Slovakia: Vegetable Oils Market 2024

Vegetable Oils Market Size in Slovakia

In 2022, the Slovak vegetable oils market increased by X% to $X, rising for the third consecutive year after two years of decline. In general, consumption saw a strong increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Vegetable Oils Production in Slovakia

In value terms, vegetable oils production contracted modestly to $X in 2022 estimated in export price. In general, production saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Vegetable Oils Exports

Exports from Slovakia

In 2022, the amount of vegetable fats and oils exported from Slovakia soared to X tons, jumping by X% compared with 2021. In general, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, vegetable oils exports skyrocketed to $X in 2022. Overall, exports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The Czech Republic (X tons) was the main destination for vegetable oils exports from Slovakia, accounting for a X% share of total exports. It was followed by Germany (X tons), with a X% share of total exports. The third position in this ranking was taken by Hungary (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the Czech Republic amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Hungary (X% per year).

In value terms, the Czech Republic ($X) remains the key foreign market for vegetable fats and oils exports from Slovakia, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by Hungary, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the Czech Republic stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Hungary (X% per year).

Export Prices by Country

In 2022, the average vegetable oils export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to the Czech Republic ($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 Poland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Oils Imports

Imports into Slovakia

In 2022, the amount of vegetable fats and oils imported into Slovakia skyrocketed to X tons, rising by X% against the year before. Overall, imports showed a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, vegetable oils imports soared to $X in 2022. Over the period under review, imports saw buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Poland (X tons) and the Netherlands (X tons) were the main suppliers of vegetable oils imports to Slovakia, together accounting for X% of total imports. Croatia, Hungary, the Czech Republic and Sweden lagged somewhat behind, together accounting for a further X%.

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

In value terms, Germany ($X), Poland ($X) and the Netherlands ($X) were the largest vegetable oils suppliers to Slovakia, together comprising X% of total imports. Croatia, the Czech Republic, Hungary and Sweden lagged somewhat behind, together accounting for a further X%.

Croatia, with a CAGR of X%, saw 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 2022, the average vegetable oils import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable oils import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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