Romania: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in Romania

The Romanian margarine and shortening market expanded modestly to $X in 2022, with an increase of 1.7% against the previous year. In general, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.1% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Margarine And Shortening Production in Romania

In value terms, margarine and shortening production totaled $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 32%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Margarine And Shortening Exports

Exports from Romania

In 2022, shipments abroad of margarine and shortening increased by 3.1% to X tons, rising for the second year in a row after five years of decline. Overall, exports, however, faced a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 41%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, margarine and shortening exports soared to $X in 2022. In general, exports, however, recorded a abrupt decline. The growth pace was the most rapid in 2021 when exports increased by 62%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Bulgaria (X tons), Greece (X tons) and Moldova (X tons) were the main destinations of margarine and shortening exports from Romania, with a combined 55% share of total exports. Hungary, Serbia, Slovenia, Bosnia and Herzegovina, the Czech Republic, the UK, Georgia, Lebanon, Poland and Ukraine lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the biggest increases were recorded for Georgia (with a CAGR of +1,265.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for margarine and shortening exported from Romania were Bulgaria ($X), Greece ($X) and Moldova ($X), together comprising 55% of total exports. Hungary, Serbia, Slovenia, the Czech Republic, Bosnia and Herzegovina, the UK, Lebanon, Georgia, Poland and Ukraine lagged somewhat behind, together accounting for a further 38%.

Among the main countries of destination, Georgia, with a CAGR of +1,781.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average margarine and shortening export price amounted to $X per ton, growing by 27% against the previous year. In general, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, margarine and shortening export price increased by +65.4% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (+37.8%), while the prices for the other major destinations experienced more modest paces of growth.

Margarine And Shortening Imports

Imports into Romania

In 2022, imports of margarine and shortening into Romania dropped modestly to X tons, declining by -2.9% on the previous year's figure. The total import volume increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 25%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, margarine and shortening imports surged to $X in 2022. Overall, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 +97.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 65% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Hungary (X tons) constituted the largest supplier of margarine and shortening to Romania, accounting for a 29% share of total imports. Moreover, margarine and shortening imports from Hungary exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. Turkey (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Hungary totaled +25.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-5.1% per year) and Turkey (+45.8% per year).

In value terms, Hungary ($X) constituted the largest supplier of margarine and shortening to Romania, comprising 26% of total imports. The second position in the ranking was taken by Sweden ($X), with a 13% share of total imports. It was followed by Poland, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Hungary amounted to +28.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+16.5% per year) and Poland (+0.2% per year).

Import Prices by Country

The average margarine and shortening import price stood at $X per ton in 2022, increasing by 24% against the previous year. Overall, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, margarine and shortening import price increased by +82.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 35% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+17.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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