Market research

Corn oil and fractions market in Greece

$Corn oil and fractions market in Greece$

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

The market volume for corn oil in Greece stood at 33.5 thousand tons in 2018 and declined steadily over the next two years, falling to 28.9 thousand tons in 2020. A sharp contraction followed in 2021, bringing the market down to 18.6 thousand tons.

In 2022, the market recovered to 21.7 thousand tons before dropping again to 17.8 thousand tons in 2023. The geopolitical crisis from Russia's invasion of Ukraine raised production costs for corn, affecting the oil's cost structure, while FARMA-CHEM SA introduced new climate-adapted maize varieties that supported domestic raw material supply. The continuing energy crisis and the implementation of the National Climate Law (Law 4936/2022) in 2023 tightened environmental compliance and raised sectoral costs, contributing to the market's contraction.

By 2024, new EU rules on edible oil handling and heightened safety scrutiny began to set a fresh regulatory framework for the market, influencing trade and compliance practices.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
  2. 4.1.2. In value
    1. 4.1.2.1. Production, 2018-2020
    2. 4.1.2.2. Imports, 2018-2024
    3. 4.1.2.3. Exports, 2018-2024
    4. 4.1.2.4. Market size, 2018-2020
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Greece
  1. 5.1.1. In kind, 2018-2023, t
  2. 5.1.2. In value, 2018-2020, K $ US
2. 5.2. Production in the EU, 2018-2024
  1. 5.2.1. In kind, 2018-2024, t
  2. 5.2.2. In value, 2018-2024, K $ US
3. 5.3. Global production by Country, 2018-2023
  1. 5.3.1. Global Production by Country in kind
    1. 5.3.1.1. Annual dynamics of production by country in kind, 2018-2023, t
    2. 5.3.1.2. Structure of production by countries in kind, 2018-2023
    3. 5.3.1.3. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, t
    1. 6.1.2.1. Annual dynamics of product's imports to Greece in kind, 2018-2024, t
    2. 6.1.2.2. Dynamics of product's imports in kind to Greece by countries, 2018-2024, t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Greece in value, 2018-2024, K $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Greece by countries, 2018-2024, K $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Greece, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Greece by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, t
    1. 6.2.2.1. Annual dynamics of product's imports to Greece in kind, 2018-2024, t
    2. 6.2.2.2. Dynamics of product's imports in kind to Greece by countries, 2018-2024, t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Greece in value, 2018-2024, K $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Greece by countries, 2018-2024, K $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Greece, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Greece by countries, 2018-2024, $ US/t
7. Exports
1. 7.1. Exports (Direct Data)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, t
    1. 7.1.2.1. Annual dynamics of product's exports from Greece in kind, 2018-2024, t
    2. 7.1.2.2. Dynamics of product's exports in kind from Greece by countries, 2018-2024, t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Greece in value, 2018-2024, K $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Greece by countries, 2018-2024, K $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Greece, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from Greece by countries, 2018-2024, $ US/t
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, t
    1. 7.2.2.1. Annual dynamics of product's exports from Greece in kind, 2018-2024, t
    2. 7.2.2.2. Dynamics of product's exports in kind from Greece by countries, 2018-2024, t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Greece in value, 2018-2024, K $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Greece by countries, 2018-2024, K $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Greece, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from Greece by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production corn oil and fractions in Greece

In value, 2017-2020, K $ US

After two consecutive years of decline, Greece's production of corn oil and fractions rebounded in 2020. The output value reached 19 547 thousand US dollars, marking a 15.1% increase compared to the previous year. Over the 2017-2020 period, production decreased by 18.7%, with a compound annual growth rate of 6.7%. The lowest value was recorded in 2019 at 16 977 thousand US dollars, while the largest decline occurred in 2018 with a 19.9% drop.

Annual dynamics of production in Greece in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(19.9%)	(11.9%)	15.1%	(6.7%)

Source: SHEV.io

In kind, 2017-2020, t

From 2017 to 2020, Greece ranked 23rd globally in the production of corn oil and fractions.

Top producers of corn oil and fractions, 2017-2020

Source: SHEV.io

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

Source: SHEV.io

In 2020, Greece produced 14 474 tonnes of corn oil and fractions, representing a 6.4% increase over the prior year. Between 2017 and 2020, production decreased by 15.3%, which translates to an annualized rate of 5.4%. The lowest production volume was recorded in 2019 at 13 598 tonnes, with the largest decline occurring in 2018 at 20.4%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(20.4%)	(0.0%)	6.4%	(5.4%)

Source: SHEV.io

Exports corn oil and fractions from Greece

Exports in kind, t

Market performance showed noticeable fluctuations during this period. Export volumes varied significantly, with a 2.3-fold difference between the low in 2017 and the high in 2019. In 2020, Greece's cross-border shipments of corn oil and fractions amounted to 395 tonnes, down 31.1% from the previous year. The peak was recorded in 2019 at 573 tonnes, which also saw the largest increase of 98.0%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	15.4%	98.0%	(31.1%)	16.3%

Source: SHEV.io

From 2017 to 2020, Albania and Iraq dominated Greece's exports of corn oil and fractions in volume terms, jointly accounting for 81.9% of total flows. Other countries held much smaller shares.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, K $ US

Market performance exhibited noticeable fluctuations during this period. Export values showed a 1.8-fold variation from the low in 2017 to the peak in 2019. In 2020, Greece's exports of corn oil and fractions reached 616 thousand US dollars, reflecting a significant decrease of 12.3% compared to the previous year. The highest value was recorded in 2019 at 703 thousand US dollars, which also experienced the largest increase of 76.0%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	1.6%	76.0%	(12.3%)	16.2%

Source: SHEV.io

From 2017 to 2020, Albania, Iraq, and Cyprus led Greece's export structure in value terms. Albania accounted for 50.7% of exports, Iraq for 28.4%, and Cyprus for 10.8%. Together, these three countries represented 89.9% of total export flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports corn oil and fractions to Greece

Imports in kind, t

Greece's import volume of corn oil and fractions declined for the third consecutive year. In 2020, imports stood at 14 809 tonnes, corresponding to a solid reduction of 19.0% compared to the previous year. Between 2017 and 2020, imports decreased by 28.5%, equating to an annualized rate of 10.6%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(2.8%)	(9.3%)	(19.0%)	(10.6%)

Source: SHEV.io

Throughout 2017-2020, Italy, Hungary, and France were the key sources for Greece's imports of corn oil and fractions in volume terms. Italy accounted for 40.1% of imports, Hungary for 33.1%, and France for 20.6%. Collectively, these three countries represented 93.8% of total import flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, K $ US

Greece's imports of corn oil and fractions declined for the third consecutive year. In 2020, imports were recorded at 15 163 thousand US dollars, representing a slight drop of 1.6% compared to 2019. Over the 2017-2020 period, imports decreased by 36%, with a compound annual growth rate of 13.8%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(11.2%)	(26.8%)	(1.6%)	(13.8%)

Source: SHEV.io

From 2017 to 2020, Italy, Hungary, and France formed the key group of partners for Greece's imports of corn oil and fractions in value terms. Italy accounted for 37.5% of imports, Hungary for 31.0%, and France for 24.7%. Together, these three countries represented 93.2% of total import flows.

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

Source: SHEV.io

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

Source: SHEV.io