Slovenia: Crude Groundnut Oil Market 2024

Crude Groundnut Oil Market Size in Slovenia

In 2022, after two years of growth, there was significant decline in the Slovene crude groundnut oil market, when its value decreased by -41.8% to $X. In general, consumption, however, posted a buoyant increase. Crude groundnut oil consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Crude Groundnut Oil Exports

Exports from Slovenia

For the third consecutive year, Slovenia recorded decline in overseas shipments of crude groundnut oil, which decreased by -98.5% to X kg in 2022. Over the period under review, exports continue to indicate a dramatic setback. The most prominent rate of growth was recorded in 2013 with an increase of 56%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude groundnut oil exports plummeted to $X in 2022. Overall, exports faced a precipitous contraction. The most prominent rate of growth was recorded in 2013 with an increase of 58% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bosnia and Herzegovina (X kg) was the main destination for crude groundnut oil exports from Slovenia, with a 85% share of total exports. Moreover, crude groundnut oil exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Switzerland (X kg), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bosnia and Herzegovina amounted to +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (-18.4% per year) and Serbia (0.0% per year).

In value terms, Bosnia and Herzegovina ($X) emerged as the key foreign market for crude groundnut oil exports from Slovenia, comprising 85% of total exports. The second position in the ranking was held by Switzerland ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Bosnia and Herzegovina amounted to +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+55.1% per year) and Serbia (0.0% per year).

Export Prices by Country

The average crude groundnut oil export price stood at $X per ton in 2022, jumping by 780% against the previous year. Overall, the export price showed a significant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Serbia ($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 Switzerland (+89.9%), while the prices for the other major destinations experienced a decline.

Crude Groundnut Oil Imports

Imports into Slovenia

In 2022, imports of crude groundnut oil into Slovenia contracted remarkably to X tons, shrinking by -52.2% compared with the previous year's figure. Over the period under review, imports, however, showed significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 10,160%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, crude groundnut oil imports shrank notably to $X in 2022. Overall, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 2,858% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest crude groundnut oil supplier to Slovenia, with a 80% share of total imports. Moreover, crude groundnut oil imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X kg), fivefold.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +118.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+21.6% per year) and Spain (0.0% per year).

In value terms, Germany ($X) constituted the largest supplier of crude groundnut oil to Slovenia, comprising 79% of total imports. The second position in the ranking was taken by Italy ($X), with a 17% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +70.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+29.5% per year) and Spain (0.0% per year).

Import Prices by Country

In 2022, the average crude groundnut oil import price amounted to $X per ton, dropping by -6.1% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 115% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Germany ($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 United States (+8.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform