Malaysia: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in Malaysia

The Malaysian refined maize oil market reduced slightly to $X in 2022, falling by X% against the previous year. Over the period under review, the total consumption indicated a slight 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, consumption decreased by X% against 2020 indices. Refined maize oil consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Refined Maize Oil Production in Malaysia

In value terms, refined maize oil production expanded to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Refined maize oil production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

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Refined Maize Oil Exports

Exports from Malaysia

In 2022, overseas shipments of refined maize (corn) oil increased by X% to X tons for the first time since 2016, thus ending a five-year declining trend. Over the period under review, exports posted measured growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined maize oil exports surged to $X in 2022. Overall, exports showed a temperate expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons), Hong Kong SAR (X tons) and Indonesia (X tons) were the main destinations of refined maize oil exports from Malaysia, together comprising X% of total exports. The Philippines, Australia, Bahrain, the United Arab Emirates, Kuwait, Sri Lanka, Maldives and Cambodia lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for refined maize oil exported from Malaysia were Singapore ($X), Indonesia ($X) and Hong Kong SAR ($X), together accounting for X% of total exports. The Philippines, Australia, Bahrain, the United Arab Emirates, Kuwait, Sri Lanka, Maldives and Cambodia lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

The average refined maize oil export price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, export price indicated a measured 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, refined maize oil export price increased by X% against 2015 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 attained the peak figure in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Indonesia ($X per ton) and Maldives ($X per ton), while the average price for exports to Sri Lanka ($X per ton) and the Philippines ($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 Bahrain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Maize Oil Imports

Imports into Malaysia

In 2022, after three years of growth, there was significant decline in purchases abroad of refined maize (corn) oil, when their volume decreased by X% to X tons. Overall, total imports indicated a perceptible expansion from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2021, and then fell markedly in the following year.

In value terms, refined maize oil imports contracted to $X in 2022. Over the period under review, imports, however, showed a strong increase. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

South Korea (X tons), China (X tons) and Japan (X tons) were the main suppliers of refined maize oil imports to Malaysia, 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 Japan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), China ($X) and Japan ($X) appeared to be the largest refined maize oil suppliers to Malaysia, together accounting for X% of total imports.

Among the main suppliers, Japan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

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 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, 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%. The import price peaked in 2022 and is expected to retain growth in the near future.

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

Source: IndexBox Platform

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