Eastern Europe: Crude Groundnut Oil Market 2024

Crude Groundnut Oil Market Size in Eastern Europe

The East European crude groundnut oil market amounted to $X in 2022, growing by X% against the previous year. Overall, consumption, however, posted a remarkable increase. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Crude Groundnut Oil Production in Eastern Europe

In value terms, crude groundnut oil production soared to $X in 2022 estimated in export price. Over the period under review, production, however, posted a significant expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Crude Groundnut Oil Exports

Exports in Eastern Europe

In 2022, approx. X tons of crude groundnut oil were exported in Eastern Europe; rising by X% compared with the previous year's figure. Over the period under review, exports showed a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, crude groundnut oil exports skyrocketed to $X in 2022. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Bulgaria dominates exports structure, reaching X tons, which was near X% of total exports in 2022. Latvia (X tons) followed a long way behind the leaders.

Bulgaria was also the fastest-growing in terms of the crude groundnut oil exports, with a CAGR of X% from 2012 to 2022. At the same time, Latvia (X%) displayed positive paces of growth. Bulgaria (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bulgaria ($X) remains the largest crude groundnut oil supplier in Eastern Europe, comprising X% of total exports. The second position in the ranking was held by Latvia ($X), with a X% share of total exports.

In Bulgaria, crude groundnut oil exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, reducing by X% against the previous year. In general, the export price recorded a abrupt shrinkage. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while Latvia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (X%).

Crude Groundnut Oil Imports

Imports in Eastern Europe

In 2022, purchases abroad of crude groundnut oil increased by X% to X tons, rising for the second consecutive year after four years of decline. Overall, imports saw a strong expansion. The growth pace was the most rapid in 2016 when imports increased by X%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, crude groundnut oil imports shrank to $X in 2022. Over the period under review, imports showed a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Czech Republic represented the key importer of crude groundnut oil in Eastern Europe, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. Bulgaria (X tons) took the second position in the ranking, followed by Slovakia (X tons), Romania (X tons) and Hungary (X tons). All these countries together took near X% share of total imports. The following importers - Belarus (X tons) and Poland (X tons) - each resulted at a X% share of total imports.

Imports into the Czech Republic increased at an average annual rate of X% from 2012 to 2022. At the same time, Bulgaria (X%), Hungary (X%), Belarus (X%), Slovakia (X%) and Poland (X%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2022. By contrast, Romania (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Czech Republic, Bulgaria, Slovakia, Hungary and Belarus increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Czech Republic ($X), Bulgaria ($X) and Slovakia ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Among the main importing countries, Bulgaria, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, declining by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belarus ($X per ton), while the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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