Eastern Europe: Groundnut Oil Market 2025

Groundnut Oil Market Size in Eastern Europe

In 2021, the East European groundnut oil market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. The market value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Groundnut Oil Production in Eastern Europe

In value terms, groundnut oil production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 18%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Groundnut Oil Exports

Exports in Eastern Europe

In 2021, overseas shipments of groundnut oil decreased by -64.4% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2020 when exports increased by 171% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, groundnut oil exports soared to $X in 2021. In general, exports recorded a noticeable reduction. The pace of growth appeared the most rapid in 2013 with an increase of 29% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Bulgaria (X tons) was the key exporter of groundnut oil, making up 74% of total exports. Ukraine (X tons) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Latvia (7.2%). The following exporters - the Czech Republic (X tons), Lithuania (X tons) and Poland (X tons) - each finished at a 6.2% share of total exports.

Bulgaria was also the fastest-growing in terms of the groundnut oil exports, with a CAGR of +65.5% from 2012 to 2021. At the same time, Latvia (+53.5%), Lithuania (+45.2%) and the Czech Republic (+1.2%) displayed positive paces of growth. Poland experienced a relatively flat trend pattern. By contrast, Ukraine (-5.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Bulgaria, Latvia and Lithuania increased by +74, +7.1 and +2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bulgaria ($X) remains the largest groundnut oil supplier in Eastern Europe, comprising 78% of total exports. The second position in the ranking was taken by Latvia ($X), with a 5.8% share of total exports. It was followed by Ukraine, with a 5.1% share.

In Bulgaria, groundnut oil exports increased at an average annual rate of +66.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Latvia (+49.3% per year) and Ukraine (-15.0% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, rising by 245% against the previous year. Over the period under review, the export price enjoyed a notable increase. Over the period under review, the export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+15.3%), while the other leaders experienced mixed trends in the export price figures.

Groundnut Oil Imports

Imports in Eastern Europe

In 2021, purchases abroad of groundnut oil was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Overall, imports posted modest growth. The most prominent rate of growth was recorded in 2016 when imports increased by 178%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, groundnut oil imports skyrocketed to $X in 2021. Over the period under review, imports saw perceptible growth. The most prominent rate of growth was recorded in 2016 with an increase of 209%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Poland (X tons), distantly followed by the Czech Republic (X tons), Romania (X tons), Hungary (X tons) and Lithuania (X tons) represented the largest importers of groundnut oil, together comprising 84% of total imports. The following importers - Bulgaria (X tons) and Slovakia (X tons) - together made up 7.4% of total imports.

From 2012 to 2021, the biggest increases were recorded for Lithuania (with a CAGR of +23.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the Czech Republic ($X) and Romania ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 64% share of total imports. These countries were followed by Hungary, Bulgaria, Lithuania and Slovakia, which together accounted for a further 25%.

Among the main importing countries, Bulgaria, with a CAGR of +18.8%, recorded the highest growth rate of 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

In 2021, the import price in Eastern Europe amounted to $X per ton, surging by 23% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2017 an increase of 40% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Bulgaria ($X per ton), while Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+24.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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