Russian Federation: Baking Soda Market 2024

Baking Soda Market Size in the Russian Federation

The Russian baking soda market dropped to $X in 2021, which is down by -13% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Baking soda consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Baking Soda Production in the Russian Federation

In value terms, baking soda production rose notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the production volume increased by 34% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Baking Soda Exports

Exports from the Russian Federation

In 2021, baking soda exports from Russia soared to X tons, jumping by 53% compared with 2020. Overall, exports saw a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, baking soda exports surged to $X in 2021. Over the period under review, exports showed a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons) was the main destination for baking soda exports from Russia, accounting for a 21% share of total exports. Moreover, baking soda exports to India exceeded the volume sent to the second major destination, Cyprus (X tons), threefold. The third position in this ranking was taken by Kazakhstan (X tons), with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to India totaled +305.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+27.1% per year) and Kazakhstan (+13.1% per year).

In value terms, the largest markets for baking soda exported from Russia were India ($X), Kazakhstan ($X) and Ukraine ($X), with a combined 32% share of total exports. Belarus, Cyprus, Hungary, Belgium, Lithuania, Peru, Denmark, Colombia, Poland and Norway lagged somewhat behind, together accounting for a further 36%.

Norway, with a CAGR of +387.4%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average baking soda export price stood at $X per ton in 2021, shrinking by -13.9% against the previous year. In general, the export price recorded a pronounced decrease. The growth pace was the most rapid in 2019 when the average export price increased by 15%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Baking Soda Imports

Imports into the Russian Federation

In 2021, supplies from abroad of baking soda decreased by -66.7% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, imports, however, recorded significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 409%. As a result, imports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, baking soda imports reduced remarkably to $X in 2021. Over the period under review, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 410% against the previous year. As a result, imports attained the peak of $X, and then contracted remarkably in the following year.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of baking soda to Russia, with a 50% share of total imports. Moreover, baking soda imports from Turkey exceeded the figures recorded by the second-largest supplier, Poland (X tons), fourfold. The third position in this ranking was taken by Finland (X tons), with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey stood at +26.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+48.8% per year) and Finland (+5.4% per year).

In value terms, Poland ($X), Turkey ($X) and the Czech Republic ($X) constituted the largest baking soda suppliers to Russia, together accounting for 40% of total imports.

Turkey, with a CAGR of +44.7%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average baking soda import price amounted to $X per ton, with an increase of 152% against the previous year. Overall, the import price showed a slight increase. The import price peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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