Vegetable oils: maize (corn) oil and its fractions, other than crude, whether or not refined, but not chemically modified

In 2024, vegetable oils: maize (corn) oil and its fractions, other than crude, whether or not refined, but not chemically modified trade exhibited significant decline, with global flows reaching $457,211,257 and a three-year compound annual growth rate of -2.4% (five-year: +1.4%). The all-time peak of $910,899,520 was recorded in 2012; the current level is 50% below that high-water mark.

Over the 30-year observation window (1995–2024), 48% of years recorded positive growth, indicating significant cyclicality with frequent contractions. Trend momentum is steady (+0.0% acceleration).

The World Trade Flows Characterization classifies vegetable oils: maize (corn) oil and its fractions, other than crude, whether or not refined, but not chemically modified as "One-way trade" in the high price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is diversified (Herfindahl-Hirschman Index 0.089). The three largest exporters — United States ($97.5M), Türkiye ($72.1M), and Saudi Arabia ($38.3M) — collectively dominate supply flows. The leading exporter has grown at -6.2% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.085). The three largest import markets are Libya ($94.9M), Kuwait ($66.4M), and United States ($35.8M). The largest importing market sources from 11 different supplying countries.

Estimated substitution elasticity: -5.88. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is United States → Kuwait at $58.1M, representing 87.5% of the importer's total demand.

The volatility score for vegetable oils: maize (corn) oil and its fractions, other than crude, whether or not refined, but not chemically modified is 13 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, contracting demand signals caution before committing resources. The diversified supply landscape means many competitors but also multiple entry points and buyer relationships to target.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.