recorded a abrupt slump. The pace of growth was the most pronounced in 2019 when exports increased by 19% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, crude maize oil exports expanded rapidly to $X in 2021. In general, exports saw a abrupt slump. The pace of growth appeared the most rapid in 2016 with an increase of 18%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Hungary (X tons) was the main exporter of crude maize (corn) oil, constituting 52% of total exports. France (X tons) took the second position in the ranking, followed by Italy (X tons) and Poland (X tons). All these countries together held near 38% share of total exports. The Netherlands (X tons), Spain (X tons) and Bulgaria (X tons) followed a long way behind the leaders.

Exports from Hungary decreased at an average annual rate of -3.7% from 2012 to 2021. At the same time, Poland (+308.1%), the Netherlands (+35.8%) and Italy (+24.4%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +308.1% from 2012-2021. By contrast, France (-2.3%), Bulgaria (-3.5%) and Spain (-8.7%) illustrated a downward trend over the same period. Italy (+11 p.p.), Hungary (+11 p.p.), Poland (+8.3 p.p.), France (+5.3 p.p.) and the Netherlands (+3 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hungary ($X) remains the largest crude maize oil supplier in the European Union, comprising 51% of total exports. The second position in the ranking was held by France ($X), with an 18% share of total exports. It was followed by Italy, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Hungary totaled -4.2%. The remaining exporting countries recorded the following average annual rates of exports growth: France (-1.8% per year) and Italy (+16.4% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, with an increase of 54% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Bulgaria ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+2.5%), while the other leaders experienced mixed trends in the export price figures.

Crude Maize Oil Imports

Imports in the EU

In 2021, supplies from abroad of crude maize (corn) oil decreased by -17.9% to X tons, falling for the fifth consecutive year after two years of growth. In general, imports saw a deep downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 51% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, crude maize oil imports amounted to $X in 2021. Overall, imports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 when imports increased by 39% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Spain (X tons) was the major importer of crude maize (corn) oil, creating 32% of total imports. Belgium (X tons) ranks second in terms of the total imports with a 16% share, followed by Greece (14%), Poland (8.7%), Austria (5.5%) and the Netherlands (5%). France (X tons) took a relatively small share of total imports.

Imports into Spain decreased at an average annual rate of -16.6% from 2012 to 2021. At the same time, Poland (+69.3%), the Netherlands (+27.1%) and France (+4.9%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the European Union, with a CAGR of +69.3% from 2012-2021. By contrast, Greece (-5.7%), Austria (-9.1%) and Belgium (-9.5%) illustrated a downward trend over the same period. While the share of Poland (+8.7 p.p.), Greece (+7.7 p.p.), Belgium (+5 p.p.), the Netherlands (+4.9 p.p.), France (+3.2 p.p.) and Austria (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Spain (-13.7 p.p.) displayed negative dynamics.

In value terms, Spain ($X), Greece ($X) and Belgium ($X) were the countries with the highest levels of imports in 2021, with a combined 63% share of total imports. Poland, Austria, France and the Netherlands lagged somewhat behind, together comprising a further 22%.

Poland, with a CAGR of +54.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, increasing by 33% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was France ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+2.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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