MERCOSUR: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in MERCOSUR

The MERCOSUR refined maize oil market dropped modestly to $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption recorded a noticeable decrease. The most prominent rate of growth was recorded in 2021 when the market value increased by X% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Refined Maize Oil Production in MERCOSUR

In value terms, refined maize oil production contracted slightly to $X in 2022 estimated in export price. Overall, production showed a pronounced decline. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Refined Maize Oil Exports

Exports in MERCOSUR

After two years of growth, overseas shipments of refined maize (corn) oil decreased by X% to X tons in 2022. Over the period under review, exports, however, saw a prominent expansion. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, refined maize oil exports contracted to $X in 2022. In general, exports, however, enjoyed a notable expansion. The pace of growth appeared the most rapid in 2013 when exports increased by X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Paraguay (X tons) and Uruguay (X tons) were the key exporters of refined maize (corn) oil in 2022, accounting for approx. X% and X% of total exports, respectively. It was distantly followed by Argentina (X tons), creating a X% share of total exports. The following exporters - Brazil (X tons) and Colombia (X tons) - together made up X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Uruguay (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Uruguay ($X) remains the largest refined maize oil supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was held by Paraguay ($X), with a X% share of total exports. It was followed by Argentina, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Uruguay amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Paraguay (X% per year) and Argentina (X% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, leveling off at the previous year. Overall, the export price saw a slight setback. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

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

Refined Maize Oil Imports

Imports in MERCOSUR

Refined maize oil imports reduced to X tons in 2022, waning by X% compared with the year before. Over the period under review, imports recorded a abrupt slump. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, refined maize oil imports rose rapidly to $X in 2022. In general, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Brazil represented the key importing country with an import of around X tons, which accounted for X% of total imports. Chile (X tons) ranks second in terms of the total imports with an X% share, followed by Uruguay (X%). The following importers - Ecuador (X tons), Colombia (X tons), Venezuela (X tons) and Peru (X tons) - together made up X% of total imports.

Brazil was also the fastest-growing in terms of the refined maize (corn) oil imports, with a CAGR of X% from 2012 to 2022. At the same time, Colombia (X%) displayed positive paces of growth. Peru and Chile experienced a relatively flat trend pattern. By contrast, Uruguay (X%), Ecuador (X%) and Venezuela (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.), Chile (X p.p.) and Colombia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ecuador (X p.p.) and Venezuela (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported refined maize (corn) oil in MERCOSUR, comprising X% of total imports. The second position in the ranking was held by Chile ($X), with a X% share of total imports. It was followed by Uruguay, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at X%. In the other countries, the average annual rates were as follows: Chile (X% per year) and Uruguay (X% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, growing by X% against the previous year. Import price indicated a strong 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 most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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 Peru ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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