Hungary: Crude Maize Oil Market 2024

Crude Maize Oil Market Size in Hungary

The Hungarian crude maize oil market dropped significantly to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption, however, posted a significant expansion. Crude maize oil consumption peaked at $X in 2021, and then declined dramatically in the following year.

Crude Maize Oil Production in Hungary

In value terms, crude maize oil production stood at $X in 2022 estimated in export price. Overall, production, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2016 with an increase of X%. Crude maize oil production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Crude Maize Oil Exports

Exports from Hungary

In 2022, the amount of crude maize (corn) oil exported from Hungary skyrocketed to X tons, growing by X% compared with 2021. In general, exports, however, showed a slight reduction. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, crude maize oil exports surged to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Greece (X tons), Belgium (X tons) and Poland (X tons) were the main destinations of crude maize oil exports from Hungary, with a combined X% share of total exports. The Netherlands, Bosnia and Herzegovina, Saudi Arabia, Austria, Morocco, Sweden and Italy lagged somewhat behind, together accounting for a further X%.

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

In value terms, Greece ($X), Belgium ($X) and Poland ($X) were the largest markets for crude maize oil exported from Hungary worldwide, together accounting for X% of total exports. Saudi Arabia, the Netherlands, Bosnia and Herzegovina, Morocco, Sweden, Austria and Italy lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, the Netherlands, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average crude maize oil export price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, export price indicated a modest expansion 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 increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Morocco ($X per ton) and Greece ($X per ton), while the average price for exports to Austria ($X per ton) and the Netherlands ($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 the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Maize Oil Imports

Imports into Hungary

Crude maize oil imports into Hungary declined to X tons in 2022, waning by X% on the previous year's figure. Over the period under review, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, crude maize oil imports dropped remarkably to $X in 2022. Overall, imports continue to indicate a abrupt decline. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Romania (X tons), the United States (X tons) and the Netherlands (X kg) were the main suppliers of crude maize oil imports to Hungary.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, the largest crude maize oil suppliers to Hungary were the United States ($X), Romania ($X) and the Netherlands ($X).

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

Import Prices by Country

The average crude maize oil import price stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Romania ($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 Netherlands (X.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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