Uzbekistan: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in Uzbekistan

The Uzbek margarine and shortening market soared to $X in 2022, increasing by 63% against the previous year. In general, consumption enjoyed a significant expansion. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Margarine And Shortening Production in Uzbekistan

In value terms, margarine and shortening production shrank modestly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 29%. Margarine and shortening production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Margarine And Shortening Exports

Exports from Uzbekistan

In 2022, exports of margarine and shortening from Uzbekistan soared to X tons, increasing by 128% compared with 2021 figures. Over the period under review, exports posted a significant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 270%. Over the period under review, the exports reached the maximum 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. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 238% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Turkmenistan (X tons), Afghanistan (X tons) and Tajikistan (X tons) were the main destinations of margarine and shortening exports from Uzbekistan, together comprising 97% of total exports.

From 2017 to 2022, the biggest increases were recorded for Afghanistan (with a CAGR of +612.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for margarine and shortening exported from Uzbekistan were Afghanistan ($X), Turkmenistan ($X) and Tajikistan ($X), with a combined 92% share of total exports.

Afghanistan, with a CAGR of +562.2%, recorded the highest rates of growth with regard to 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

In 2022, the average margarine and shortening export price amounted to $X per ton, growing by 15% against the previous year. Overall, export price indicated a modest increase from 2017 to 2022: its price increased at an average annual rate of +1.9% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, margarine and shortening export price increased by +64.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 43% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Kyrgyzstan ($X per ton), while the average price for exports to Turkmenistan ($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 Kyrgyzstan (+16.1%), while the prices for the other major destinations experienced a decline.

Margarine And Shortening Imports

Imports into Uzbekistan

For the fourth consecutive year, Uzbekistan recorded growth in overseas purchases of margarine and shortening, which increased by 152% to X tons in 2022. In general, imports saw a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, margarine and shortening imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 188%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of margarine and shortening to Uzbekistan, with a 70% share of total imports. Moreover, margarine and shortening imports from Russia exceeded the figures recorded by the second-largest supplier, Kazakhstan (X tons), threefold. Sweden (X tons) ranked third in terms of total imports with a 0.6% share.

From 2017 to 2022, the average annual rate of growth in terms of volume from Russia totaled +37.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+70.2% per year) and Sweden (+17.1% per year).

In value terms, Russia ($X) constituted the largest supplier of margarine and shortening to Uzbekistan, comprising 72% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a 24% share of total imports. It was followed by Sweden, with a 1% share.

From 2017 to 2022, the average annual growth rate of value from Russia totaled +47.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+85.9% per year) and Sweden (+36.6% per year).

Import Prices by Country

The average margarine and shortening import price stood at $X per ton in 2022, with a decrease of -9.8% against the previous year. Overall, import price indicated a remarkable increase from 2017 to 2022: its price increased at an average annual rate of +7.3% over the last five years. 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 +42.9% against 2018 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 53% against the previous year. As a result, import price attained the peak level of $X per ton, and then fell in the following year.

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 ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+19.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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