Eastern Europe: Crude Maize Oil Market 2024

Crude Maize Oil Market Size in Eastern Europe

After four years of growth, the East European crude maize oil market decreased by X% to $X in 2023. Over the period under review, consumption continues to indicate a measured increase. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market remained at a lower figure.

Crude Maize Oil Production in Eastern Europe

In value terms, crude maize oil production reduced to $X in 2023 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, production reached the peak level of $X. From 2017 to 2023, production growth remained at a somewhat lower figure.

Crude Maize Oil Exports

Exports in Eastern Europe

For the fourth consecutive year, Eastern Europe recorded decline in overseas shipments of crude maize (corn) oil, which decreased by X% to X tons in 2023. Over the period under review, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2019 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2020 to 2023, the growth of the exports remained at a lower figure.

In value terms, crude maize oil exports reduced remarkably to $X in 2023. Overall, exports recorded a deep slump. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Hungary prevails in exports structure, reaching X tons, which was near X% of total exports in 2023. It was distantly followed by Poland (X tons), Slovakia (X tons), the Czech Republic (X tons) and Russia (X tons), together mixing up a X% share of total exports.

Exports from Hungary decreased at an average annual rate of X% from 2012 to 2023. At the same time, Poland (X%), the Czech Republic (X%) and Slovakia (X%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of X% from 2012-2023. Russia experienced a relatively flat trend pattern. Poland (X p.p.), Slovakia (X p.p.), the Czech Republic (X p.p.) and Russia (X p.p.) significantly strengthened its position in terms of the total exports, while Hungary saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Hungary ($X) remains the largest crude maize oil supplier in Eastern Europe, comprising X% of total exports. The second position in the ranking was taken by Poland ($X), with a X% share of total exports. It was followed by Slovakia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Hungary amounted to X%. In the other countries, the average annual rates were as follows: Poland (X% per year) and Slovakia (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Europe amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price recorded a slight decrease. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2022, and then shrank significantly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Slovakia (X%), while the other leaders experienced a decline in the export price figures.

Crude Maize Oil Imports

Imports in Eastern Europe

In 2023, supplies from abroad of crude maize (corn) oil decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, recorded temperate growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, imports attained the peak of X tons. From 2018 to 2023, the growth of imports failed to regain momentum.

In value terms, crude maize oil imports declined markedly to $X in 2023. In general, imports, however, showed pronounced growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Poland represented the major importer of crude maize (corn) oil in Eastern Europe, with the volume of imports amounting to X tons, which was near X% of total imports in 2023. Slovakia (X tons) held the second position in the ranking, followed by the Czech Republic (X tons). All these countries together took near X% share of total imports. Belarus (X tons) took a little share of total imports.

Imports into Poland increased at an average annual rate of X% from 2012 to 2023. At the same time, the Czech Republic (X%), Slovakia (X%) and Belarus (X%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2023. While the share of Poland (X p.p.), Slovakia (X p.p.) and the Czech Republic (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported crude maize (corn) oil in Eastern Europe, comprising X% of total imports. The second position in the ranking was held by Slovakia ($X), with a X% share of total imports. It was followed by the Czech Republic, with a X% share.

In Poland, crude maize oil imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Slovakia (X% per year) and the Czech Republic (X% per year).

Import Prices by Country

In 2023, the import price in Eastern Europe amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Poland ($X per ton), while Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Poland (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform