Algeria: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Algeria

The Algerian chemically modified oils market reduced modestly to $X in 2022, which is down by -5% against the previous year. In general, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -14.6% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Chemically Modified Oils Production in Algeria

In value terms, chemically modified oils production declined to $X in 2022 estimated in export price. Overall, the total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -15.1% against 2019 indices. The growth pace was the most rapid in 2019 when the production volume increased by 37%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Chemically Modified Oils Exports

Exports from Algeria

In 2022, overseas shipments of animal or vegetable fats and oils chemically modified decreased by -36.2% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of 278%. The exports peaked at X tons in 2021, and then dropped dramatically in the following year.

In value terms, chemically modified oils exports reduced notably to $X in 2022. Over the period under review, exports, however, recorded resilient growth. The growth pace was the most rapid in 2019 with an increase of 320%. The exports peaked at $X in 2021, and then fell sharply in the following year.

Exports by Country

Portugal (X tons) was the main destination for chemically modified oils exports from Algeria, with a 45% share of total exports. Moreover, chemically modified oils exports to Portugal exceeded the volume sent to the second major destination, the Netherlands (X tons), eightfold. The third position in this ranking was held by Tunisia (X tons), with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Portugal stood at +28.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-0.2% per year) and Tunisia (-15.3% per year).

In value terms, Portugal ($X) remains the key foreign market for animal or vegetable fats and oils chemically modified exports from Algeria, comprising 47% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 4.8% share of total exports. It was followed by Tunisia, with a 1.5% share.

From 2012 to 2022, the average annual growth rate of value to Portugal amounted to +42.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+3.9% per year) and Tunisia (-18.4% per year).

Export Prices by Country

In 2022, the average chemically modified oils export price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chemically modified oils export price increased by +64.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 64%. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Portugal ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+74.9%), while the prices for the other major destinations experienced more modest paces of growth.

Chemically Modified Oils Imports

Imports into Algeria

Chemically modified oils imports into Algeria skyrocketed to X tons in 2022, rising by 39% compared with 2021. Overall, imports saw a resilient increase. The growth pace was the most rapid in 2020 with an increase of 405%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, chemically modified oils imports rose slightly to $X in 2022. Over the period under review, imports showed a resilient expansion. The growth pace was the most rapid in 2019 with an increase of 198% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest chemically modified oils supplier to Algeria, accounting for a 27% share of total imports. Moreover, chemically modified oils imports from Turkey exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with an 8.5% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at +39.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+18.5% per year) and Taiwan (Chinese) (+12.7% per year).

In value terms, the largest chemically modified oils suppliers to Algeria were France ($X), Germany ($X) and Turkey ($X), together comprising 48% of total imports.

Among the main suppliers, Turkey, with a CAGR of +23.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average chemically modified oils import price amounted to $X per ton, which is down by -26.6% against the previous year. Over the period under review, the import price saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by 83%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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