Belarus: Fats Preparation Machinery Market 2024

Fats Preparation Machinery Market Size in Belarus

The Belarusian fats preparation machinery market rose modestly to $X in 2022, increasing by 3.6% against the previous year. In general, consumption posted a buoyant increase. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Fats Preparation Machinery Production in Belarus

In value terms, fats preparation machinery production contracted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 1,047% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Fats Preparation Machinery Exports

Exports from Belarus

Fats preparation machinery exports from Belarus shrank notably to X units in 2022, reducing by -31.5% compared with 2021 figures. Overall, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 200% against the previous year. The exports peaked at X units in 2021, and then reduced remarkably in the following year.

In value terms, fats preparation machinery exports plummeted to $X in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 215% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then shrank significantly in the following year.

Exports by Country

Russia (X units) was the main destination for fats preparation machinery exports from Belarus, with a 80% share of total exports. Moreover, fats preparation machinery exports to Russia exceeded the volume sent to the second major destination, Ukraine (X units), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at +56.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+34.9% per year) and Lithuania (+7.2% per year).

In value terms, Russia ($X) remains the key foreign market for machinery for the extraction or preparation of animal or fixed vegetable fats or oils exports from Belarus, comprising 96% of total exports. The second position in the ranking was held by Ukraine ($X), with a 4.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Russia totaled +53.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+8.1% per year) and Lithuania (+20.0% per year).

Export Prices by Country

The average fats preparation machinery export price stood at $X per unit in 2022, waning by -1.5% against the previous year. Overall, the export price showed a pronounced slump. The most prominent rate of growth was recorded in 2014 when the average export price increased by 94% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Lithuania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+12.0%), while the prices for the other major destinations experienced a decline.

Fats Preparation Machinery Imports

Imports into Belarus

In 2022, the amount of machinery for the extraction or preparation of animal or fixed vegetable fats or oils imported into Belarus reached X units, growing by 8.1% compared with the previous year. Overall, imports showed prominent growth. The most prominent rate of growth was recorded in 2017 when imports increased by 641%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, fats preparation machinery imports shrank significantly to $X in 2022. In general, imports, however, showed a abrupt downturn. The growth pace was the most rapid in 2017 with an increase of 2,625% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Moldova (X units) constituted the largest fats preparation machinery supplier to Belarus, with a 85% share of total imports. Moreover, fats preparation machinery imports from Moldova exceeded the figures recorded by the second-largest supplier, Russia (X units), tenfold. Italy (X units) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume from Moldova amounted to +41.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+17.1% per year) and Italy (-11.0% per year).

In value terms, the largest fats preparation machinery suppliers to Belarus were Russia ($X), Moldova ($X) and Italy ($X), with a combined 64% share of total imports. China, Ukraine and Poland lagged somewhat behind, together comprising a further 19%.

China, with a CAGR of +40.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fats preparation machinery import price stood at $X per unit in 2022, declining by -39.8% against the previous year. Over the period under review, the import price saw a abrupt slump. The most prominent rate of growth was recorded in 2017 an increase of 268%. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 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 China ($X per unit), while the price for Moldova ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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