Corn oil and fractions market in CIS

Earlier Report Observations

The market for corn oil and fractions in the CIS expanded from 56 265 tons in 2018 to 65 760 tons in 2019, driven by continued growth in domestic production as the economic situation stabilized. This increase was supported by a saturated domestic sunflower oil market, which led to a greater focus on exports and a reduction in sunflower oil imports, indirectly benefiting corn oil consumption.

Market volume stabilized near 64 639 tons in 2020, then declined to 60 232 tons in 2021 and further to 52 082 tons in 2022. The decline followed the introduction of a sharply higher export duty on sunflower seeds, which rose from 6.5% to 30% and later to 50% between July 2021 and September 2022, regulating raw material exports and affecting oil production. International sanctions and foreign trade restrictions imposed in 2022 further disrupted supply chains, contributing to the market contraction.

In 2023, the market rebounded to 59 252 tons. This recovery was fueled by the launch of new production facilities in the Rostov and Orenburg regions, which significantly increased corn oil output, alongside growing revenue for major producers in the sector.

Production corn oil and fractions in CIS

In kind, 2017-2020, t

Top producers of corn oil and fractions, 2017-2020

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

Following two years of growth, corn oil and fractions production in the CIS declined. In 2019, production reached its peak at 47 803 tons, but by 2020, it had fallen to 44 928 tons, marking a 6.0% decrease from the previous year. Over the 2017-2020 period, production increased by 15.4%, with an average annual growth rate of 4.9%. The most significant year-on-year increase occurred in 2019, at 14.3%.

Annual dynamics of production in CIS in kind, 2017-2020, t

In value, 2017-2020, M $ US

After two consecutive years of growth, corn oil and fractions production in the CIS experienced a decline. In 2019, output peaked at 242.6 million US dollars, but in 2020, it dropped to 207.4 million US dollars, representing a 14.5% decrease from the previous year. Over the 2017-2020 period, production decreased by 8.7%, with an average annual decline of 3.0%. The largest year-on-year increase was recorded in 2018, at 4.6%.

Annual dynamics of production in CIS in value, 2017-2020, M $ US

Exports corn oil and fractions from CIS

Exports in kind, t

Corn oil and fractions exports from the CIS have increased for the third consecutive year. In 2020, exports totaled 1 363 tons, reflecting a substantial 20.8% rise compared to the previous year. Over the 2017-2020 period, exports grew by 47.4%, with an average annual growth rate of 13.8%.

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

From 2017 to 2020, the buyer portfolio for corn oil and fractions from the CIS was broad and diverse. Georgia accounted for 15.4% of exports in kind, Israel for 3.0%, and Ukraine for 2.9%, together contributing only 21.3% of total exports. Many other countries held smaller but notable shares, indicating a fragmented market structure.

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

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

Exports in value, K $ US

In 2020, corn oil and fractions shipments from the CIS to abroad amounted to 6.291 million US dollars, representing a modest 9.9% increase from the previous year. Between 2017 and 2020, exports increased by 16.5%, equating to an average annual growth rate of 5.2%. The largest decline occurred in 2019, at 4.3%, while the largest increase was recorded in 2018, at 10.8%.

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

The structure of exports in value terms from 2017 to 2020 can be described as diversified. Georgia accounted for 18.8% of exports in value terms, Ukraine for 2.9%, and Israel for 2.5%, together making up just 24.2% of total flows. No single country held a clearly dominant position, reflecting a balanced distribution across multiple markets.

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

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

Imports corn oil and fractions to CIS

Imports in kind, t

Corn oil and fractions imports into the CIS have increased for the second consecutive year. In 2020, imports reached 21 074 tons, showing a 10.4% rise from the previous year. Between 2017 and 2020, imports grew by 24.5%, with an average annual growth rate of 7.6%. The lowest import volume was recorded in 2018 at 15 492 tons, which also saw the largest decline of 8.4%. The most significant increase occurred in 2019, at 23.2%.

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

Throughout 2017 to 2020, the three largest markets for corn oil and fractions imports into the CIS were the United States, Argentina, and Turkey. Together, they accounted for 74.3% of total import flows in kind, highlighting their central role in the import structure.

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

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

Imports in value, K $ US

Corn oil and fractions imports into the CIS have increased for the second consecutive year. In 2020, import volume stood at 26.000 million US dollars, up by 27.2% from the previous year. Over the 2017-2020 period, imports increased by 2.6%, with an average annual growth rate of 0.8%. The lowest value was recorded in 2018 at 18.387 million US dollars, which also experienced the largest decline of 27.5%.

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

From 2017 to 2020, the leading destinations for corn oil and fractions imports into the CIS in value terms were the United States, accounting for 52.2% of imports, Argentina at 10.3%, and Turkey at 9.0%. Together, these three countries made up 71.4% of total import flows, indicating a concentrated but not exclusive reliance on these markets.

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

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