Eastern Europe: Oleo Oils Market 2024

Oleo Oils Market Size in Eastern Europe

The East European oleo oils market soared to $X in 2021, picking up by 130% against the previous year. Over the period under review, consumption showed a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Oleo Oils Production in Eastern Europe

In value terms, oleo oils production soared to $X in 2021 estimated in export price. The total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +134.7% against 2017 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Oleo Oils Exports

Exports in Eastern Europe

In 2021, approx. X tons of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil were exported in Eastern Europe; waning by -37.2% on the year before. In general, exports showed a deep downturn. The pace of growth appeared the most rapid in 2018 when exports increased by 22% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, oleo oils exports shrank notably to $X in 2021. Over the period under review, exports recorded a precipitous setback. The pace of growth was the most pronounced in 2018 with an increase of 31% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Belarus represented the main exporting country with an export of around X tons, which reached 85% of total exports. It was distantly followed by Romania (X tons), generating a 14% share of total exports.

Belarus was also the fastest-growing in terms of the lard stearin, lard oil, oleostearin, oleo-oil and tallow oil exports, with a CAGR of +20.0% from 2012 to 2021. Romania (-11.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Belarus increased by +75 percentage points.

In value terms, Belarus ($X) remains the largest oleo oils supplier in Eastern Europe, comprising 77% of total exports. The second position in the ranking was held by Romania ($X), with an 11% share of total exports.

In Belarus, oleo oils exports expanded at an average annual rate of +1.1% over the period from 2012-2021.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, reducing by -86.2% against the previous year. In general, the export price continues to indicate a sharp contraction. The most prominent rate of growth was recorded in 2018 an increase of 7%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Belarus ($X per ton), while Romania amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (-15.8%).

Oleo Oils Imports

Imports in Eastern Europe

In 2021, the amount of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil imported in Eastern Europe surged to X tons, increasing by 83% on the previous year's figure. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 140% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, oleo oils imports surged to $X in 2021. In general, imports enjoyed measured growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland prevails in imports structure, accounting for X tons, which was near 89% of total imports in 2021. It was distantly followed by Romania (X tons), generating a 5.3% share of total imports. Lithuania (X tons) and Bulgaria (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to oleo oils imports into Poland stood at +3.8%. At the same time, Lithuania (+246.4%) and Romania (+17.9%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +246.4% from 2012-2021. By contrast, Bulgaria (-12.7%) illustrated a downward trend over the same period. While the share of Poland (+20 p.p.), Romania (+4 p.p.) and Lithuania (+3.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Bulgaria (-4.8 p.p.) displayed negative dynamics.

In value terms, Poland ($X) constitutes the largest market for imported lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in Eastern Europe, comprising 83% of total imports. The second position in the ranking was held by Romania ($X), with a 13% share of total imports. It was followed by Lithuania, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Poland totaled +7.1%. In the other countries, the average annual rates were as follows: Romania (+18.6% per year) and Lithuania (+187.1% per year).

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per ton, increasing by 45% against the previous year. Import price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, oleo oils import price increased by +92.3% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+3.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :