Egypt: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Egypt

The Egyptian chemically modified oils market rose rapidly to $X in 2022, with an increase of 5.2% against the previous year. In general, consumption showed notable growth. Chemically modified oils consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Chemically Modified Oils Production in Egypt

In value terms, chemically modified oils production rose remarkably to $X in 2022 estimated in export price. Overall, production posted measured growth. The pace of growth was the most pronounced in 2019 with an increase of 32% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Chemically Modified Oils Exports

Exports from Egypt

In 2022, chemically modified oils exports from Egypt dropped to X tons, reducing by -8.9% compared with the previous year. In general, exports, however, posted a buoyant expansion. The growth pace was the most rapid in 2019 with an increase of 117% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, chemically modified oils exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2019 when exports increased by 102%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

The Netherlands (X tons) was the main destination for chemically modified oils exports from Egypt, accounting for a 74% share of total exports. Moreover, chemically modified oils exports to the Netherlands exceeded the volume sent to the second major destination, the UK (X tons), sevenfold. Belgium (X tons) ranked third in terms of total exports with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands totaled +29.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+59.1% per year) and Belgium (+85.4% per year).

In value terms, the Netherlands ($X) remains the key foreign market for animal or vegetable fats and oils chemically modified exports from Egypt, comprising 74% of total exports. The second position in the ranking was held by the UK ($X), with an 11% share of total exports. It was followed by Belgium, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands amounted to +40.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+51.4% per year) and Belgium (+125.2% per year).

Export Prices by Country

The average chemically modified oils export price stood at $X per ton in 2022, growing by 29% against the previous year. Over the period under review, the export price recorded a temperate expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 80% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Netherlands ($X per ton) and Spain ($X per ton), while the average price for exports to the UK ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+51.1%), while the prices for the other major destinations experienced more modest paces of growth.

Chemically Modified Oils Imports

Imports into Egypt

After two years of decline, overseas purchases of animal or vegetable fats and oils chemically modified increased by 25% to X tons in 2022. Overall, imports posted buoyant growth. The pace of growth was the most pronounced in 2018 when imports increased by 44% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, chemically modified oils imports skyrocketed to $X in 2022. In general, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +8.9% 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 +82.8% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Argentina (X tons), Brazil (X tons) and Turkey (X tons) were the main suppliers of chemically modified oils imports to Egypt, together accounting for 67% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +98.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest chemically modified oils suppliers to Egypt were Argentina ($X), Brazil ($X) and Turkey ($X), with a combined 67% share of total imports.

Turkey, with a CAGR of +85.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average chemically modified oils import price amounted to $X per ton, with an increase of 33% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Argentina ($X per ton) and India ($X per ton), while the price for China ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (-0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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