Central Asia: Vegetable Oils Market 2024

Vegetable Oils Market Size in Central Asia

The Central Asian vegetable oils market expanded sharply to $X in 2022, surging by X% against the previous year. Over the period under review, consumption saw a drastic downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Vegetable Oils Production in Central Asia

In value terms, vegetable oils production shrank modestly to $X in 2022 estimated in export price. Overall, production showed a abrupt descent. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Vegetable Oils Exports

Exports in Central Asia

In 2022, after four years of decline, there was significant growth in shipments abroad of vegetable fats and oils, when their volume increased by X% to X tons. Overall, exports, however, showed a deep slump. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, vegetable oils exports surged to $X in 2022. In general, exports, however, recorded a pronounced descent. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Kazakhstan (X tons) was the largest exporter of vegetable fats and oils, making up X% of total exports. Uzbekistan (X tons) ranks second in terms of the total exports with a X% share, followed by Kyrgyzstan (X%). Tajikistan (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to vegetable oils exports from Kazakhstan stood at X%. At the same time, Kyrgyzstan (X%), Uzbekistan (X%) and Tajikistan (X%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of X% from 2012-2022. While the share of Uzbekistan (X p.p.), Kyrgyzstan (X p.p.) and Tajikistan (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Kazakhstan (X p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) emerged as the largest vegetable oils supplier in Central Asia, comprising X% of total exports. The second position in the ranking was taken by Kyrgyzstan ($X), with a X% share of total exports. It was followed by Uzbekistan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Kazakhstan totaled X%. In the other countries, the average annual rates were as follows: Kyrgyzstan (X% per year) and Uzbekistan (X% per year).

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price, however, recorded temperate growth. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell sharply in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kyrgyzstan ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced mixed trends in the export price figures.

Vegetable Oils Imports

Imports in Central Asia

In 2022, approx. X tons of vegetable fats and oils were imported in Central Asia; waning by X% against the previous year. In general, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 when imports increased by X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, vegetable oils imports fell slightly to $X in 2022. Overall, imports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. The level of import peaked at $X in 2021, and then declined slightly in the following year.

Imports by Country

Uzbekistan dominates imports structure, amounting to X tons, which was approx. X% of total imports in 2022. It was distantly followed by Kazakhstan (X tons), committing a X% share of total imports. The following importers - Turkmenistan (X tons), Mongolia (X tons) and Kyrgyzstan (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to vegetable oils imports into Uzbekistan stood at X%. At the same time, Kyrgyzstan (X%), Turkmenistan (X%) and Mongolia (X%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of X% from 2012-2022. By contrast, Kazakhstan (X%) illustrated a downward trend over the same period. While the share of Uzbekistan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Kazakhstan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Uzbekistan ($X) constitutes the largest market for imported vegetable fats and oils in Central Asia, comprising X% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a X% share of total imports. It was followed by Turkmenistan, with a X% share.

In Uzbekistan, vegetable oils imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kazakhstan (X% per year) and Turkmenistan (X% per year).

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per ton, increasing by X% against the previous year. Import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable oils import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

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 Kazakhstan ($X per ton), while Mongolia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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