Southern Asia: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in Southern Asia

The South Asian refined maize oil market fell to $X in 2022, shrinking by X% against the previous year. The total consumption indicated pronounced growth from 2012 to 2022: its value 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, consumption increased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Refined Maize Oil Production in Southern Asia

In value terms, refined maize oil production shrank to $X in 2022 estimated in export price. The total production indicated a notable expansion from 2012 to 2022: its value 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Refined Maize Oil Exports

Exports in Southern Asia

In 2022, overseas shipments of refined maize (corn) oil decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, posted a buoyant expansion. The growth pace was the most rapid 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 failed to regain momentum.

In value terms, refined maize oil exports soared to $X in 2022. In general, exports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Pakistan represented the key exporting country with an export of around X tons, which recorded X% of total exports. It was distantly followed by India (X tons), making up a X% share of total exports.

Pakistan was also the fastest-growing in terms of the refined maize (corn) oil exports, with a CAGR of X% from 2012 to 2022. India (X%) illustrated a downward trend over the same period. While the share of Pakistan (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of India (X p.p.) displayed negative dynamics.

In value terms, Pakistan ($X) and India ($X) were the countries with the highest levels of exports in 2022.

Pakistan, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, growing by X% against the previous year. In general, the export price posted measured growth. The most prominent rate of growth was recorded in 2017 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%).

Refined Maize Oil Imports

Imports in Southern Asia

In 2022, approx. X tons of refined maize (corn) oil were imported in Southern Asia; declining by X% on 2021. Over the period under review, imports recorded a noticeable setback. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, refined maize oil imports fell significantly to $X in 2022. In general, imports showed a perceptible reduction. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Afghanistan (X tons) was the main importer of refined maize (corn) oil, making up X% of total imports. Pakistan (X tons) held the second position in the ranking, followed by Maldives (X tons), Sri Lanka (X tons) and Nepal (X tons). All these countries together held near X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to refined maize oil imports into Afghanistan stood at X%. At the same time, Pakistan (X%), Maldives (X%) and Nepal (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. Sri Lanka experienced a relatively flat trend pattern. While the share of Pakistan (X p.p.), Maldives (X p.p.), Nepal (X p.p.) and Sri Lanka (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Afghanistan (X p.p.) displayed negative dynamics.

In value terms, Afghanistan ($X) constitutes the largest market for imported refined maize (corn) oil in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Pakistan ($X), with an X% share of total imports. It was followed by Maldives, with a X% share.

In Afghanistan, refined maize oil imports shrank 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: Pakistan (X% per year) and Maldives (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nepal ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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