Corn oil and fractions market in Belgium

Earlier Report Observations

Between 2018 and 2020, the Belgian corn oil market saw significant volatility. The introduction of FAME biodiesel blending in 2019 created a new demand channel for vegetable oils, including corn oil. Market volume fell to 44 601 t that year before rebounding sharply to 62 720 t in 2020.

From 2021 to 2023, market volume gradually moderated. In 2021, a global production deficit for vegetable oils drove up prices and contributed to a decline in domestic consumption, lowering market size to 58 213 t. By 2023, a Belgian law that banned palm oil from counting toward sustainable biofuel mandates boosted demand for alternative oils such as corn oil, helping lift market volume to 56 677 t.

Production corn oil and fractions in Belgium

In kind, 2017-2020, K t

Between 2017 and 2020, Belgium ranked as the world's eighth-largest producer of corn oil and fractions.

Top producers of corn oil and fractions, 2017-2020

World map of production of corn oil and fractions, 2017-2020

Corn oil and fractions production in Belgium grew for two years before declining. In 2019, output reached its peak at 65.6 thousand tonnes. However, in 2020, production fell to 63.6 thousand tonnes, marking a 3.0% decrease from the previous year. The most significant increase occurred in 2018, with a rise of 1.2%.

Annual dynamics of production in Belgium in kind, 2017-2020, K t

Exports corn oil and fractions from Belgium

Exports in kind, t

Corn oil and fractions exports from Belgium rose for two years before dropping. In 2019, exports peaked at 34,000 tonnes, with a notable increase of 45.6% that year. By 2020, exports had fallen to 20,640 tonnes, a sharp decline of 39.3% compared to 2019. Over the entire 2017-2020 period, exports decreased by 7.6%, translating to a compound annual growth rate (CAGR) of -2.6%.

Annual dynamics of product's exports from Belgium in kind, 2017-2020, t

From 2017 to 2020, the export structure for corn oil and fractions from Belgium was highly fragmented. The top three destinations—Israel (22.0% of exports in volume), Libya (9.9%), and France (9.3%)—collectively accounted for just 41.2% of total flows, with no single country holding a dominant share.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Belgium in kind, 2017-2020

Exports in value, K $ US

Corn oil and fractions exports from Belgium in monetary terms followed a similar trend. In 2019, the value reached its highest point at 31,085 thousand US dollars, with a 13.1% increase that year. By 2020, the export value had dropped to 23,795 thousand US dollars, a substantial decrease of 23.5% from the previous year. Over the 2017-2020 period, exports declined by 22.0%, resulting in a CAGR of -7.9%.

Annual dynamics of product's exports from Belgium in value, 2017-2020, K $ US

Between 2017 and 2020, the largest buyers of corn oil and fractions from Belgium in value terms were Israel (23.6% of export value), Libya (12.3%), and France (9.1%). Together, these three countries made up 45.0% of total export value, while numerous smaller partners contributed to the remaining share.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Belgium in value, 2017-2020

Imports corn oil and fractions to Belgium

Imports in kind, t

Corn oil and fractions imports into Belgium increased for the second consecutive year. In 2018, imports hit their lowest point at 10,802 tonnes, with a decline of 31.3% that year. By 2020, imports had risen to 19,760 tonnes, a significant increase of 52.0% compared to 2019. Over the 2017-2020 period, imports grew by 25.6%, with a CAGR of 7.9%.

Annual dynamics of product's imports to Belgium in kind, 2017-2020, t

From 2017 to 2020, the import structure for corn oil and fractions into Belgium was dominated by three countries: the Netherlands (37.7% of imports in volume), Germany (36.3%), and France (19.3%). Together, they represented 93.3% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Belgium in kind, 2017-2020

Imports in value, K $ US

Corn oil and fractions imports into Belgium in monetary terms also saw a second consecutive year of growth. In 2018, the import value was at its minimum of 9,810 thousand US dollars, with a drop of 36.1% that year. By 2020, the value had climbed to 17,324 thousand US dollars, a sharp increase of 69.8% from 2019. Over the 2017-2020 period, imports increased by 12.9%, with a CAGR of 4.1%.

Annual dynamics of product's imports to Belgium in value, 2017-2020, K $ US

Between 2017 and 2020, the Netherlands (38.0% of import value), Germany (31.7%), and France (23.0%) accounted for the largest shares of corn oil and fractions imports into Belgium in monetary terms. Collectively, these three countries made up 92.6% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Belgium in value, 2017-2020