Hungary - Refined Palm Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRefined Palm Oil Price in Hungary - 2023
Contents:
- Refined Palm Oil Price in Hungary (CIF) - 2023
- Refined Palm Oil Price in Hungary (FOB) - 2022
- Refined Palm Oil Imports in Hungary
- Refined Palm Oil Exports in Hungary
Refined Palm Oil Price in Hungary (CIF) - 2023
The average refined palm oil import price stood at $1,607 per ton in August 2023, shrinking by -6.1% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in November 2022 an increase of 4.5% month-to-month. Over the period under review, average import prices attained the maximum at $1,864 per ton in January 2023; however, from February 2023 to August 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Belgium ($2,027 per ton), while the price for Indonesia ($1,041 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Austria (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Refined Palm Oil Price in Hungary (FOB) - 2022
In 2022, the average refined palm oil export price amounted to $2,458 per ton, picking up by 35% against the previous year. In general, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined palm oil export price increased by +120.2% against 2016 indices. The growth pace was the most rapid in 2018 an increase of 46%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.
Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Austria ($2,637 per ton) and Serbia ($2,631 per ton), while the average price for exports to Ukraine ($1,930 per ton) and Croatia ($2,277 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.
Refined Palm Oil Imports in Hungary
In 2022, purchases abroad of refined palm oil decreased by -0.8% to 31K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +4.3% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 12% against the previous year. As a result, imports attained the peak of 31K tons, leveling off in the following year.
In value terms, refined palm oil imports soared to $52M in 2022. Overall, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 47%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.
Import of Refined Palm Oil in Hungary (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Netherlands | 12.3 | 9.4 | 14.7 | 18.3 | 14.2% |
Italy | 0.9 | 5.0 | 10.1 | 9.8 | 121.6% |
Belgium | 0.7 | 1.9 | 3.0 | 7.4 | 119.5% |
Germany | 4.1 | 5.1 | 5.7 | 5.5 | 10.3% |
Malaysia | 0.7 | 0.7 | 0.8 | 2.8 | 58.7% |
Austria | 3.2 | 2.7 | 2.9 | 2.5 | -7.9% |
Sweden | 1.4 | 2.3 | 2.2 | 2.0 | 12.6% |
Greece | N/A | N/A | 0.3 | 1.9 | 533.3% |
Indonesia | 0.5 | 0.6 | 0.5 | 0.7 | 11.9% |
Others | 0.1 | 0.2 | 0.9 | 1.0 | 115.4% |
Total | 23.9 | 28.0 | 41.1 | 51.9 | 29.5% |
Top Suppliers of Refined Palm Oil to Hungary in 2022:
- Netherlands (12.4K tons)
- Italy (5.9K tons)
- Belgium (3.6K tons)
- Germany (3.2K tons)
- Malaysia (1.4K tons)
- Austria (1.4K tons)
- Sweden (1.0K tons)
- Greece (1.0K tons)
- Indonesia (0.4K tons)
Refined Palm Oil Exports in Hungary
In 2022, exports of refined palm oil from Hungary skyrocketed to 222 tons, increasing by 45% against the year before. In general, exports recorded a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 206% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.
In value terms, refined palm oil exports soared to $545K in 2022. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 185%. The exports peaked in 2022 and are expected to retain growth in the immediate term.
Export of Refined Palm Oil in Hungary (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Serbia | 0.1 | 0.1 | N/A | 213 | 1186.6% |
France | N/A | 2.5 | 1.4 | 103 | 541.9% |
Austria | 36.0 | 32.1 | 112 | 99.5 | 40.3% |
Ukraine | N/A | N/A | 67.3 | 59.8 | -11.1% |
Romania | 20.4 | 8.7 | 17.7 | 34.2 | 18.8% |
Slovakia | 9.7 | 2.4 | 4.6 | 12.8 | 9.7% |
Croatia | N/A | N/A | 14.6 | 8.1 | -44.5% |
Germany | N/A | 21.3 | 8.3 | 1.9 | -70.1% |
Others | 18.5 | 31.2 | 53.9 | 13.1 | -10.9% |
Total | 84.7 | 98.2 | 280 | 545 | 86.0% |
Top Export Markets for Refined Palm Oil from Hungary in 2022:
- Serbia (80.8 tons)
- France (45.0 tons)
- Austria (37.7 tons)
- Ukraine (31.0 tons)
- Romania (13.0 tons)
- Slovakia (5.6 tons)
- Croatia (3.5 tons)
- Germany (1.2 tons)
This report provides an in-depth analysis of the refined palm oil market in Hungary. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10415700 - Refined palm oil and its fractions (excluding chemically modified)
Country coverage:
- Hungary
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hungary
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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