Corn oil and fractions market in Australia

Earlier Report Observations

Australian corn oil production fluctuated between 1 241 tonnes in 2018 and 1 119 tonnes in 2021, while market volume peaked at 2 731 tonnes in 2020 before moderating. A significant production increase to 1 539 tonnes occurred in 2022, supported by high world oilseed prices that encouraged planting and processing, as seen in record canola export values that year. Growth continued to 1 625 tonnes in 2023, coinciding with regulatory activity from Food Standards Australia New Zealand (FSANZ) calling for comments on new genetically modified corn MON95379, which pointed to potential innovations in corn-based oil production.

The market saw further structural developments from 2024, highlighted by Australian Oilseeds Holdings Limited (AOI) becoming the largest cold-pressing oil plant in the APAC region, focusing on non-GMO and organic oilseeds. By 2025, AOI's merger expanded crushing capacity to 160 000 tonnes, strengthening domestic processing capabilities. Concurrently, tightening fuel quality standards effective December 2025, including new paraffinic diesel specifications, created a potential new demand channel for corn oil as a biodiesel feedstock, while ongoing consumer preference for organic and chemical-free oils influenced product offerings.

Production corn oil and fractions in Australia

In kind, 2018-2021, t

Top producers of corn oil and fractions, 2018-2021

World map of production of corn oil and fractions, 2018-2021

Australia's corn oil and fractions production increased for the second consecutive year. In 2021, production reached 1 119 tonnes, marking a 1.5% rise compared to 2020. However, looking at the broader period from 2018 to 2021, overall production declined by 9.8%, with a compound annual growth rate of -3.4%. The lowest production level was recorded in 2019 at 1 070 tonnes, which saw the largest decline of 13.8%. In contrast, 2020 experienced the largest increase of 3.0%.

Annual dynamics of production in Australia in kind, 2018-2021, t

Exports corn oil and fractions from Australia

Exports in kind, t

The market showed an unstable trend over the observed period. Exports fluctuated significantly, with a 120-fold difference between the peak in 2019 and the trough in 2018. In 2021, Australia's corn oil and fractions exports amounted to 1 tonne, representing an extraordinary increase of 11,886.6% compared to the previous year.

Annual dynamics of product's exports from Australia in kind, 2018-2021, t

From 2018 to 2021, Fiji dominated Australia's corn oil and fractions exports in kind, accounting for 74.1% of total flows. Other destinations contributed relatively small shares during this period.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Australia in kind, 2018-2021

Exports in value, K $ US

Market behavior was characterized by volatility during these years. Exports in value terms showed a 19-fold difference between the peak in 2019 and the trough in 2018. In 2021, foreign supplies of corn oil and fractions from Australia reached 28 thousand US dollars, surging by 1,763.5% compared to the previous year.

Annual dynamics of product's exports from Australia in value, 2018-2021, K $ US

Over the 2018–2021 period, Fiji, China, and Vietnam were the primary buyers of Australian corn oil and fractions in value terms. Fiji accounted for 59.9% of exports, China for 20.0%, and Vietnam for 10.8%. Together, these three countries represented 90.6% of total export value.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Australia in value, 2018-2021

Imports corn oil and fractions to Australia

Imports in kind, t

Australia imported a total of 1 629 tonnes of corn oil and fractions in 2021, showing a sharp drop of 32.1% compared to the previous year. Over the 2018-2021 period, imports decreased by 28.3%, with a compound annual growth rate of -10.5%. The highest import volume was recorded in 2020 at 1 629 tonnes, which also saw the largest increase of 38.0%.

Annual dynamics of product's imports to Australia in kind, 2018-2021, t

From 2018 to 2021, Malaysia, New Zealand, and Spain were the leading sources for Australia's corn oil and fractions imports in kind. Malaysia accounted for 56.1% of imports, New Zealand for 12.7%, and Spain for 11.2%. Collectively, these three countries represented 80.1% of total import flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Australia in kind, 2018-2021

Imports in value, K $ US

In 2021, foreign supplies of corn oil and fractions to Australia stood at 1 649 thousand US dollars, reflecting a robust drop of 23.5% over the past year. Over the 2018-2021 period, imports decreased by 18.9%, with a compound annual growth rate of -6.7%. The lowest value was recorded in 2019 at 1 480 thousand US dollars, which saw the largest decline of 27.2%. In contrast, 2020 reached the maximum value of 2 155 thousand US dollars with the largest increase of 45.6%.

Annual dynamics of product's imports to Australia in value, 2018-2021, K $ US

During 2018–2021, Malaysia, Spain, and New Zealand formed the main group of sources for Australia's corn oil and fractions imports in value terms. Malaysia accounted for 58.2% of imports, Spain for 10.1%, and New Zealand for 7.9%. Together, these three countries represented 76.2% of total import value.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Australia in value, 2018-2021