Russian Federation: Palm Oil Market 2025

Palm Oil Market Size in the Russian Federation

In 2022, after two years of growth, there was significant decline in the Russian palm oil market, when its value decreased by -15.5% to $X. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then contracted sharply in the following year.

Palm Oil Production in the Russian Federation

In value terms, palm oil production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production showed a deep setback. The most prominent rate of growth was recorded in 2020 when the production volume increased by 59% against the previous year. Palm oil production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Palm Oil Exports

Exports from the Russian Federation

In 2022, approx. X tons of palm oil were exported from Russia; shrinking by -23.8% compared with 2021. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 99% against the previous year. The exports peaked at X tons in 2021, and then declined markedly in the following year.

In value terms, palm oil exports dropped markedly to $X in 2022. Over the period under review, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 172% against the previous year. As a result, the exports attained the peak of $X, and then shrank significantly in the following year.

Exports by Country

Kazakhstan (X tons) was the main destination for palm oil exports from Russia, accounting for a 80% share of total exports. Moreover, palm oil exports to Kazakhstan exceeded the volume sent to the second major destination, Belarus (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Kazakhstan totaled +81.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+6.4% per year) and Kyrgyzstan (+124.0% per year).

In value terms, Kazakhstan ($X) remains the key foreign market for palm oil exports from Russia, comprising 78% of total exports. The second position in the ranking was held by Belarus ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Kazakhstan totaled +76.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+5.2% per year) and Kyrgyzstan (+120.1% per year).

Export Prices by Country

The average palm oil export price stood at $X per ton in 2022, reducing by -10.2% against the previous year. In general, the export price continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2021 an increase of 42%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Kazakhstan ($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 Belarus (-1.2%), while the prices for the other major destinations experienced a decline.

Palm Oil Imports

Imports into the Russian Federation

Palm oil imports into Russia shrank slightly to X tons in 2022, which is down by -3.4% against the previous year. Over the period under review, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% 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 +3.6% against 2020 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 26% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then fell in the following year.

In value terms, palm oil imports declined markedly to $X in 2022. In general, total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +54.5% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 60%. As a result, imports attained the peak of $X, and then fell rapidly in the following year.

Imports by Country

In 2022, Indonesia (X tons) was the main palm oil supplier to Russia, accounting for a 97% share of total imports. It was followed by the Netherlands (X tons), with a 0.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia amounted to +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-24.2% per year) and Malaysia (-27.7% per year).

In value terms, Indonesia ($X) constituted the largest supplier of palm oil to Russia, comprising 95% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 0.8% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Indonesia stood at +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-23.2% per year) and Malaysia (-27.3% per year).

Import Prices by Country

In 2022, the average palm oil import price amounted to $X per ton, reducing by -16% against the previous year. In general, the import price saw a slight setback. The growth pace was the most rapid in 2021 an increase of 49%. As a result, import price reached the peak level of $X per ton, and then shrank rapidly in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Indonesia ($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 (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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