Malaysia: Maize Oil Market Overview 2021

Maize Oil Market Size in Malaysia

In 2019, the Malaysian maize oil market decreased by -X% to $X, falling for the second consecutive year after four years of growth. In general, consumption recorded a abrupt decrease. The growth pace was the most rapid in 2008 when the market value increased by X% year-to-year. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2019, consumption stood at a somewhat lower figure.

Maize Oil Exports

Exports from Malaysia

In 2019, after two years of decline, there was significant growth in shipments abroad of maize oil, when their volume increased by X% to X tonnes. Over the period under review, exports enjoyed a buoyant expansion. As a result, exports reached the peak and are likely to continue growth in the immediate term.

In value terms, maize oil exports surged to $X in 2019. Overall, exports posted a prominent expansion. As a result, exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X tonnes) was the main destination for maize oil exports from Malaysia, with a X% share of total exports. Moreover, maize oil exports to Singapore exceeded the volume sent to the second major destination, the Philippines (X tonnes), ninefold. Indonesia (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2019, the average annual growth rate of volume to Singapore stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+X% per year) and Indonesia (+X% per year).

In value terms, Singapore ($X) remains the key foreign market for maize oil exports from Malaysia, comprising X% of total exports. The second position in the ranking was occupied by the Philippines ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value to Singapore amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+X% per year) and Indonesia (+X% per year).

Export Prices by Country

The average maize oil export price stood at $X per tonne in 2019, which is down by -X% against the previous year. Overall, the export price saw a slight shrinkage. The most prominent rate of growth was recorded in 2008 when the average export price increased by X% y-o-y. Over the period under review, average export prices reached the peak figure at $X per tonne in 2011; however, from 2012 to 2019, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2019, the country with the highest price was Indonesia ($X per tonne), while the average price for exports to Singapore ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain, while the prices for the other major destinations experienced more modest paces of growth.

Maize Oil Imports

Imports into Malaysia

In 2019, purchases abroad of maize oil decreased by -X% to X tonnes, falling for the second year in a row after four years of growth. In general, imports, however, showed a resilient increase. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tonnes in 2017; however, from 2018 to 2019, imports stood at a somewhat lower figure.

In value terms, maize oil imports declined to $X in 2019. Over the period under review, imports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2011 when imports increased by X% year-to-year. Imports peaked at $X in 2017; however, from 2018 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, the U.S. (X tonnes) constituted the largest supplier of maize oil to Malaysia, accounting for a X% share of total imports. Moreover, maize oil imports from the U.S. exceeded the figures recorded by the second-largest supplier, South Korea (X tonnes), twofold. The third position in this ranking was occupied by Japan (X tonnes), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from the U.S. stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+X% per year) and Japan (+X% per year).

In value terms, the U.S. ($X), South Korea ($X) and Taiwan (Chinese) ($X) constituted the largest maize oil suppliers to Malaysia, together comprising X% of total imports.

South Korea (+X% per year) recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the average maize oil import price amounted to $X per tonne, growing by X% against the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2011 an increase of X% year-to-year. Over the period under review, average import prices attained the maximum at $X per tonne in 2015; however, from 2016 to 2019, import prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was South Korea ($X per tonne), while the price for Singapore ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Singapore, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for maize oil in the world?

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The country with the largest volume of maize oil consumption was the U.S. (1.5M tonnes), accounting for 44% of total volume. Moreover, maize oil consumption in the U.S. exceeded the figures recorded by the second-largest consumer, China (513K tonnes), threefold. Brazil (125K tonnes) ranked third in terms of total consumption with a 3.6% share.

What are the largest producers of maize oil in the world?

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The country with the largest volume of maize oil production was the U.S. (1.8M tonnes), comprising approx. 51% of total volume. Moreover, maize oil production in the U.S. exceeded the figures recorded by the second-largest producer, China (523K tonnes), threefold. The third position in this ranking was occupied by Brazil (136K tonnes), with a 3.9% share.

What are the leading suppliers of maize oil to Malaysia?

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In value terms, the largest maize oil suppliers to Malaysia were the U.S. ($8.3M), South Korea ($4.9M) and Taiwan (Chinese) ($1.9M), together comprising 81% of total imports.

What are the leading importers of maize oil from Malaysia?

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In value terms, Singapore ($11M) remains the key foreign market for maize oil exports from Malaysia, comprising 60% of total exports. The second position in the ranking was occupied by the Philippines ($2.5M), with a 13% share of total exports. It was followed by Indonesia, with a 7.3% share.

What is the average export price for maize oil in Malaysia?

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The average maize oil export price stood at $928 per tonne in 2019, dropping by -30.5% against the previous year.

What is the average import price for maize oil in Malaysia?

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The average maize oil import price stood at $856 per tonne in 2019, increasing by 12% against the previous year.