Vietnam: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in Vietnam

The Vietnamese refined maize oil market reduced to $X in 2022, waning by X% against the previous year. In general, consumption continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2021 when the market value increased by X%. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Refined Maize Oil Production in Vietnam

In value terms, refined maize oil production fell slightly to $X in 2022 estimated in export price. In general, production faced a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. Refined maize oil production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Refined Maize Oil Exports

Exports from Vietnam

After two years of growth, shipments abroad of refined maize (corn) oil decreased by X% to X kg in 2022. In general, exports faced a precipitous shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then reduced markedly in the following year.

In value terms, refined maize oil exports reduced rapidly to $X in 2022. Overall, exports faced a sharp setback. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Bahrain (X kg) was the main destination for refined maize oil exports from Vietnam, with a approx. X% share of total exports.

From 2013 to 2022, the average annual growth rate of volume to Bahrain was relatively modest.

In value terms, Bahrain ($X) emerged as the key foreign market for refined maize (corn) oil exports from Vietnam.

From 2013 to 2022, the average annual growth rate of value to Bahrain was relatively modest.

Export Prices by Country

In 2022, the average refined maize oil export price amounted to $X per ton, rising by X% against the previous year. In general, the export price enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Bahrain.

From 2013 to 2022, the rate of growth in terms of prices for Honduras amounted to X% per year.

Refined Maize Oil Imports

Imports into Vietnam

Refined maize oil imports into Vietnam contracted to X tons in 2022, with a decrease of X% on 2021. Overall, imports recorded a deep reduction. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, refined maize oil imports expanded notably to $X in 2022. In general, imports recorded a perceptible reduction. 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 maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest refined maize oil supplier to Vietnam, with a X% share of total imports. Moreover, refined maize oil imports from the United States exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), threefold. Sweden (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and Sweden (X% per year).

In value terms, the United States ($X) constituted the largest supplier of refined maize (corn) oil to Vietnam, comprising X% of total imports. The second position in the ranking was held by New Zealand ($X), with a X% share of total imports. It was followed by Sweden, with an X% share.

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

Import Prices by Country

In 2022, the average refined maize oil import price amounted to $X per ton, rising by X% against the previous year. Over the period under review, import price indicated tangible growth 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 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($X per ton) and the United States ($X per ton), while the price for China ($X per ton) and Sweden ($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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