Slovakia: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in Slovakia

In 2022, the Slovak margarine and shortening market increased by 20% to $X, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Margarine And Shortening Production in Slovakia

In value terms, margarine and shortening production reduced modestly to $X in 2022 estimated in export price. Overall, the total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.0% against 2020 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 139% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Margarine And Shortening Exports

Exports from Slovakia

Margarine and shortening exports from Slovakia expanded remarkably to X tons in 2022, with an increase of 13% compared with the year before. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 463% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, margarine and shortening exports surged to $X in 2022. Over the period under review, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2019 when exports increased by 366% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Hungary (X tons), Poland (X tons) and the Czech Republic (X tons) were the main destinations of margarine and shortening exports from Slovakia, together comprising 90% 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 Hungary (with a CAGR of +126.1%), while the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Poland ($X) and the Czech Republic ($X) appeared to be the largest markets for margarine and shortening exported from Slovakia worldwide, together comprising 89% of total exports.

In terms of the main countries of destination, Hungary, with a CAGR of +116.8%, 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 margarine and shortening export price amounted to $X per ton, growing by 30% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Slovenia ($X per ton) and Hungary ($X per ton), while the average price for exports to the Czech Republic ($X per ton) and Croatia ($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 Slovenia (+25.1%), while the prices for the other major destinations experienced more modest paces of growth.

Margarine And Shortening Imports

Imports into Slovakia

In 2022, the amount of margarine and shortening imported into Slovakia contracted slightly to X tons, falling by -4.6% against 2021 figures. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 21% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, margarine and shortening imports skyrocketed to $X in 2022. Overall, total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 +61.0% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland (X tons), Germany (X tons) and Austria (X tons) were the main suppliers of margarine and shortening imports to Slovakia, with a combined 74% share of total imports. The Netherlands, Bulgaria, Sweden, the Czech Republic and Belgium lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +98.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest margarine and shortening suppliers to Slovakia were Poland ($X), Germany ($X) and the Netherlands ($X), together accounting for 74% of total imports. Austria, Bulgaria, Sweden, the Czech Republic and Belgium lagged somewhat behind, together accounting for a further 19%.

In terms of the main suppliers, Bulgaria, with a CAGR of +234.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average margarine and shortening import price stood at $X per ton in 2022, with an increase of 41% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% 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 +66.6% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+68.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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