Lithuania - Vegetable Fats And Oils - Market Analysis, Forecast, Size, Trends And Insights
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View PricingVegetable Oils Price in Lithuania - 2023
Contents:
- Vegetable Oils Price in Lithuania (CIF) - 2023
- Vegetable Oils Price in Lithuania (FOB) - 2023
- Vegetable Oils Imports in Lithuania
- Vegetable Oils Exports in Lithuania
Vegetable Oils Price in Lithuania (CIF) - 2023
The average vegetable oils import price stood at $2,150 per ton in September 2023, surging by 60% against the previous month. In general, the import price continues to indicate notable growth. Over the period under review, average import prices hit record highs at $2,542 per ton in May 2023; however, from June 2023 to September 2023, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In September 2023, the countries with the highest prices were Latvia ($2,324 per ton) and China ($2,322 per ton), while the price for Poland ($1,697 per ton) and Sweden ($2,246 per ton) were amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Latvia (+5.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Vegetable Oils Price in Lithuania (FOB) - 2023
In September 2023, the average vegetable oils export price amounted to $2,495 per ton, growing by 120% against the previous month. Overall, the export price enjoyed pronounced growth. Over the period under review, the average export prices attained the maximum at $2,923 per ton in June 2023; however, from July 2023 to September 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In September 2023, the country with the highest price was Belarus ($3,023 per ton), while the average price for exports to Poland ($1,532 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (+7.0%), while the prices for the other major destinations experienced mixed trend patterns.
Vegetable Oils Imports in Lithuania
For the fourth year in a row, Lithuania recorded growth in supplies from abroad of vegetable fats and oils, which increased by 178% to 11K tons in 2022. In general, imports recorded significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, vegetable oils imports soared to $17M in 2022. Overall, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Vegetable Oils in Lithuania (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Latvia | 1.5 | 1.3 | 2.1 | 11.1 | 94.9% |
| Sweden | 2.3 | 2.8 | 3.1 | 4.5 | 25.1% |
| Poland | N/A | N/A | 0.5 | 0.6 | 20.0% |
| Germany | 0.3 | 0.3 | 0.2 | 0.1 | -30.7% |
| Estonia | 0.1 | 0.3 | 0.5 | N/A | 123.6% |
| Others | 0.6 | 0.3 | 0.6 | 0.5 | -5.9% |
| Total | 4.7 | 5.0 | 6.9 | 16.8 | 52.9% |
Top Suppliers of Vegetable Oils to Lithuania in 2022:
- Estonia (undefinedK tons)
- Germany (undefinedK tons)
- Latvia (8.6K tons)
- Sweden (2.0K tons)
- Poland (0.3K tons)
Vegetable Oils Exports in Lithuania
In 2022, approx. 1.6K tons of vegetable fats and oils were exported from Lithuania; growing by 88% against 2021. Overall, exports posted a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, vegetable oils exports surged to $2.6M in 2022. In general, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +19.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +69.5% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Vegetable Oils in Lithuania (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Latvia | 1,141 | 1,378 | 1,548 | 2,362 | 27.4% |
| Belarus | 117 | 92.4 | 35.4 | 90.8 | -8.1% |
| Poland | 124 | 40.8 | N/A | 0.2 | -88.3% |
| Others | 176 | 328 | 104 | 187 | 2.0% |
| Total | 1,558 | 1,839 | 1,688 | 2,640 | 19.2% |
Top Export Markets for Vegetable Oils from Lithuania in 2022:
- Latvia (1555.1 tons)
- Belarus (25.7 tons)
- Poland (0.1 tons)
This report provides an in-depth analysis of the vegetable oils market in Lithuania. 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 10416050 - Vegetable fats and oils and their fractions partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, but not further prepared (including refined)
Country coverage:
- Lithuania
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Lithuania
- 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
-
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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This article provides key statistics and insights into the best import markets for vegetable oils. China leads the way, followed by Germany, Malaysia, the United States, Poland, Denmark, France, Thailand, Belgium, and the Netherlands. The global market for vegetable oils continues to expand due to factors such as increasing health consciousness and the versatility of these oils in culinary applications.
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This article provides key statistics and insights into the best import markets for vegetable oils. China leads the way, followed by Germany, Malaysia, the United States, Poland, Denmark, France, Thailand, Belgium, and the Netherlands. The global market for vegetable oils continues to expand due to factors such as increasing health consciousness and the versatility of these oils in culinary applications.
