CIS: Rum Market 2024

Rum Market Size in CIS

The CIS rum market reduced remarkably to $X in 2022, declining by -15.6% against the previous year. Overall, consumption saw a noticeable downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Rum Production in CIS

In value terms, rum production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed tangible growth. The pace of growth was the most pronounced in 2015 with an increase of 46% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Rum Exports

Exports in CIS

In 2022, approx. X litres of rum were exported in the CIS; growing by 316% on 2021 figures. Overall, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, rum exports skyrocketed to $X in 2022. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2013 when exports increased by 140%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Armenia prevails in exports structure, amounting to X litres, which was approx. 87% of total exports in 2022. It was distantly followed by Belarus (X litres), creating a 9% share of total exports. Moldova (X litres) took a minor share of total exports.

Armenia was also the fastest-growing in terms of the rum exports, with a CAGR of +1,090.8% from 2012 to 2022. At the same time, Belarus (+18.6%) displayed positive paces of growth. By contrast, Moldova (-4.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Armenia and Moldova increased by +87 and +3.2 percentage points, respectively.

In value terms, the largest rum supplying countries in the CIS were Armenia ($X), Belarus ($X) and Moldova ($X), together comprising 99% of total exports.

Armenia, with a CAGR of +724.3%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per litre, with a decrease of -51.8% against the previous year. In general, the export price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2018 an increase of 7.7% against the previous year. The level of export peaked at $X per litre in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Moldova (-0.6%), while the other leaders experienced a decline in the export price figures.

Rum Imports

Imports in CIS

In 2022, rum imports in the CIS declined modestly to X litres, dropping by -3.4% on 2021 figures. Overall, imports, however, saw a slight increase. The growth pace was the most rapid in 2017 with an increase of 113%. Over the period under review, imports reached the maximum at X litres in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, rum imports fell to $X in 2022. Over the period under review, imports showed a noticeable reduction. The pace of growth appeared the most rapid in 2017 with an increase of 95%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Russia dominates imports structure, accounting for X litres, which was near 93% of total imports in 2022. Belarus (X litres) and Kazakhstan (X litres) followed a long way behind the leaders.

Russia experienced a relatively flat trend pattern with regard to volume of imports of rum. At the same time, Belarus (+12.6%) and Kazakhstan (+3.6%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in the CIS, with a CAGR of +12.6% from 2012-2022. From 2012 to 2022, the share of Belarus increased by +2.3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported rum in the CIS, comprising 87% of total imports. The second position in the ranking was held by Belarus ($X), with a 7.1% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Russia totaled -4.1%. The remaining importing countries recorded the following average annual rates of imports growth: Belarus (+12.1% per year) and Kazakhstan (+0.9% per year).

Import Prices by Country

The import price in the CIS stood at $X per litre in 2022, shrinking by -1.6% against the previous year. Overall, the import price showed a perceptible shrinkage. The growth pace was the most rapid in 2021 when the import price increased by 8.7% against the previous year. Over the period under review, import prices hit record highs at $X per litre in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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