MENA: Crude Maize Oil Market 2024

Crude Maize Oil Market Size in MENA

The MENA's crude maize oil market rose markedly to $X in 2022, picking up by X% against the previous year. Over the period under review, consumption, however, showed a mild decline. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Crude Maize Oil Production in MENA

In value terms, crude maize oil production rose modestly to $X in 2022 estimated in export price. Overall, production recorded a noticeable slump. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Crude Maize Oil Exports

Exports in MENA

After two years of growth, overseas shipments of crude maize (corn) oil decreased by X% to X tons in 2022. Over the period under review, exports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, crude maize oil exports fell rapidly to $X in 2022. In general, exports, however, posted significant growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then fell notably in the following year.

Exports by Country

Turkey prevails in exports structure, reaching X tons, which was near X% of total exports in 2022. It was distantly followed by Egypt (X tons), comprising a X% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the crude maize (corn) oil exports, with a CAGR of X% from 2012 to 2022. At the same time, Egypt (X%) displayed positive paces of growth. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) and Egypt (X p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest crude maize oil supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Egypt ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Egypt (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Egypt ($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 Arab Emirates (X%), while the other leaders experienced mixed trends in the export price figures.

Crude Maize Oil Imports

Imports in MENA

In 2022, imports of crude maize (corn) oil in MENA expanded notably to X tons, growing by X% on the previous year. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, crude maize oil imports totaled $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of crude maize oil imports in 2022 were Kuwait (X tons), Tunisia (X tons) and Saudi Arabia (X tons), together resulting at X% of total import. It was distantly followed by Turkey (X tons) and Egypt (X tons), together constituting an X% share of total imports. The following importers - Oman (X tons) and Qatar (X tons) - together made up X% of total imports.

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

In value terms, the largest crude maize oil importing markets in MENA were Kuwait ($X), Tunisia ($X) and Saudi Arabia ($X), together accounting for X% of total imports. Turkey, Egypt, Qatar and Oman lagged somewhat behind, together accounting for a further X%.

Qatar, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

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 Qatar ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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