Macedonia: Maize Oil Market 2020

Maize Oil Market Size in Macedonia

The revenue of the maize oil market in Macedonia amounted to $X in 2018, going down by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, maize oil consumption continues to indicate a drastic contraction. The most prominent rate of growth was recorded in 2011 with an increase of X% against the previous year. In that year, the maize oil market attained its peak level of $X. From 2012 to 2018, the growth of the maize oil market failed to regain its momentum.

Maize Oil Exports

Exports from Macedonia

In 2018, approx. X kg of maize oil were exported from Macedonia; declining by -X% against the previous year. Overall, maize oil exports continue to indicate a sharp drop. The most prominent rate of growth was recorded in 2018 with a decrease of -X% year-to-year. Over the period under review, maize oil exports attained their peak figure at X tons in 2007; however, from 2008 to 2018, exports failed to regain their momentum.

In value terms, maize oil exports totaled $X in 2018. Overall, maize oil exports continue to indicate a precipitous deduction. The pace of growth was the most pronounced in 2017 when exports decreased by -X% y-o-y. Over the period under review, maize oil exports attained their maximum at $X in 2007; however, from 2008 to 2018, exports remained at a lower figure.

Exports by Country

The U.S. was the major exporter of maize oil exported in the world, with the volume of exports amounting to X tons, which was near X% of total exports in 2018. Turkey (X tons) occupied a X% share (based on tons) of total exports, which put it in second place, followed by Spain (X%). Brazil (X tons), Tunisia (X tons), Canada (X tons), Hungary (X tons), France (X tons), Argentina (X tons), Belgium (X tons), Saudi Arabia (X tons) and South Korea (X tons) followed a long way behind the leaders.

From 2007 to 2018, average annual rates of growth with regard to maize oil exports from the U.S. stood at -X%. At the same time, South Korea (+X%), Turkey (+X%), Spain (+X%), Canada (+X%), Argentina (+X%) and Hungary (+X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in the world, with a CAGR of +X% from 2007-2018. France and Brazil experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-X%), Belgium (-X%) and Tunisia (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of Turkey, Spain and South Korea increased by +X%, +X% and +X% percentage points, while Belgium (-X p.p.), Tunisia (-X p.p.) and the U.S. (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) remains the largest maize oil supplier from Macedonia, comprising X% of global exports. The second position in the ranking was occupied by Saudi Arabia ($X), with a X% share of global exports. It was followed by Turkey, with a X% share.

In the U.S., maize oil exports remained relatively stable over the period from 2007-2018. In the other countries, the average annual rates were as follows: Saudi Arabia (+X% per year) and Turkey (+X% per year).

Export Prices by Country

In 2018, the maize oil export price in Macedonia amounted to $X per ton, remaining stable against the previous year. In general, the maize oil export price continues to indicate a deep deduction. The pace of growth was the most pronounced in 2017 an increase of X% y-o-y. Over the period under review, the export prices for maize oil attained their peak figure at $X per ton in 2007; however, from 2008 to 2018, export prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Saudi Arabia ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Saudi Arabia, while the other leaders experienced more modest paces of growth.

Maize Oil Imports

Imports into Macedonia

In 2018, the amount of maize oil imported into Macedonia amounted to X tons, coming down by -X% against the previous year. Over the period under review, maize oil imports continue to indicate a drastic reduction. The most prominent rate of growth was recorded in 2013 with an increase of X% year-to-year. Over the period under review, maize oil imports attained their peak figure at X tons in 2011; however, from 2012 to 2018, imports remained at a lower figure.

In value terms, maize oil imports totaled $X in 2018. Over the period under review, maize oil imports continue to indicate a sharp downturn. The most prominent rate of growth was recorded in 2011 when imports increased by X% against the previous year. Macedonia imports peaked at $X in 2007; however, from 2008 to 2018, imports remained at a lower figure.

Imports by Country

The imports of the four major importers of maize oil, namely Saudi Arabia, Tunisia, Libya and Kuwait, represented more than third of total import. Egypt (X tons) took a X% share (based on tons) of total imports, which put it in second place, followed by Spain (X%). Turkey (X tons), the U.S. (X tons), the United Arab Emirates (X tons), Oman (X tons), Malaysia (X tons) and Greece (X tons) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Oman, while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest maize oil importing markets into Macedonia were Saudi Arabia ($X), Kuwait ($X) and Libya ($X), together comprising X% of total imports. Tunisia, Egypt, Turkey, the United Arab Emirates, Spain, the U.S., Oman, Greece, Malaysia and Macedonia lagged somewhat behind, together accounting for a further X experienced the highest rates of growth with regard to market size, among the main importing countries over the period under review, while imports for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the maize oil import price in Macedonia amounted to $X per ton, flattening at the previous year. In general, the maize oil import price continues to indicate a deep reduction. The pace of growth was the most pronounced in 2011 an increase of X% y-o-y. Over the period under review, the import prices for maize oil attained their peak figure at $X per ton in 2008; however, from 2009 to 2018, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was the United Arab Emirates ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Egypt, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform