Apricot Market in Eastern Europe - the Growth of Russian Imports Is Losing Momentum

IndexBox has just published a new report: 'Eastern Europe - Apricots - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

The revenue of the apricot market in Eastern Europe amounted to $X in 2018, reducing by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +X% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013, when the market value increased by X% year-to-year. In that year, the apricot market reached its peak level of $X. From 2014 to 2018, the growth of the apricot market remained at a lower figure.

Production in Eastern Europe

In 2018, the amount of apricots produced in Eastern Europe stood at X tons, picking up by X% against the previous year. The total output volume increased at an average annual rate of +X% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013, when the output figure increased by X% year-to-year. In that year, apricot production reached its peak volume of X tons. From 2014 to 2018, apricot production growth failed to regain its momentum. The general positive trend in terms of apricot output was largely conditioned by a temperate expansion of the harvested area and a noticeable growth in yield figures.

Exports in Eastern Europe

In 2018, exports of apricots in Eastern Europe amounted to X tons, shrinking by -X% against the previous year. The total exports indicated a slight growth from 2007 to 2018: its volume increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the apricot exports decreased by -X% against 2016 indices. The growth pace was the most rapid in 2016, when exports increased by X% y-o-y. In that year, apricot exports attained their peak of X tons. From 2017 to 2018, the growth of apricot exports remained at a lower figure.

In value terms, apricot exports stood at $X (IndexBox estimates) in 2018. In general, apricot exports, however, continue to indicate a slight drop. The growth pace was the most rapid in 2016, when exports increased by X% y-o-y. Over the period under review, apricot exports reached their peak figure at $X in 2013; however, from 2014 to 2018, exports stood at a somewhat lower figure.

Exports by Country

In 2018, Bulgaria (X tons), Hungary (X tons) and Moldova (X tons) represented the largest exporters of apricots in Eastern Europe, constituting X% of total export. It was distantly followed by Lithuania (X tons), Poland (X tons) and the Czech Republic (X tons), together generating X% share of total exports. Belarus (X tons) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Bulgaria, while the other leaders experienced more modest paces of growth.

In value terms, the largest apricot markets in Eastern Europe were Hungary ($X), Bulgaria ($X) and Moldova ($X), together accounting for X% of total exports.

Export Prices by Country

The apricot export price in Eastern Europe stood at $X per ton in 2018, declining by -X% against the previous year. Over the period under review, the apricot export price continues to indicate a measured downturn. There were significant differences in the average export prices amongst the major exporting countries. In 2018, the country with the highest export price was the Czech Republic ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of export prices was attained by the Czech Republic, while the other leaders experienced mixed trends in the export price figures.

Imports in Eastern Europe

In 2018, imports of apricots in Eastern Europe amounted to X tons, shrinking by -X% against the previous year. The total imports indicated a prominent growth from 2007 to 2018: its volume increased at an average annual rate of +X% over the last eleven year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the apricot imports increased by +X% against 2016 indices. In value terms, apricot imports amounted to $X (IndexBox estimates) in 2018.

Imports by Country

Russia was the key importer of apricots in Eastern Europe, with the volume of imports resulting at X tons, which was near X% of total imports in 2018. Poland (X tons) ranks second in terms of the total imports with a X% share, followed by the Czech Republic (X%), Romania (X%) and Bulgaria (X%). The following importers - Belarus (X tons), Slovakia (X tons) and Ukraine (X tons) - together made up X% of total imports.

From 2007 to 2018, average annual rates of growth with regard to apricot imports into Russia stood at +X%. At the same time, the Czech Republic (+X%), Romania (+X%), Slovakia (+X%), Bulgaria (+X%), Belarus (+X%), Poland (+X%) and Ukraine (+X%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest growing importer in Eastern Europe, with a CAGR of +X% from 2007-2018. Slovakia (-X%), Bulgaria (-X%), Romania (-X%), the Czech Republic (-X%), Poland (-X%) and Russia (-X%) significantly weakened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported apricots in Eastern Europe, comprising X% of total apricot imports. The second position in the ranking was occupied by Poland ($X), with a X% share of total imports. It was followed by the Czech Republic, with a X% share.

Import Prices by Country

The apricot import price in Eastern Europe stood at $X per ton in 2018, rising by X% against the previous year. In general, the apricot import price, however, continues to indicate a slight slump. The growth pace was the most rapid in 2010, when the import price increased by X% y-o-y. In that year, the import prices for apricots reached their peak level of $X per ton. From 2011 to 2018, the growth in terms of the import prices for apricots remained at a somewhat lower figure.

Import prices varied noticeably by the country of destination; the country with the highest import price was Slovakia ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of import prices was attained by Slovakia, while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform