CIS: Vegetable Oils Market 2024

Vegetable Oils Market Size in CIS

The CIS vegetable oils market rose markedly to $X in 2022, surging by X% against the previous year. Overall, consumption, however, saw a deep setback. 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 CIS

In value terms, vegetable oils production shrank modestly to $X in 2022 estimated in export price. In general, production showed a abrupt setback. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Vegetable Oils Exports

Exports in CIS

After two years of growth, overseas shipments of vegetable fats and oils decreased by X% to X tons in 2022. In general, exports, however, posted a prominent increase. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then shrank remarkably in the following year.

In value terms, vegetable oils exports reduced markedly to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then dropped markedly in the following year.

Exports by Country

Russia dominates exports structure, accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Azerbaijan (X tons), mixing up an X% share of total exports.

Russia was also the fastest-growing in terms of the vegetable fats and oils exports, with a CAGR of X% from 2012 to 2022. Azerbaijan (X%) illustrated a downward trend over the same period. While the share of Russia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Azerbaijan (X p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest vegetable oils supplier in the CIS, comprising X% of total exports. The second position in the ranking was taken by Azerbaijan ($X), with a X% share of total exports.

In Russia, vegetable oils exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price saw a abrupt downturn. The pace of growth was the most pronounced in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Azerbaijan ($X per ton), while Russia totaled $X per ton.

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

Vegetable Oils Imports

Imports in CIS

Vegetable oils imports shrank modestly to X tons in 2022, with a decrease of X% on the previous year. Total imports indicated a notable increase from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 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 dropped slightly to $X in 2022. Total imports indicated a perceptible increase from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

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

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

In value terms, Uzbekistan ($X), Russia ($X) and Belarus ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Among the main importing countries, Uzbekistan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

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 Belarus ($X per ton), while Russia ($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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