Uzbekistan: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Uzbekistan

The Uzbek chemically modified oils market fell notably to $X in 2022, with a decrease of -92.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a precipitous contraction. Chemically modified oils consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Chemically Modified Oils Exports

Exports from Uzbekistan

In 2022, the amount of animal or vegetable fats and oils chemically modified exported from Uzbekistan surged to X tons, rising by 991% compared with 2021. Over the period under review, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, chemically modified oils exports skyrocketed to $X in 2022. In general, exports posted a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons) was the main destination for chemically modified oils exports from Uzbekistan, with a 90% share of total exports. Moreover, chemically modified oils exports to the Netherlands exceeded the volume sent to the second major destination, Tajikistan (X tons), more than tenfold.

From 2017 to 2022, the average annual rate of growth in terms of volume to the Netherlands stood at +319,980.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tajikistan (+6.8% per year) and Afghanistan (-12.0% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for animal or vegetable fats and oils chemically modified exports from Uzbekistan, comprising 86% of total exports. The second position in the ranking was held by Tajikistan ($X), with a 13% share of total exports.

From 2017 to 2022, the average annual rate of growth in terms of value to the Netherlands amounted to +94,968.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tajikistan (+24.4% per year) and Afghanistan (-33.0% per year).

Export Prices by Country

In 2022, the average chemically modified oils export price amounted to $X per ton, declining by -25.1% against the previous year. Overall, export price indicated mild growth from 2017 to 2022: its price increased at an average annual rate of +1.9% over the last five-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chemically modified oils export price increased by +8.7% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of 45%. As a result, the export price reached the peak level of $X per ton, and then declined markedly in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Tajikistan ($X per ton), while the average price for exports to Afghanistan ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tajikistan (+16.5%), while the prices for the other major destinations experienced a decline.

Chemically Modified Oils Imports

Imports into Uzbekistan

In 2022, supplies from abroad of animal or vegetable fats and oils chemically modified was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, saw a noticeable contraction. The pace of growth appeared the most rapid in 2019 when imports increased by 120%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, chemically modified oils imports skyrocketed to $X in 2022. Over the period under review, imports saw a pronounced expansion. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of chemically modified oils to Uzbekistan, accounting for a 41% share of total imports. Moreover, chemically modified oils imports from Turkey exceeded the figures recorded by the second-largest supplier, Iran (X tons), twofold. The third position in this ranking was held by Belarus (X tons), with a 17% share.

From 2017 to 2022, the average annual growth rate of volume from Turkey amounted to +37.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (+15.9% per year) and Belarus (0.0% per year).

In value terms, Turkey ($X) constituted the largest supplier of animal or vegetable fats and oils chemically modified to Uzbekistan, comprising 55% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports. It was followed by China, with an 11% share.

From 2017 to 2022, the average annual rate of growth in terms of value from Turkey totaled +37.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.0% per year) and China (-4.6% per year).

Import Prices by Country

In 2022, the average chemically modified oils import price amounted to $X per ton, picking up by 38% against the previous year. In general, import price indicated prominent growth from 2017 to 2022: its price increased at an average annual rate of +5.8% over the last five-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chemically modified oils import price increased by +50.9% against 2019 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 Germany ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+63.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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