CIS: Market for Fish Fats And Oils 2024

Market Size for Fish Fats And Oils in CIS

The CIS fish fat and oil market stood at $X in 2022, with an increase of 4.3% against the previous year. The total consumption indicated a pronounced increase 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 -3.5% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Fish Fats And Oils in CIS

In value terms, fish fat and oil production expanded slightly to $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 -3.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 20%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Fish Fats And Oils

Exports in CIS

After four years of growth, shipments abroad of fish fats and oils decreased by -4.7% to X tons in 2022. In general, exports, however, saw significant growth. The growth pace was the most rapid in 2020 when exports increased by 649% against the previous year. The volume of export peaked at X tons in 2021, and then declined in the following year.

In value terms, fish fat and oil exports contracted to $X in 2022. Over the period under review, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 416%. Over the period under review, the exports attained the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

Russia dominates exports structure, recording X tons, which was approx. 87% of total exports in 2022. Armenia (X tons) took the second position in the ranking, followed by Belarus (X tons). All these countries together took near 12% share of total exports.

Exports from Russia increased at an average annual rate of +37.2% from 2012 to 2022. At the same time, Belarus (+45.2%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +45.2% from 2012-2022. Armenia experienced a relatively flat trend pattern. From 2012 to 2022, the share of Armenia and Belarus increased by +6.9 and +2.1 percentage points, respectively.

In value terms, Russia ($X) remains the largest fish fat and oil supplier in the CIS, comprising 87% of total exports. The second position in the ranking was taken by Armenia ($X), with a 7.7% share of total exports.

In Russia, fish fat and oil exports increased at an average annual rate of +48.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Armenia (0.0% per year) and Belarus (+33.5% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, falling by -9.4% against the previous year. In general, the export price, however, showed a resilient increase. The most prominent rate of growth was recorded in 2013 when the export price increased by 44%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Armenia ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+7.9%).

Imports of Fish Fats And Oils

Imports in CIS

In 2022, supplies from abroad of fish fats and oils increased by 25% to X tons, rising for the seventh year in a row after three years of decline. Over the period under review, imports saw a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 44%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, fish fat and oil imports contracted to $X in 2022. In general, imports posted prominent growth. The most prominent rate of growth was recorded in 2019 when imports increased by 55% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then dropped in the following year.

Imports by Country

Russia (X tons) and Armenia (X tons) prevails in imports structure, together creating 90% of total imports. It was distantly followed by Belarus (X tons), creating a 6.1% share of total imports. Kazakhstan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Armenia (with a CAGR of +67.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constitutes the largest market for imported fish fats and oils in the CIS, comprising 80% of total imports. The second position in the ranking was taken by Armenia ($X), with a 9.8% share of total imports. It was followed by Kazakhstan, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia stood at +15.2%. The remaining importing countries recorded the following average annual rates of imports growth: Armenia (+70.7% per year) and Kazakhstan (+17.2% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, reducing by -26% against the previous year. Over the period under review, the import price, however, saw a moderate increase. The pace of growth appeared the most rapid in 2019 an increase of 49%. The level of import peaked at $X per ton in 2021, and then contracted dramatically in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while Armenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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