Hungary: 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 Hungary

After two years of growth, the Hungarian market for oleic, linoleic or linolenic acids, their salts and esters decreased by -7.9% to $X in 2021. In general, consumption, however, showed a significant increase. Oleic, linoleic or linolenic acids consumption peaked at $X in 2020, and then contracted in the following year.

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

Exports from Hungary

In 2021, overseas shipments of oleic, linoleic or linolenic acids, their salts and esters increased by 102% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports posted a significant increase. The growth pace was the most rapid in 2017 when exports increased by 3,318% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, oleic, linoleic or linolenic acids exports surged to $X in 2021. Over the period under review, exports posted a resilient expansion. The pace of growth was the most pronounced in 2017 when exports increased by 1,225% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the near future.

Exports by Country

Slovakia (X tons) was the main destination for oleic, linoleic or linolenic acids exports from Hungary, accounting for a 98% share of total exports. It was followed by Germany (X kg), with a 2.1% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Slovakia amounted to +77.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+3,519.0% per year) and Romania (-53.5% per year).

In value terms, Slovakia ($X) remains the key foreign market for oleic, linoleic or linolenic acids, their salts and esters exports from Hungary, comprising 94% of total exports. The second position in the ranking was taken by Germany ($X), with a 4.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Slovakia totaled +68.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+1,958.8% per year) and Romania (-58.0% per year).

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, approximately mirroring the previous year. Over the period under review, the export price continues to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2014 an increase of 256% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Croatia (+1.1%), while the prices for the other major destinations experienced a decline.

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

Imports into Hungary

In 2021, overseas purchases of oleic, linoleic or linolenic acids, their salts and esters decreased by -20.7% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 178% against the previous year. Imports peaked at X tons in 2020, and then shrank sharply in the following year.

In value terms, oleic, linoleic or linolenic acids imports expanded modestly to $X in 2021. Overall, imports, however, saw significant growth. The growth pace was the most rapid in 2017 when imports increased by 117%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, the Czech Republic (X tons) constituted the largest supplier of oleic, linoleic or linolenic acids to Hungary, accounting for a 42% share of total imports. Moreover, oleic, linoleic or linolenic acids imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Slovakia (X tons), twofold. The third position in this ranking was held by Italy (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from the Czech Republic stood at +321.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+343.4% per year) and Italy (+19.2% per year).

In value terms, the Czech Republic ($X), Slovakia ($X) and Germany ($X) appeared to be the largest oleic, linoleic or linolenic acids suppliers to Hungary, with a combined 78% share of total imports.

The Czech Republic, with a CAGR of +397.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for oleic, linoleic or linolenic acids, their salts and esters stood at $X per ton in 2021, increasing by 31% against the previous year. Overall, the import price, however, continues to indicate a pronounced downturn. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for France ($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 (+18.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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