United Kingdom: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in the UK

In 2022, the UK refined maize oil market increased by X% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, continues to indicate a abrupt decrease. Refined maize oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Refined Maize Oil Production in the UK

In value terms, refined maize oil production fell to $X in 2022 estimated in export price. Overall, production showed a abrupt downturn. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Refined Maize Oil Exports

Exports from the UK

In 2022, shipments abroad of refined maize (corn) oil decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, refined maize oil exports fell rapidly to $X in 2022. Overall, exports showed a precipitous curtailment. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Norway (X tons) was the main destination for refined maize oil exports from the UK, accounting for a X% share of total exports. Moreover, refined maize oil exports to Norway exceeded the volume sent to the second major destination, Ireland (X tons), twofold. The third position in this ranking was taken by Hong Kong SAR (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Norway totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (X% per year) and Hong Kong SAR (X% per year).

In value terms, Norway ($X), Singapore ($X) and Hong Kong SAR ($X) constituted the largest markets for refined maize oil exported from the UK worldwide, with a combined X% share of total exports.

Singapore, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average refined maize oil export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Maize Oil Imports

Imports into the UK

In 2022, purchases abroad of refined maize (corn) oil was finally on the rise to reach X tons after two years of decline. Overall, total imports indicated a noticeable expansion from 2012 to 2022: its volume 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. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, refined maize oil imports surged to $X in 2022. In general, imports continue to indicate a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of refined maize oil to the UK, accounting for a X% share of total imports. Moreover, refined maize oil imports from Belgium exceeded the figures recorded by the second-largest supplier, Sweden (X tons), fourfold. France (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (X% per year) and France (X% per year).

In value terms, Belgium ($X) constituted the largest supplier of refined maize (corn) oil to the UK, comprising X% of total imports. The second position in the ranking was taken by Sweden ($X), with a X% share of total imports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Belgium totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (X% per year) and France (X% per year).

Import Prices by Country

The average refined maize oil import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, import price indicated a notable increase from 2012 to 2022: its price 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, refined maize oil import price increased by X% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Belgium ($X per ton) and Sweden ($X per ton), while the price for Italy ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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