Greece: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in Greece

The Greek refined maize oil market totaled $X in 2022, picking up by X% against the previous year. Over the period under review, consumption, however, recorded a deep slump. Refined maize oil consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Refined Maize Oil Production in Greece

In value terms, refined maize oil production stood at $X in 2022 estimated in export price. Overall, production, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Refined Maize Oil Exports

Exports from Greece

In 2022, after two years of decline, there was significant growth in shipments abroad of refined maize (corn) oil, when their volume increased by X% to X tons. Overall, exports recorded resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, refined maize oil exports surged to $X in 2022. Over the period under review, exports enjoyed a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Romania (X tons) was the main destination for refined maize oil exports from Greece, accounting for a X% share of total exports. Moreover, refined maize oil exports to Romania exceeded the volume sent to the second major destination, Albania (X tons), more than tenfold. The third position in this ranking was taken by Iraq (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Romania stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (X% per year) and Iraq (X% per year).

In value terms, Romania ($X) emerged as the key foreign market for refined maize (corn) oil exports from Greece, comprising X% of total exports. The second position in the ranking was taken by Albania ($X), with a X% share of total exports. It was followed by Cyprus, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Romania stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (X% per year) and Cyprus (X% per year).

Export Prices by Country

In 2022, the average refined maize oil export price amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2020 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Cyprus ($X per ton) and Albania ($X per ton), while the average price for exports to Romania ($X per ton) and Iraq ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Maize Oil Imports

Imports into Greece

In 2022, after six years of decline, there was significant growth in supplies from abroad of refined maize (corn) oil, when their volume increased by X% to X tons. Over the period under review, imports, however, recorded a abrupt slump. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, refined maize oil imports soared to $X in 2022. In general, imports, however, recorded a pronounced decrease. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Belgium (X tons), Italy (X tons) and France (X tons) were the main suppliers of refined maize oil imports to Greece, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of X%), while imports for the other leaders experienced a decline.

In value terms, the largest refined maize oil suppliers to Greece were Belgium ($X), Italy ($X) and France ($X), together accounting for X% of total imports.

Belgium, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average refined maize oil import price amounted to $X per ton, picking up by X% against the previous year. In general, import price indicated pronounced growth 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 2019 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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