Eastern Europe: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in Eastern Europe

In 2022, the East European margarine and shortening market increased by 10% to $X, rising for the second year in a row after three years of decline. In general, consumption, however, recorded a pronounced reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Margarine And Shortening Production in Eastern Europe

In value terms, margarine and shortening production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2017 when the production volume increased by 9.9% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Margarine And Shortening Exports

Exports in Eastern Europe

In 2022, overseas shipments of margarine and shortening decreased by -7% to X tons for the first time since 2015, thus ending a six-year rising trend. Total exports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.3% against 2015 indices. The growth pace was the most rapid in 2021 with an increase of 15%. As a result, the exports reached the peak of X tons, and then fell in the following year.

In value terms, margarine and shortening exports expanded to $X in 2022. Total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +114.9% against 2015 indices. The growth pace was the most rapid in 2021 with an increase of 44%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Russia (X tons) and Poland (X tons) dominates exports structure, together making up 85% of total exports. Ukraine (X tons), Hungary (X tons) and Bulgaria (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Hungary (with a CAGR of +12.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest margarine and shortening supplying countries in Eastern Europe were Poland ($X), Russia ($X) and Ukraine ($X), with a combined 87% share of total exports. Hungary and Bulgaria lagged somewhat behind, together accounting for a further 5.8%.

Bulgaria, with a CAGR of +12.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, with an increase of 12% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 26%. The level of export 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 exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+4.9%), while the other leaders experienced more modest paces of growth.

Margarine And Shortening Imports

Imports in Eastern Europe

In 2022, purchases abroad of margarine and shortening increased by 1.4% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 10% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, margarine and shortening imports soared to $X in 2022. Total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.1% 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 +58.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 29% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Poland (X tons), distantly followed by Hungary (X tons), the Czech Republic (X tons), Russia (X tons), Bulgaria (X tons), Romania (X tons), Slovakia (X tons) and Belarus (X tons) were the main importers of margarine and shortening, together committing 90% of total imports.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +3.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) constitutes the largest market for imported margarine and shortening in Eastern Europe, comprising 29% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 13% share of total imports. It was followed by Hungary, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Poland stood at +3.5%. In the other countries, the average annual rates were as follows: the Czech Republic (+1.7% per year) and Hungary (+4.3% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, rising by 20% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2021 when the import price increased by 23% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Poland ($X per ton) and Russia ($X per ton), while Hungary ($X per ton) and Bulgaria ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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