CIS: Crude Groundnut Oil Market Overview 2021

Crude Groundnut Oil Market Size in CIS

The CIS crude groundnut oil market soared to $X in 2019, growing by X% against the previous year. Over the period under review, consumption, however, continues to indicate a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2007; however, from 2008 to 2019, consumption remained at a lower figure.

Crude Groundnut Oil Production in CIS

In value terms, crude groundnut oil production rose rapidly to $X in 2019 estimated in export prices. Overall, production continues to indicate a perceptible downturn. The growth pace was the most rapid in 2010 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2007; however, from 2008 to 2019, production stood at a somewhat lower figure.

Production By Country in CIS

Uzbekistan (X tonnes) constituted the country with the largest volume of crude groundnut oil production, comprising approx. X% of total volume.

In Uzbekistan, crude groundnut oil production expanded at an average annual rate of +X% over the period from 2007-2019.

Crude Groundnut Oil Exports

Exports in CIS

In 2019, the amount of crude groundnut oil exported in the CIS skyrocketed to X kg, picking up by X% on the previous year. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2017 with an increase of X% year-to-year. As a result, exports attained the peak of X tonnes. From 2018 to 2019, the growth exports failed to regain the momentum.

In value terms, crude groundnut oil exports soared to $X in 2019. In general, exports posted a buoyant expansion. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. As a result, exports reached the peak of $X. From 2018 to 2019, the growth exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of crude groundnut oil, namely Russia, represented more than two-thirds of total export.

Russia was also the fastest-growing in terms of the crude groundnut oil exports, with a CAGR of +X% from 2007 to 2019. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) also remains the largest crude groundnut oil supplier in the CIS.

From 2007 to 2019, the average annual rate of growth in terms of value in Russia stood at +X%.

Export Prices by Country

The crude groundnut oil export price in the CIS stood at $X per tonne in 2019, growing by X% against the previous year. In general, the export price, however, saw a abrupt curtailment. The growth pace was the most rapid in 2018 an increase of X% year-to-year. Over the period under review, export prices attained the peak figure at $X per tonne in 2010; however, from 2011 to 2019, export prices failed to regain the momentum.

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

From 2007 to 2019, the rate of growth in terms of prices for Russia amounted to -X% per year.

Crude Groundnut Oil Imports

Imports in CIS

Crude groundnut oil imports surged to X tonnes in 2019, growing by X% against the previous year. Over the period under review, imports, however, saw a abrupt curtailment. The volume of import peaked at X tonnes in 2007; however, from 2008 to 2019, imports remained at a lower figure.

In value terms, crude groundnut oil imports skyrocketed to $X in 2019. In general, imports, however, saw a deep downturn. Over the period under review, imports attained the maximum at $X in 2007; however, from 2008 to 2019, imports failed to regain the momentum.

Imports by Country

Russia dominates crude groundnut oil imports structure, recording X tonnes, which was approx. X% of total imports in 2019. The following importers - Belarus (X kg), Azerbaijan (X kg) and Kazakhstan (X kg) - each resulted at a X% share of total imports.

From 2007 to 2019, average annual rates of growth with regard to crude groundnut oil imports into Russia stood at -X%. At the same time, Kazakhstan (+X%) and Azerbaijan (+X%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +X% from 2007-2019. By contrast, Belarus (-X%) illustrated a downward trend over the same period. Azerbaijan (+X p.p.) significantly strengthened its position in terms of the total imports, while Belarus saw its share reduced by -X% from 2007 to 2019, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported crude groundnut oil in the CIS, comprising X% of total imports. The second position in the ranking was occupied by Belarus ($X), with a X% share of total imports. It was followed by Kazakhstan, with a X% share.

From 2007 to 2019, the average annual growth rate of value in Russia totaled -X%. The remaining importing countries recorded the following average annual rates of imports growth: Belarus (-X% per year) and Kazakhstan (+X% per year).

Import Prices by Country

The crude groundnut oil import price in the CIS stood at $X per tonne in 2019, approximately mirroring the previous year. Import price indicated a slight increase from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, crude groundnut oil import price increased by +X% against 2017 indices. The pace of growth was the most pronounced in 2008 an increase of X% y-o-y. Over the period under review, import prices hit record highs at $X per tonne in 2012; however, from 2013 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2019, the country with the highest price was Belarus ($X per tonne), while Azerbaijan ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Belarus, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude groundnut oil in the CIS?

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Russia (11 tonnes) remains the largest crude groundnut oil consuming country in the CIS, accounting for 71% of total volume. Moreover, crude groundnut oil consumption in Russia exceeded the figures recorded by the second-largest consumer, Uzbekistan (3.4 tonnes), threefold. The third position in this ranking was occupied by Belarus (252 kg), with a 1.7% share.

What are the largest producers of crude groundnut oil in the CIS?

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Uzbekistan (3.4 tonnes) remains the largest crude groundnut oil producing country in the CIS, comprising approx. 100% of total volume.

What are the leading exporters of crude groundnut oil in the CIS?

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In value terms, Russia ($2.2K) remains the largest crude groundnut oil supplier in the CIS.

What are the leading importers of crude groundnut oil in the CIS?

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In value terms, Russia ($49K) constitutes the largest market for imported crude groundnut oil in the CIS, comprising 95% of total imports. The second position in the ranking was occupied by Belarus ($1.4K), with a 2.7% share of total imports. It was followed by Kazakhstan, with a 1.5% share.

What is the average export price for crude groundnut oil in the CIS?

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In 2019, the crude groundnut oil export price in the CIS amounted to $5,090 per tonne, with an increase of 6.4% against the previous year.

What is the average import price for crude groundnut oil in the CIS?

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The crude groundnut oil import price in the CIS stood at $4,386 per tonne in 2019, therefore, remained relatively stable against the previous year.