Australia and Oceania: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in Australia and Oceania

The refined maize oil market in Australia and Oceania stood at $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Refined Maize Oil Production in Australia and Oceania

In value terms, refined maize oil production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Refined Maize Oil Exports

Exports in Australia and Oceania

In 2022, shipments abroad of refined maize (corn) oil decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports recorded a abrupt setback. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined maize oil exports contracted sharply to $X in 2022. In general, exports saw a deep setback. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, New Zealand (X tons) was the major exporter of refined maize (corn) oil in Australia and Oceania, committing X% of total export.

New Zealand was also the fastest-growing in terms of the refined maize (corn) oil exports, with a CAGR of X% from 2012 to 2022. New Zealand (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, New Zealand ($X) also remains the largest refined maize oil supplier in Australia and Oceania.

In New Zealand, refined maize oil exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, with an increase of X% against the previous year. Export price indicated slight 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 export price increased by X% against 2016 indices. The growth pace was the most rapid in 2017 an increase of X%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for New Zealand amounted to X% per year.

Refined Maize Oil Imports

Imports in Australia and Oceania

In 2022, refined maize oil imports in Australia and Oceania declined significantly to X tons, dropping by X% on 2021 figures. Over the period under review, imports saw a deep setback. The pace of growth was the most pronounced in 2019 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, refined maize oil imports reached $X in 2022. Overall, imports saw a drastic downturn. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Australia prevails in imports structure, amounting to X tons, which was approx. X% of total imports in 2022. It was distantly followed by New Zealand (X tons), constituting a X% share of total imports. The following importers - Fiji (X tons) and Papua New Guinea (X tons) - each resulted at a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to refined maize oil imports into Australia stood at X%. At the same time, Papua New Guinea (X%) displayed positive paces of growth. Moreover, Papua New Guinea emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of X% from 2012-2022. By contrast, New Zealand (X%) and Fiji (X%) illustrated a downward trend over the same period. While the share of New Zealand (X p.p.) and Papua New Guinea (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Australia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported refined maize (corn) oil in Australia and Oceania, comprising X% of total imports. The second position in the ranking was taken by New Zealand ($X), with a X% share of total imports. It was followed by Fiji, with a X% share.

In Australia, refined maize oil imports plunged by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and Fiji (X% per year).

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, growing by X% against the previous year. Import price indicated a pronounced expansion 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. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was New Zealand ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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