GCC: Crude Maize Oil Market 2024

Crude Maize Oil Market Size in GCC

The GCC crude maize oil market declined modestly to $X in 2022, reducing by X% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then reduced slightly in the following year.

Crude Maize Oil Production in GCC

In value terms, crude maize oil production expanded slightly to $X in 2022 estimated in export price. The total production indicated a resilient 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, production increased by X% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Crude Maize Oil Exports

Exports in GCC

In 2022, after two years of growth, there was significant decline in overseas shipments of crude maize (corn) oil, when their volume decreased by X% to X tons. In general, exports showed a deep contraction. The growth pace was the most rapid 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, crude maize oil exports contracted significantly to $X in 2022. Over the period under review, exports showed a abrupt setback. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates prevails in exports structure, resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by Oman (X tons), committing a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to crude maize oil exports from the United Arab Emirates stood at X%. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. The United Arab Emirates (X p.p.) and Oman (X 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, the United Arab Emirates ($X) remains the largest crude maize oil supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Oman ($X), with a X% share of total exports.

In the United Arab Emirates, crude maize oil exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, jumping by X% against the previous year. Export price indicated a noticeable 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, crude maize oil export price decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the export prices remained at a somewhat lower figure.

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

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

Crude Maize Oil Imports

Imports in GCC

In 2022, purchases abroad of crude maize (corn) oil increased by X% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, crude maize oil imports dropped to $X in 2022. Total imports indicated noticeable growth 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 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

Kuwait (X tons) and Saudi Arabia (X tons) prevails in imports structure, together making up X% of total imports. It was distantly followed by Oman (X tons), making up a X% share of total imports. Qatar (X tons) and the United Arab Emirates (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Kuwait ($X), Saudi Arabia ($X) and Qatar ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Qatar, with a CAGR of X%, saw the highest growth rate of 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

The import price in GCC stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

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 Qatar ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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