Central Asia: Vegetable Oils Market 2024

Vegetable Oils Market Size in Central Asia

The Central Asian vegetable oils market dropped rapidly to $X in 2023, with a decrease of X% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Vegetable Oils Production in Central Asia

In value terms, vegetable oils production expanded slightly to $X in 2023 estimated in export price. Overall, production, however, showed a deep reduction. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Vegetable Oils Exports

Exports in Central Asia

In 2023, vegetable oils exports in Central Asia plummeted to X tons, with a decrease of X% compared with 2022. Overall, exports recorded a noticeable setback. The growth pace was the most rapid in 2022 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, vegetable oils exports plummeted to $X in 2023. Over the period under review, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Kazakhstan dominates exports structure, recording X tons, which was near X% of total exports in 2023. It was distantly followed by Uzbekistan (X tons), constituting a X% share of total exports. The following exporters - Tajikistan (X tons) and Kyrgyzstan (X tons) - together made up X% of total exports.

Exports from Kazakhstan decreased at an average annual rate of X% from 2012 to 2023. At the same time, Kyrgyzstan (X%) and Tajikistan (X%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of X% from 2012-2023. By contrast, Uzbekistan (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Uzbekistan, Tajikistan and Kyrgyzstan increased by X, X and X percentage points, respectively.

In value terms, Kazakhstan ($X) remains the largest vegetable oils supplier in Central Asia, comprising X% of total exports. The second position in the ranking was taken by Kyrgyzstan ($X), with a X% share of total exports. It was followed by Uzbekistan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Kazakhstan stood at X%. In the other countries, the average annual rates were as follows: Kyrgyzstan (X% per year) and Uzbekistan (X% per year).

Export Prices by Country

In 2023, the export price in Central Asia amounted to $X per ton, declining by X% against the previous year. In general, the export price showed a pronounced decline. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2022 to 2023, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Kyrgyzstan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced a decline in the export price figures.

Vegetable Oils Imports

Imports in Central Asia

In 2023, after two years of growth, there was significant decline in supplies from abroad of vegetable fats and oils, when their volume decreased by X% to X tons. Overall, imports, however, showed a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, vegetable oils imports reduced remarkably to $X in 2023. In general, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2022, and then reduced markedly in the following year.

Imports by Country

In 2023, Uzbekistan (X tons) was the key importer of vegetable fats and oils, achieving X% of total imports. It was distantly followed by Kazakhstan (X tons), comprising a X% share of total imports. The following importers - Turkmenistan (X tons) and Mongolia (X tons) - together made up X% of total imports.

Uzbekistan experienced a relatively flat trend pattern with regard to volume of imports of vegetable fats and oils. At the same time, Turkmenistan (X%) and Mongolia (X%) displayed positive paces of growth. Moreover, Turkmenistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of X% from 2012-2023. By contrast, Kazakhstan (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Uzbekistan increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Uzbekistan ($X) constitutes the largest market for imported vegetable fats and oils in Central Asia, comprising X% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a X% share of total imports. It was followed by Turkmenistan, with a X% share.

In Uzbekistan, vegetable oils imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (X% per year) and Turkmenistan (X% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2023, which is down by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Turkmenistan ($X per ton) and Mongolia ($X per ton), while Kazakhstan ($X per ton) and Uzbekistan ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform