Corn oil and fractions market in India

Earlier Report Observations

Production of corn oil in India declined from 6 829 tons in 2018 to 4 661 tons in 2020, pulling the market volume down from 6 852 tons to 4 679 tons. This sharp contraction in 2020 marked the lowest point in the period, followed by two years of stabilization around 4 700 tons.

A notable turnaround occurred in 2023, when production jumped by 34% to 6 263 tons and the market volume grew by 24% to 5 938 tons, returning close to the levels seen at the start of the period.

In 2024, the Indian government approved the National Mission on Edible Oils – Oilseeds (NMEO-Oilseeds) and raised customs duties on edible oils to support domestic oilseed farmers. Simultaneously, maize emerged as a key feedstock for ethanol production, driving an expansion in cultivation area and increasing maize prices.

Production corn oil and fractions in India

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

India's production of corn oil and fractions declined for the second year in a row. In 2020, the country produced 4,661 tonnes, which represents a 29.5% decrease from the previous year. Over the 2017-2020 period, production fell by 27.6%, with a compound annual growth rate of -10.2%. The highest production level was recorded in 2018 at 6,829 tonnes, which also saw the largest annual increase of 6.1%.

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

Exports corn oil and fractions from India

Exports in kind, kg

Export volumes showed significant fluctuations during this period. The lowest point was in 2019 at 7,353 kg, while exports peaked in 2020 at 66,892 kg, marking a 9.1-fold difference between these two years. The 2020 figure represents a dramatic increase of 809.7% compared to 2019. The largest decline occurred in 2018, with a drop of 48.2%.

Annual dynamics of product's exports from India in kind, 2017-2020, kg

From 2017 to 2020, Nepal, the United States, and Singapore were India's primary buyers of corn oil and fractions by volume. Nepal accounted for 48.5% of exports, the United States for 21.6%, and Singapore for 5.5%. Together, these three markets represented 75.7% of India's total exports in kind.

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

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

Exports in value, K $ US

Export values displayed an unstable pattern over this timeframe. The lowest value was recorded in 2019 at $52.8 thousand, while the peak occurred in 2020 at $133.6 thousand, creating a 2.5-fold gap. The 2020 value represents a 153.1% increase from 2019. The largest decline took place in 2019, falling by 41.6%.

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

During the 2017-2020 period, the United States, Australia, and Singapore emerged as the main markets for India's corn oil and fractions exports by value. The United States accounted for 34.4% of export value, Australia for 24.2%, and Singapore for 6.0%. Collectively, these three destinations represented 64.6% of total export flows.

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

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

Imports corn oil and fractions to India

Imports in kind, kg

India's imports of corn oil and fractions increased for the third consecutive year. In 2020, the country imported approximately 85,429 kg, which is 15.1% higher than in 2019. Over the 2017-2020 period, imports grew by 468.8%, with a compound annual growth rate of 78.5%.

Annual dynamics of product's imports to India in kind, 2017-2020, kg

Between 2017 and 2020, Bangladesh and Germany consistently dominated India's imports of corn oil and fractions by volume, together accounting for 82.3% of total imports. This indicates a highly concentrated import market with numerous smaller suppliers making up the remainder.

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

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

Imports in value, K $ US

Import values showed considerable volatility throughout this period. The minimum value was recorded in 2017, while the maximum occurred in 2019 at $138.0 thousand, representing a 2.5-fold variation between these years. In 2020, India imported $117.3 thousand worth of corn oil and fractions, which marks a 15.0% decrease from 2019. The largest increase was recorded in 2018, rising by 125.6%.

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

From 2017 to 2020, Germany, Bangladesh, and France were the primary sources of India's corn oil and fractions imports by value. Germany accounted for 41.2% of import value, Bangladesh for 26.6%, and France for 12.4%. Together, these three countries represented 80.2% of India's total import flows.

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

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