United Arab Emirates: Maize Oil Market Overview 2021

Maize Oil Market Size in the United Arab Emirates

The maize oil market in the United Arab Emirates shrank sharply to $X in 2019, which is 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). In general, consumption saw a perceptible curtailment. The pace of growth appeared the most rapid in 2016 when the market value increased by X% against the previous year. As a result, consumption reached the peak level of $X. From 2017 to 2019, the growth of the market failed to regain the momentum.

Maize Oil Exports

Exports from the United Arab Emirates

In 2019, approx. X tonnes of maize oil were exported from the United Arab Emirates; declining by -X% on 2018. In general, exports recorded a abrupt contraction. The growth pace was the most rapid in 2013 with an increase of X% year-to-year. Exports peaked at X tonnes in 2007; however, from 2008 to 2019, exports stood at a somewhat lower figure.

In value terms, maize oil exports shrank to $X in 2019. Overall, exports recorded a deep contraction. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Exports peaked at $X in 2007; however, from 2008 to 2019, exports failed to regain the momentum.

Exports by Country

Kuwait (X tonnes) was the main destination for maize oil exports from the United Arab Emirates, with a X% share of total exports. Moreover, maize oil exports to Kuwait exceeded the volume sent to the second major destination, Pakistan (X tonnes), tenfold. Saudi Arabia (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2019, the average annual growth rate of volume to Kuwait totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+X% per year) and Saudi Arabia (-X% per year).

In value terms, Kuwait ($X) remains the key foreign market for maize oil exports from the United Arab Emirates, comprising X% of total exports. The second position in the ranking was occupied by Pakistan ($X), with a X% share of total exports. It was followed by Saudi Arabia, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value to Kuwait amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+X% per year) and Saudi Arabia (-X% per year).

Export Prices by Country

The average maize oil export price stood at $X per tonne in 2019, growing by X% against the previous year. In general, export price indicated a notable expansion from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, maize oil export price increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% y-o-y. As a result, export price reached the peak level of $X per tonne. From 2014 to 2019, the growth in terms of the average export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2019, the countries with the highest prices were Kuwait ($X per tonne) and Pakistan ($X per tonne), while the average price for exports to Jordan ($X per tonne) and Saudi Arabia ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan, while the prices for the other major destinations experienced more modest paces of growth.

Maize Oil Imports

Imports into the United Arab Emirates

In 2019, the amount of maize oil imported into the United Arab Emirates dropped sharply to X tonnes, declining by -X% compared with the year before. In general, imports saw a abrupt setback. The growth pace was the most rapid in 2016 with an increase of X% y-o-y. Imports peaked at X tonnes in 2007; however, from 2008 to 2019, imports remained at a lower figure.

In value terms, maize oil imports fell dramatically to $X in 2019. Overall, imports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2008; however, from 2009 to 2019, imports remained at a lower figure.

Imports by Country

In 2019, the U.S. (X tonnes) constituted the largest maize oil supplier to the United Arab Emirates, with a X% share of total imports. Moreover, maize oil imports from the U.S. exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tonnes), threefold. South Korea (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from the U.S. totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (-X% per year) and South Korea (+X% per year).

In value terms, the largest maize oil suppliers to the United Arab Emirates were Saudi Arabia ($X), the U.S. ($X) and South Korea ($X), with a combined X% share of total imports. Turkey and Belgium lagged somewhat behind, together accounting for a further X the main suppliers, Belgium saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average maize oil import price stood at $X per tonne in 2019, picking up by X% against the previous year. Over the last twelve years, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% year-to-year. Over the period under review, average import prices hit record highs at $X per tonne in 2011; however, from 2012 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Saudi Arabia ($X per tonne), while the price for South Korea ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Saudi Arabia, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for maize oil in the world?

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The U.S. (1.5M tonnes) constituted the country with the largest volume of maize oil consumption, comprising approx. 44% of total volume. Moreover, maize oil consumption in the U.S. exceeded the figures recorded by the second-largest consumer, China (513K tonnes), threefold. Brazil (125K tonnes) ranked third in terms of total consumption with a 3.6% share.

What are the largest producers of maize oil in the world?

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The country with the largest volume of maize oil production was the U.S. (1.8M tonnes), accounting for 51% of total volume. Moreover, maize oil production in the U.S. exceeded the figures recorded by the second-largest producer, China (523K tonnes), threefold. The third position in this ranking was occupied by Brazil (136K tonnes), with a 3.9% share.

What are the leading suppliers of maize oil to the United Arab Emirates?

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In value terms, the largest maize oil suppliers to the United Arab Emirates were Saudi Arabia ($14M), the U.S. ($12M) and South Korea ($3.2M), together comprising 89% of total imports. Turkey and Belgium lagged somewhat behind, together accounting for a further 10%.

What are the leading importers of maize oil from the United Arab Emirates?

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In value terms, Kuwait ($8.6M) remains the key foreign market for maize oil exports from the United Arab Emirates, comprising 85% of total exports. The second position in the ranking was occupied by Pakistan ($816K), with a 8% share of total exports. It was followed by Saudi Arabia, with a 3.8% share.

What is the average export price for maize oil in the United Arab Emirates?

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The average maize oil export price stood at $1,726 per tonne in 2019, with an increase of 9.3% against the previous year.

What is the average import price for maize oil in the United Arab Emirates?

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In 2019, the average maize oil import price amounted to $1,317 per tonne, increasing by 4% against the previous year.