Oman: Crude Maize Oil Market 2024

Crude Maize Oil Market Size in Oman

After four years of decline, the Omani crude maize oil market increased by X% to $X in 2022. Overall, consumption saw a measured increase. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Crude Maize Oil Production in Oman

In value terms, crude maize oil production rose modestly to $X in 2022 estimated in export price. In general, the total production indicated a prominent 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Crude Maize Oil Exports

Exports from Oman

Crude maize oil exports from Oman was estimated at X tons in 2022, stabilizing at 2021. The total export volume increased at an average annual rate of X% from 2021 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, crude maize oil exports declined dramatically to $X in 2022. Overall, exports, however, faced a precipitous slump. The exports peaked at $X in 2021, and then reduced sharply in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for crude maize oil exports from Oman, with a X% share of total exports. Moreover, crude maize oil exports to the United Arab Emirates exceeded the volume sent to the second major destination, Iran (X tons), threefold.

From 2021 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates was relatively modest.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for crude maize (corn) oil exports from Oman, comprising X% of total exports. The second position in the ranking was taken by Iran ($X), with a X% share of total exports.

From 2021 to 2022, the average annual growth rate of value to the United Arab Emirates was relatively modest.

Export Prices by Country

The average crude maize oil export price stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price saw a precipitous decrease. The export price peaked at $X per ton in 2021, and then reduced sharply in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Iran amounted to $X per ton.

From 2021 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Maize Oil Imports

Imports into Oman

In 2022, after three years of decline, there was significant growth in overseas purchases of crude maize (corn) oil, when their volume increased by X% to X tons. Over the period under review, imports recorded a mild expansion. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, crude maize oil imports surged to $X in 2022. In general, imports enjoyed measured growth. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Argentina (X tons) constituted the largest supplier of crude maize oil to Oman, with a X% share of total imports. Moreover, crude maize oil imports from Argentina exceeded the figures recorded by the second-largest supplier, South Korea (X tons), sixfold. Italy (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Argentina was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Italy (X% per year).

In value terms, Argentina ($X) constituted the largest supplier of crude maize (corn) oil to Oman, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Argentina was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Italy (X% per year).

Import Prices by Country

In 2022, the average crude maize oil import price amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price, however, continues to indicate a slight expansion. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Argentina ($X per ton) and Saudi Arabia ($X per ton), while the price for Italy ($X per ton) and China ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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