Russian Federation: Glutamic Acid Market 2024

Glutamic Acid Market Size in the Russian Federation

The Russian glutamic acid market contracted to $X in 2022, falling by -9.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Glutamic Acid Exports

Exports from the Russian Federation

In 2022, approx. X tons of glutamic acid and its salts were exported from Russia; increasing by 18% on the year before. In general, exports showed a prominent expansion. The pace of growth appeared the most rapid in 2019 with an increase of 176%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, glutamic acid exports rose to $X in 2022. Over the period under review, exports saw a resilient expansion. The growth pace was the most rapid in 2018 when exports increased by 244% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Kazakhstan (X tons) was the main destination for glutamic acid exports from Russia, accounting for a 56% share of total exports. Moreover, glutamic acid exports to Kazakhstan exceeded the volume sent to the second major destination, Kyrgyzstan (X tons), threefold. The third position in this ranking was held by Ukraine (X tons), with an 18% share.

From 2012 to 2022, the average annual growth rate of volume to Kazakhstan totaled +23.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+181.8% per year) and Ukraine (+23.2% per year).

In value terms, Kazakhstan ($X) emerged as the key foreign market for glutamic acid and its salts exports from Russia, comprising 55% of total exports. The second position in the ranking was held by Kyrgyzstan ($X), with a 23% share of total exports. It was followed by Ukraine, with a 17% share.

From 2012 to 2022, the average annual growth rate of value to Kazakhstan totaled +16.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+140.3% per year) and Ukraine (+17.8% per year).

Export Prices by Country

In 2022, the average glutamic acid export price amounted to $X per ton, declining by -13.6% against the previous year. In general, the export price continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2021 an increase of 31%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Belarus ($X per ton) and Georgia ($X per ton), while the average price for exports to Ukraine ($X per ton) and Kazakhstan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (-1.8%), while the prices for the other major destinations experienced a decline.

Glutamic Acid Imports

Imports into the Russian Federation

In 2022, after five years of growth, there was significant decline in purchases abroad of glutamic acid and its salts, when their volume decreased by -5.1% to X tons. Overall, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.4% 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 +74.8% against 2016 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 53% against the previous year. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, glutamic acid imports fell to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 28% against the previous year. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, China (X tons) was the main glutamic acid supplier to Russia, accounting for a 93% share of total imports. Moreover, glutamic acid imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+2.8% per year) and Indonesia (-9.4% per year).

In value terms, China ($X) constituted the largest supplier of glutamic acid and its salts to Russia, comprising 93% of total imports. The second position in the ranking was taken by France ($X), with a 4.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-0.9% per year) and Indonesia (-8.4% per year).

Import Prices by Country

The average glutamic acid import price stood at $X per ton in 2022, which is down by -6.3% against the previous year. Overall, the import price showed a perceptible slump. The pace of growth appeared the most rapid in 2021 an increase of 15% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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