Eastern Europe: Groundnut Oil Market 2024

Groundnut Oil Market Size in Eastern Europe

The East European groundnut oil market reduced slightly to $X in 2022, approximately equating 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 remained relatively stable, with only minor fluctuations in certain years. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Groundnut Oil Production in Eastern Europe

In value terms, groundnut oil production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Groundnut Oil Exports

Exports in Eastern Europe

In 2022, the amount of groundnut oil exported in Eastern Europe surged to X tons, increasing by X% against 2021 figures. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, groundnut oil exports soared to $X in 2022. Overall, exports saw a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

Bulgaria prevails in exports structure, finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Lithuania (X tons), committing a X% share of total exports. Ukraine (X tons), the Czech Republic (X tons), Latvia (X tons) and Poland (X tons) took a little share of total exports.

Bulgaria was also the fastest-growing in terms of the groundnut oil exports, with a CAGR of X% from 2012 to 2022. At the same time, Poland (X%), Latvia (X%), Lithuania (X%) and the Czech Republic (X%) displayed positive paces of growth. By contrast, Ukraine (X%) illustrated a downward trend over the same period. While the share of Bulgaria (X p.p.) and Lithuania (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Czech Republic (X p.p.) and Ukraine (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bulgaria ($X) remains the largest groundnut oil supplier in Eastern Europe, comprising X% of total exports. The second position in the ranking was taken by Lithuania ($X), with a X% share of total exports. It was followed by the Czech Republic, with a X% share.

In Bulgaria, groundnut oil exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Lithuania (X% per year) and the Czech Republic (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

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

Groundnut Oil Imports

Imports in Eastern Europe

In 2022, supplies from abroad of groundnut oil increased by X% to X tons, rising for the second year in a row after four years of decline. Overall, imports enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, groundnut oil imports expanded notably to $X in 2022. Over the period under review, imports enjoyed a notable increase. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Poland (X tons) and the Czech Republic (X tons) were the main importers of groundnut oil in 2022, accounting for near X% and X% of total imports, respectively. Romania (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Hungary (X%), Slovakia (X%), Bulgaria (X%) and Lithuania (X%).

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

In value terms, Poland ($X), the Czech Republic ($X) and Romania ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Hungary, Bulgaria, Lithuania and Slovakia lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, falling by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bulgaria ($X per ton), while the Czech Republic ($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 mixed trends in the import price figures.

Source: IndexBox Platform

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