Romania: Groundnut Oil Market 2024

Groundnut Oil Market Size in Romania

The Romanian groundnut oil market fell slightly to $X in 2021, shrinking by -1.7% against the previous year. In general, consumption continues to indicate a strong increase. Over the period under review, the market attained the peak level at $X in 2020, and then contracted in the following year.

Groundnut Oil Production in Romania

In value terms, groundnut oil production declined to $X in 2021 estimated in export price. In general, the total production indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +7.1% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 27% against the previous year. Groundnut oil production peaked at $X in 2020, and then reduced in the following year.

Groundnut Oil Exports

Exports from Romania

Groundnut oil exports from Romania surged to X kg in 2021, growing by 52% compared with 2020. In general, exports, however, continue to indicate a precipitous decline. The pace of growth was the most pronounced in 2013 with an increase of 113%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, groundnut oil exports soared to $X in 2021. Over the period under review, exports, however, faced a sharp reduction. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bulgaria (X kg) was the main destination for groundnut oil exports from Romania, with a 89% share of total exports. Moreover, groundnut oil exports to Bulgaria exceeded the volume sent to the second major destination, Italy (X kg), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bulgaria amounted to +21.5%.

In value terms, Bulgaria ($X) emerged as the key foreign market for groundnut oil exports from Romania, comprising 98% of total exports. The second position in the ranking was taken by Italy ($X), with a 2.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Bulgaria amounted to -29.4%.

Export Prices by Country

The average groundnut oil export price stood at $X per ton in 2021, waning by -5.4% against the previous year. Over the period under review, the export price, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by 146% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+1.2%).

Groundnut Oil Imports

Imports into Romania

In 2021, groundnut oil imports into Romania skyrocketed to X tons, growing by 16% compared with the previous year. In general, imports, however, showed a mild decline. The most prominent rate of growth was recorded in 2016 when imports increased by 177% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, groundnut oil imports soared to $X in 2021. Over the period under review, imports continue to indicate a notable expansion. The most prominent rate of growth was recorded in 2016 with an increase of 123%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, France (X tons) constituted the largest groundnut oil supplier to Romania, accounting for a 75% share of total imports. Moreover, groundnut oil imports from France exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. Greece (X tons) ranked third in terms of total imports with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France amounted to +34.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+30.0% per year) and Greece (+20.7% per year).

In value terms, the largest groundnut oil suppliers to Romania were France ($X), Italy ($X) and Greece ($X), with a combined 93% share of total imports. These countries were followed by Austria, Croatia and Hungary, which together accounted for a further 4%.

Austria, with a CAGR of +51.8%, recorded 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

The average groundnut oil import price stood at $X per ton in 2021, growing by 37% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, groundnut oil import price increased by +91.3% against 2018 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 59% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Croatia ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Croatia (+551.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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