CIS: Glutamic Acid Market 2024

Glutamic Acid Exports

Exports in CIS

In 2022, overseas shipments of glutamic acid and its salts decreased by -2.3% to X tons, falling for the second consecutive year after three years of growth. Overall, exports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2018 with an increase of 176% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, glutamic acid exports fell dramatically to $X in 2022. In general, exports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 244% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then dropped sharply in the following year.

Exports by Country

Russia dominates exports structure, accounting for X tons, which was approx. 96% of total exports in 2022. Kazakhstan (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to glutamic acid exports from Russia stood at +14.1%. At the same time, Kazakhstan (+47.0%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +47.0% from 2012-2022. While the share of Kazakhstan (+3.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Russia (-3.2 p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest glutamic acid supplier in the CIS, comprising 95% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a 5.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Russia totaled +9.1%.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, reducing by -13.9% against the previous year. Overall, the export price recorded a pronounced decline. The pace of growth was the most pronounced in 2021 an increase of 34%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (-1.6%).

Glutamic Acid Imports

Imports in CIS

In 2022, after five years of growth, there was decline in purchases abroad of glutamic acid and its salts, when their volume decreased by -0.2% to X tons. Over the period under review, imports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of 82% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then reduced modestly in the following year.

In value terms, glutamic acid imports reduced modestly to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +73.1% against 2016 indices. The growth pace was the most rapid in 2021 when imports increased by 26% against the previous year. As a result, imports reached the peak of $X, and then declined slightly in the following year.

Imports by Country

Russia represented the largest importing country with an import of around X tons, which recorded 76% of total imports. Uzbekistan (X tons) held the second position in the ranking, followed by Kazakhstan (X tons). All these countries together took near 20% share of total imports. Kyrgyzstan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to glutamic acid imports into Russia stood at +3.4%. At the same time, Kyrgyzstan (+323.3%) and Kazakhstan (+25.2%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +323.3% from 2012-2022. Uzbekistan experienced a relatively flat trend pattern. From 2012 to 2022, the share of Uzbekistan, Kazakhstan and Kyrgyzstan increased by +13, +5.8 and +2.5 percentage points, respectively.

In value terms, Russia ($X) constitutes the largest market for imported glutamic acid and its salts in the CIS, comprising 77% of total imports. The second position in the ranking was taken by Uzbekistan ($X), with a 12% share of total imports. It was followed by Kazakhstan, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia was relatively modest. In the other countries, the average annual rates were as follows: Uzbekistan (+21.5% per year) and Kazakhstan (+22.9% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, reducing by -4.5% against the previous year. In general, the import price continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2021 an increase of 24%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while Kyrgyzstan ($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 (+22.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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