Australia and Oceania: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in Australia and Oceania

The margarine and shortening market in Australia and Oceania shrank modestly to $X in 2022, with a decrease of -1.9% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Margarine And Shortening Production in Australia and Oceania

In value terms, margarine and shortening production fell to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 21% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Margarine And Shortening Exports

Exports in Australia and Oceania

In 2022, shipments abroad of margarine and shortening was finally on the rise to reach X tons after two years of decline. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 32%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, margarine and shortening exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 18%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Australia (X tons) was the largest exporter of margarine and shortening, generating 87% of total exports. It was distantly followed by New Zealand (X tons), comprising a 12% share of total exports.

Australia experienced a relatively flat trend pattern with regard to volume of exports of margarine and shortening. New Zealand experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest margarine and shortening supplier in Australia and Oceania, comprising 88% of total exports. The second position in the ranking was held by New Zealand ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia was relatively modest.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, surging by 5% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 30% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while New Zealand amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+2.9%).

Margarine And Shortening Imports

Imports in Australia and Oceania

In 2022, margarine and shortening imports in Australia and Oceania rose markedly to X tons, surging by 7.5% compared with the year before. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 15%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, margarine and shortening imports skyrocketed to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia was the largest importing country with an import of about X tons, which resulted at 53% of total imports. It was distantly followed by New Zealand (X tons), Fiji (X tons), Papua New Guinea (X tons) and New Caledonia (X tons), together making up a 43% share of total imports. French Polynesia (X tons) followed a long way behind the leaders.

Australia experienced a relatively flat trend pattern with regard to volume of imports of margarine and shortening. At the same time, Fiji (+4.5%) and New Caledonia (+1.7%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +4.5% from 2012-2022. Papua New Guinea and French Polynesia experienced a relatively flat trend pattern. By contrast, New Zealand (-6.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Australia and Fiji increased by +5.3 and +4.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported margarine and shortening in Australia and Oceania, comprising 54% of total imports. The second position in the ranking was held by New Zealand ($X), with a 19% share of total imports. It was followed by Fiji, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia amounted to +3.0%. In the other countries, the average annual rates were as follows: New Zealand (-4.3% per year) and Fiji (+6.3% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, rising by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2020 when the import price increased by 14%. Over the period under review, import prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was French Polynesia ($X per ton), while New Caledonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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