Belarus: Rennet Market 2024

Rennet Market Size in Belarus

The Belarusian rennet market rose remarkably to $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in years to come.

Rennet Production in Belarus

In value terms, rennet production reduced modestly to $X in 2022 estimated in export price. In general, the total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Rennet Exports

Exports from Belarus

In 2022, approx. X kg of rennet and concentrates thereof were exported from Belarus; with a decrease of X% compared with the year before. Overall, exports faced a drastic downturn. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, rennet exports declined sharply to $X in 2022. Over the period under review, exports faced a deep setback. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Russia (X kg) was the main destination for rennet exports from Belarus, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Russia totaled X%.

In value terms, Russia ($X) also remains the key foreign market for rennet and concentrates thereof exports from Belarus.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia totaled X%.

Export Prices by Country

In 2022, the average rennet export price amounted to $X per ton, rising by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Russia.

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to X% per year.

Rennet Imports

Imports into Belarus

Rennet imports into Belarus skyrocketed to X tons in 2022, increasing by X% on the previous year's figure. In general, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, rennet imports soared to $X in 2022. Overall, imports, however, saw a noticeable decrease. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Denmark (X tons) constituted the largest supplier of rennet to Belarus, accounting for a X% share of total imports. Moreover, rennet imports from Denmark exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was held by the Netherlands (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Denmark amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the Netherlands (X% per year).

In value terms, Denmark ($X) constituted the largest supplier of rennet and concentrates thereof to Belarus, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Denmark was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the Netherlands (X% per year).

Import Prices by Country

In 2022, the average rennet import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, saw a abrupt contraction. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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