Refined corn oil and fractions market in Italy

Earlier Report Observations

The market volume for refined corn oil in Italy increased from 41 642 t in 2018 to a peak of 54 941 t in 2020, then declined to 27 597 t in 2023 before recovering to 46 526 t in 2024. In value terms, the market reached a high of $76.4 million in 2021, fell to $46.5 million in 2023, and rose to $61.3 million in 2024.

The 68.6% market volume growth in 2024 to 46 526 t was driven by increased demand for refined seed oils, including corn oil, as an alternative to olive oil due to rising olive oil prices and shifting consumer preferences. Italian producers such as Oleificio San Giorgio and Savi Italo Srl invested in refining technologies and supply chain traceability, supporting production. European regulatory updates that took effect in late 2022 continued to influence vegetable oil marketing, creating a stable environment.

In 2022, new EU rules for olive oil commercialization were introduced, indirectly affecting the vegetable oil market by setting standards for assessment and control. The launch of 100% Italian corn oil with full traceability by Oleificio Zucchi in 2023 highlighted the focus on domestic production. Global players like ADM and Cargill also maintain a presence in the market, contributing to its development.

Production refined corn oil and fractions in Italy

In value, 2017-2020, K $ US

Italy's production of refined corn oil and fractions increased in value for the second consecutive year. In 2020, output was valued at 71 317 thousand US dollars, marking a 20.2% increase compared to 2019. Over the period from 2017 to 2020, production decreased by 17.4%, with a compound annual growth rate of 6.2%. The lowest value was recorded in 2018 at 54 406 thousand US dollars, which also saw the largest decline of 37.0%.

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

In kind, 2017-2020, t

In 2020, Italy produced 64 944 tonnes of refined corn oil and fractions, showing little change from the previous year. Over the period from 2017 to 2020, production decreased by 10.9%, with a compound annual growth rate of 3.8%. The lowest volume was recorded in 2018 at 50 705 tonnes, which experienced the largest decline of 30.5%. The largest increase occurred in 2019, with a rise of 28.6%.

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

Exports refined corn oil and fractions from Italy

Exports in kind, t

After two years of growth, the volume of refined corn oil and fractions exported from Italy declined. In 2020, export volume reached 11 299 tonnes, representing a significant drop of 23.9% compared to the previous year. Over the period from 2017 to 2020, exports decreased by 16.1%, with a compound annual growth rate of 5.7%. The highest volume was recorded in 2019 at 14 855 tonnes, which also saw the largest increase of 7.6%.

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

From 2017 to 2020, the main markets for Italy's exports of refined corn oil and fractions in volume terms were Greece, accounting for 31.0% of exports, Libya with 13.6%, and Israel at 10.6%. Together, these three countries formed a cluster representing 55.1% of total export flows.

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

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

Exports in value, K $ US

The value of refined corn oil and fractions exported from Italy declined for the third consecutive year. In 2020, exports totaled 14 651 thousand US dollars, showing a slight decrease of 1.9% from 2019. Over the period from 2017 to 2020, exports decreased by 18.7%, with a compound annual growth rate of 6.7%.

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

From 2017 to 2020, the three main markets for Italy's exports of refined corn oil and fractions in value terms were Greece, Libya, and Israel, which together accounted for 53.7% of total export value.

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

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

Imports refined corn oil and fractions to Italy

Imports in kind, t

The data shows irregular changes, indicating a volatile market environment. Imports reached their lowest point in 2020 and peaked in 2018, with a 3.7-fold difference between these years. In 2020, Italy imported 1 296 tonnes of refined corn oil and fractions, corresponding to a decline of 65.6% compared with 2019. The highest volume was recorded in 2018 at 4 748 tonnes, which also saw the largest increase of 83.3%.

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

From 2017 to 2020, imports of refined corn oil and fractions to Italy in volume terms were almost entirely concentrated in France, which accounted for 90.7% of the total.

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

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

Imports in value, K $ US

The market showed signs of volatility over the observed period. Imports reached their lowest value in 2020 and peaked in 2018, with a 3.8-fold variation between these years. In 2020, Italy's imports of refined corn oil and fractions amounted to 1 633 thousand US dollars, showing a fall of 64.2% year-over-year. The highest value was recorded in 2018 at 6 259 thousand US dollars, which also experienced the largest increase of 83.8%.

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

From 2017 to 2020, 90.1% of the total value of refined corn oil and fractions imported to Italy was directed to France, making this market overwhelmingly dominant.

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

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