Russian Federation: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in the Russian Federation

The Russian chemically modified oils market shrank modestly to $X in 2022, waning by -4.4% against the previous year. Overall, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.8% 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 -8.0% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Chemically Modified Oils Production in the Russian Federation

In value terms, chemically modified oils production declined slightly to $X in 2022 estimated in export price. In general, the total production indicated a pronounced expansion from 2012 to 2022: its value 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, production decreased by -13.2% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 25% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Chemically Modified Oils Exports

Exports from the Russian Federation

In 2022, approx. X tons of animal or vegetable fats and oils chemically modified were exported from Russia; waning by -7.4% against the previous year's figure. Over the period under review, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 207% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, chemically modified oils exports dropped markedly to $X in 2022. Overall, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 272%. Over the period under review, the exports reached the maximum at $X in 2021, and then declined dramatically in the following year.

Exports by Country

Poland (X tons), Germany (X tons) and Lithuania (X tons) were the main destinations of chemically modified oils exports from Russia, with a combined 79% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +118.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chemically modified oils exported from Russia were Poland ($X), Germany ($X) and Lithuania ($X), together comprising 79% of total exports.

In terms of the main countries of destination, Poland, with a CAGR of +124.4%, recorded the highest growth rate of 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 chemically modified oils export price amounted to $X per ton, falling by -17.5% against the previous year. In general, the export price saw a slight contraction. The pace of growth was the most pronounced in 2021 when the average export price increased by 58%. As a result, the export price reached the peak level of $X per ton, and then fell remarkably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Denmark ($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 Finland (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Chemically Modified Oils Imports

Imports into the Russian Federation

In 2022, approx. X tons of animal or vegetable fats and oils chemically modified were imported into Russia; waning by -14.6% compared with 2021 figures. Over the period under review, imports saw a slight contraction. The pace of growth appeared the most rapid in 2018 with an increase of 44%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, chemically modified oils imports contracted sharply to $X in 2022. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 69% against the previous year. As a result, imports attained the peak of $X, and then shrank significantly in the following year.

Imports by Country

Kazakhstan (X tons), Argentina (X tons) and Germany (X tons) were the main suppliers of chemically modified oils imports to Russia, with a combined 73% share of total imports. Brazil, China, Canada, India, Belarus and Italy lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +255.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of animal or vegetable fats and oils chemically modified to Russia, comprising 39% of total imports. The second position in the ranking was taken by Argentina ($X), with a 17% share of total imports. It was followed by Kazakhstan, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+18.1% per year) and Kazakhstan (+46.4% per year).

Import Prices by Country

In 2022, the average chemically modified oils import price amounted to $X per ton, declining by -6.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2013 an increase of 29%. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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