Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Greece - 2023

Contents:

1. Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Greece (FOB) - 2023
2. Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Greece (CIF) - 2023
3. Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Greece
4. Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Greece

Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Greece (FOB) - 2023

In October 2023, the average export price for liquid margarine and edible mixtures of animal or vegetable fats amounted to $1,573 per ton, with a decrease of -4.3% against the previous month. Over the period under review, the export price recorded a mild shrinkage. The pace of growth appeared the most rapid in August 2023 when the average export price increased by 9.2% month-to-month. The export price peaked at $2,082 per ton in May 2023; however, from June 2023 to October 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In October 2023, the country with the highest price was Italy ($15,898 per ton), while the average price for exports to Poland ($1,262 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+18.8%), while the prices for the other major destinations experienced mixed trend patterns.

Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Greece (CIF) - 2023

The average import price for liquid margarine and edible mixtures of animal or vegetable fats stood at $2,636 per ton in October 2023, surging by 5% against the previous month. Over the period from October 2022 to October 2023, it increased at an average monthly rate of +1.4%. The growth pace was the most rapid in January 2023 an increase of 7.7% m-o-m. The import price peaked at $2,677 per ton in June 2023; however, from July 2023 to October 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was France ($4,475 per ton), while the price for Bulgaria ($1,327 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Germany (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Greece

In 2022, overseas shipments of liquid margarine and edible mixtures of animal or vegetable fats decreased by -2.2% to 17K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +7.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 21% against the previous year. As a result, the exports reached the peak of 17K tons, and then declined slightly in the following year.

In value terms, exports of liquid margarine and edible mixtures of animal or vegetable fats surged to $29M in 2022. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 54%. The exports peaked in 2022 and are likely to continue growth in the near future.

Top Export Markets for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats from Greece in 2022:

1. Bulgaria (12.2K tons)
2. Romania (1.3K tons)
3. Italy (1.0K tons)
4. Albania (0.5K tons)
5. Poland (0.3K tons)
6. Serbia (0.3K tons)
7. Slovakia (0.3K tons)

Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Greece

Imports of liquid margarine and edible mixtures of animal or vegetable fats into Greece totaled 8.9K tons in 2022, with an increase of 13% against the year before. The total import volume increased at an average annual rate of +3.6% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of liquid margarine and edible mixtures of animal or vegetable fats skyrocketed to $20M in 2022. In general, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +20.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.1% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats to Greece in 2022:

1. Sweden (3171.6 tons)
2. Belgium (1575.0 tons)
3. Turkey (825.6 tons)
4. Netherlands (513.1 tons)
5. France (455.1 tons)
6. Spain (360.5 tons)
7. Indonesia (358.0 tons)
8. Ukraine (356.9 tons)
9. Cyprus (349.0 tons)
10. Bulgaria (271.4 tons)
11. Austria (152.6 tons)
12. Poland (152.5 tons)
13. North Macedonia (151.0 tons)

Source: IndexBox Market Intelligence Platform