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Kuwait - Refined Maize (Corn) Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingKuwait: Refined Maize Oil Market 2024
Refined Maize Oil Market Size in Kuwait
The Kuwaiti refined maize oil market soared to $X in 2023, surging by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a pronounced setback. Over the period under review, the market attained the peak level at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.
Refined Maize Oil Exports
Exports from Kuwait
In 2023, shipments abroad of refined maize (corn) oil decreased by X% to X tons, falling for the third year in a row after two years of growth. In general, exports faced a significant decline. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.
In value terms, refined maize oil exports fell rapidly to $X in 2023. Over the period under review, exports recorded a sharp curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2023, the growth of the exports remained at a somewhat lower figure.
Exports by Country
Oman (X tons) was the main destination for refined maize oil exports from Kuwait, accounting for a X% share of total exports. Moreover, refined maize oil exports to Oman exceeded the volume sent to the second major destination, Iran (X tons), twofold. Saudi Arabia (X tons) ranked third in terms of total exports with a X% share.
From 2012 to 2023, the average annual growth rate of volume to Oman totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (X% per year) and Saudi Arabia (X% per year).
In value terms, the largest markets for refined maize oil exported from Kuwait were Iran ($X), Oman ($X) and Saudi Arabia ($X), with a combined X% share of total exports.
Among the main countries of destination, Oman, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.
Export Prices by Country
In 2023, the average refined maize oil export price amounted to $X per ton, growing by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the average export price increased by X%. The export price peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Oman ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (X%), while the prices for the other major destinations experienced mixed trend patterns.
Refined Maize Oil Imports
Imports into Kuwait
In 2023, supplies from abroad of refined maize (corn) oil was finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. In general, imports, however, continue to indicate a noticeable curtailment. Imports peaked at X tons in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.
In value terms, refined maize oil imports soared to $X in 2023. Overall, imports, however, saw a noticeable downturn. Imports peaked at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.
Imports by Country
Saudi Arabia (X tons), Belgium (X tons) and the United Arab Emirates (X tons) were the main suppliers of refined maize oil imports to Kuwait, together accounting for X% of total imports.
From 2012 to 2023, the biggest increases were recorded for Belgium (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Saudi Arabia ($X), Belgium ($X) and the United Arab Emirates ($X) constituted the largest refined maize oil suppliers to Kuwait, together accounting for X% of total imports.
Belgium, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The average refined maize oil import price stood at $X per ton in 2023, falling by X% against the previous year. Over the period under review, import price indicated slight growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, refined maize oil import price increased by X% against 2018 indices. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2022, and then dropped markedly in the following year.
Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and the United Arab Emirates ($X per ton), while the price for Belgium ($X per ton) and Turkey ($X per ton) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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This report provides an in-depth analysis of the refined maize oil market in Kuwait. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10621460 - Refined maize (corn) oil and its fractions (excluding chemically modified)
Country coverage:
- Kuwait
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Kuwait
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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