Eastern Europe: Crude Palm Oil Market 2024

Crude Palm Oil Market Size in Eastern Europe

The East European crude palm oil market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption, however, recorded a abrupt shrinkage. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Crude Palm Oil Production in Eastern Europe

In value terms, crude palm oil production fell modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a noticeable setback. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Crude Palm Oil Exports

Exports in Eastern Europe

In 2022, crude palm oil exports in Eastern Europe declined markedly to X tons, waning by X% compared with 2021. Over the period under review, exports faced a sharp decrease. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, crude palm oil exports shrank to $X in 2022. In general, exports recorded a precipitous setback. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Romania represented the major exporter of crude palm oil in Eastern Europe, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Hungary (X tons), Russia (X tons), the Czech Republic (X tons) and Lithuania (X tons), together creating a X% share of total exports. Poland (X tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Hungary ($X) and the Czech Republic ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

In terms of the main exporting countries, Romania, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price saw a resilient increase. The most prominent rate of growth was recorded in 2020 an increase of X%. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Russia ($X per ton) was amongst the lowest.

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

Crude Palm Oil Imports

Imports in Eastern Europe

In 2022, overseas purchases of crude palm oil were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, faced a abrupt shrinkage. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, crude palm oil imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a deep slump. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Poland was the largest importing country with an import of about X tons, which finished at X% of total imports. Lithuania (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Romania (X%). The following importers - Hungary (X tons) and Russia (X tons) - together made up X% of total imports.

Imports into Poland decreased at an average annual rate of X% from 2012 to 2022. At the same time, Lithuania (X%) and Hungary (X%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2022. By contrast, Romania (X%) and Russia (X%) illustrated a downward trend over the same period. Lithuania (X p.p.), Romania (X p.p.) and Hungary (X p.p.) significantly strengthened its position in terms of the total imports, while Russia and Poland saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Poland ($X) constitutes the largest market for imported crude palm oil in Eastern Europe, comprising X% of total imports. The second position in the ranking was taken by Lithuania ($X), with a X% share of total imports. It was followed by Romania, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Poland stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and Romania (X% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, jumping by X% against the previous year. In general, the import price showed a resilient increase. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Romania ($X per ton), while Russia ($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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