Greece: Market for Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters 2024

Market Size for Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters in Greece

In 2021, the Greek market for oleic, linoleic or linolenic acids, their salts and esters decreased by -5% to $X, falling for the second consecutive year after five years of growth. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -13.4% against 2019 indices. Oleic, linoleic or linolenic acids consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters in Greece

In value terms, oleic, linoleic or linolenic acids production expanded markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 23% against the previous year. Oleic, linoleic or linolenic acids production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters

Exports from Greece

In 2021, shipments abroad of oleic, linoleic or linolenic acids, their salts and esters increased by 34% to X tons, rising for the third consecutive year after four years of decline. Overall, total exports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +88.7% against 2018 indices. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, oleic, linoleic or linolenic acids exports skyrocketed to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by 46%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Marshall Islands (X tons) was the main destination for oleic, linoleic or linolenic acids exports from Greece, accounting for a 86% share of total exports. Moreover, oleic, linoleic or linolenic acids exports to Marshall Islands exceeded the volume sent to the second major destination, Turkey (X tons), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to Marshall Islands stood at +57.6%.

In value terms, Marshall Islands ($X) remains the key foreign market for oleic, linoleic or linolenic acids, their salts and esters exports from Greece, comprising 95% of total exports. The second position in the ranking was held by Turkey ($X), with a 3.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Marshall Islands amounted to +51.2%.

Export Prices by Country

The average export price for oleic, linoleic or linolenic acids, their salts and esters stood at $X per ton in 2021, with a decrease of -4.2% against the previous year. Overall, the export price continues to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2019 an increase of 13%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Marshall Islands ($X per ton), while the average price for exports to Turkey totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+23.6%), while the prices for the other major destinations experienced a decline.

Imports of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters

Imports into Greece

After three years of growth, purchases abroad of oleic, linoleic or linolenic acids, their salts and esters decreased by -31.6% to X tons in 2021. Over the period under review, imports, however, posted significant growth. The pace of growth was the most pronounced in 2014 with an increase of 113% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020, and then shrank sharply in the following year.

In value terms, oleic, linoleic or linolenic acids imports contracted to $X in 2021. In general, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 101% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2021, Italy (X tons) constituted the largest oleic, linoleic or linolenic acids supplier to Greece, accounting for a 86% share of total imports. Moreover, oleic, linoleic or linolenic acids imports from Italy exceeded the figures recorded by the second-largest supplier, Belgium (X tons), more than tenfold. Germany (X tons) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume from Italy totaled +32.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+46.2% per year) and Germany (+42.0% per year).

In value terms, Italy ($X) constituted the largest supplier of oleic, linoleic or linolenic acids, their salts and esters to Greece, comprising 70% of total imports. The second position in the ranking was taken by Germany ($X), with a 13% share of total imports. It was followed by Belgium, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy totaled +17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+46.8% per year) and Belgium (+47.4% per year).

Import Prices by Country

In 2021, the average import price for oleic, linoleic or linolenic acids, their salts and esters amounted to $X per ton, rising by 32% against the previous year. Over the period under review, the import price, however, saw a abrupt contraction. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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