Eastern Europe: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in Eastern Europe

In 2022, the East European refined palm oil market increased by X% to $X, rising for the sixth year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Refined Palm Oil Production in Eastern Europe

In value terms, refined palm oil production stood at $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Refined Palm Oil Exports

Exports in Eastern Europe

In 2022, approx. X tons of refined palm oil were exported in Eastern Europe; picking up by X% compared with 2021. In general, exports, however, continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined palm oil exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Russia (X tons) represented the key exporter of refined palm oil, constituting X% of total exports. It was distantly followed by Bulgaria (X tons), Poland (X tons) and Estonia (X tons), together mixing up a X% share of total exports. Slovakia (X tons), the Czech Republic (X tons) and Ukraine (X tons) took a little share of total exports.

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

In value terms, the largest refined palm oil supplying countries in Eastern Europe were Russia ($X), Bulgaria ($X) and Poland ($X), with a combined X% share of total exports. Estonia, the Czech Republic, Slovakia and Ukraine lagged somewhat behind, together comprising a further X%.

Estonia, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price posted a remarkable increase. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Bulgaria ($X per ton) and Poland ($X per ton), while Estonia ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

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

Refined Palm Oil Imports

Imports in Eastern Europe

In 2022, approx. X tons of refined palm oil were imported in Eastern Europe; which is down by X% compared with the previous year. Total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, refined palm oil imports expanded remarkably to $X in 2022. Overall, imports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

Russia represented the major importer of refined palm oil in Eastern Europe, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. Poland (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Ukraine (X%). Romania (X tons), Hungary (X tons) and Bulgaria (X tons) took a minor share of total imports.

Russia was also the fastest-growing in terms of the refined palm oil imports, with a CAGR of X% from 2012 to 2022. At the same time, Poland (X%), Hungary (X%) and Romania (X%) displayed positive paces of growth. By contrast, Ukraine (X%) and Bulgaria (X%) illustrated a downward trend over the same period. Russia (X p.p.) and Poland (X p.p.) significantly strengthened its position in terms of the total imports, while Bulgaria and Ukraine saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in Russia amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Poland (X% per year) and Ukraine (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. Import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined palm oil import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Bulgaria ($X per ton) and Romania ($X per ton), while Russia ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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