U.S.: Crude Maize Oil Market 2023

Crude Maize Oil Market Size in the U.S.

In 2021, the U.S. crude maize oil market decreased by -2% to $X for the first time since 2013, thus ending a seven-year rising trend. In general, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +77.8% against 2013 indices. Over the period under review, the market attained the peak level at $X in 2020, and then declined modestly in the following year.

Crude Maize Oil Production in the U.S.

In value terms, crude maize oil production reduced to $X in 2021. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 16%. Over the period under review, production attained the peak level at $X in 2020, and then fell in the following year.

Crude Maize Oil Exports

Exports from the U.S.

In 2021, crude maize oil exports from the United States reduced rapidly to X tons, waning by -25.4% compared with the previous year. In general, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2015 with an increase of 35%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, crude maize oil exports soared to $X in 2021. Overall, exports recorded a deep reduction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for crude maize oil exports from the United States, accounting for a 51% share of total exports. Moreover, crude maize oil exports to Saudi Arabia exceeded the volume sent to the second major destination, Egypt (X tons), threefold. The third position in this ranking was taken by Qatar (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Saudi Arabia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (-7.9% per year) and Qatar (+111.7% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for crude maize oil exports from the United States, comprising 51% of total exports. The second position in the ranking was taken by Egypt ($X), with a 22% share of total exports. It was followed by Qatar, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Saudi Arabia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (-6.0% per year) and Qatar (+181.8% per year).

Export Prices by Country

The average crude maize oil export price stood at $X per ton in 2021, with an increase of 64% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Egypt ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+33.1%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Maize Oil Imports

Imports into the U.S.

Crude maize oil imports into the United States soared to X tons in 2021, increasing by 34% on 2020 figures. Over the period under review, imports enjoyed a resilient expansion. The growth pace was the most rapid in 2016 when imports increased by 128%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, crude maize oil imports skyrocketed to $X in 2021. In general, imports saw a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 114%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Canada (X tons) was the main crude maize oil supplier to the United States, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Canada totaled +18.2%.

In value terms, Canada ($X) constituted the largest supplier of crude maize oil to the United States.

From 2012 to 2021, the average annual growth rate of value from Canada stood at +21.2%.

Import Prices by Country

In 2021, the average crude maize oil import price amounted to $X per ton, increasing by 38% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Canada.

From 2012 to 2021, the rate of growth in terms of prices for Canada amounted to +2.5% per year.

Source: IndexBox Market Intelligence Platform

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