Estonia: Oil Crops Market 2024

Oil Crops Market Size in Estonia

The Estonian oil crops market amounted to $X in 2022, remaining stable against the previous year. Overall, the total consumption indicated a noticeable increase from 2012 to 2022: its value 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, consumption decreased by X% against 2020 indices. Oil crops consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Oil Crops Production in Estonia

In value terms, oil crops production stood at $X in 2022 estimated in export price. In general, the total production indicated a slight increase from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. Oil crops production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The average yield of oil crops (primary) in Estonia rose to X tons per ha in 2022, growing by X% against the year before. In general, the yield indicated a notable increase from 2012 to 2022: its figure 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, oil crops yield decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the yield increased by X%. The oil crops yield peaked at X tons per ha in 2015; however, from 2016 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of oil crops (primary) in Estonia declined to X ha, with a decrease of X% against the previous year. In general, the harvested area saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the harvested area increased by X% against the previous year. The oil crops harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Oil Crops Exports

Exports from Estonia

In 2022, overseas shipments of oil crops (primary) increased by X% to X tons, rising for the fourth year in a row after six years of decline. Overall, exports, however, continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, oil crops exports surged to $X in 2022. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Finland (X tons), the UK (X tons) and Germany (X tons) were the main destinations of oil crops exports from Estonia, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Finland ($X) remains the key foreign market for oil crops (primary) exports from Estonia, comprising X% of total exports. The second position in the ranking was held by the UK ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Finland totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Germany (X% per year).

Export Prices by Country

The average oil crops export price stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Crops Imports

Imports into Estonia

In 2022, approx. X tons of oil crops (primary) were imported into Estonia; which is down by X% against the previous year. Over the period under review, imports, however, enjoyed notable growth. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, oil crops imports declined to $X in 2022. Overall, total imports indicated a strong expansion from 2012 to 2022: its value 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 increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest oil crops supplier to Estonia, accounting for a X% share of total imports. Moreover, oil crops imports from Ukraine exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), fourfold. The third position in this ranking was taken by Russia (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Ukraine stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and Russia (X% per year).

In value terms, Ukraine ($X) constituted the largest supplier of oil crops (primary) to Estonia, comprising X% of total imports. The second position in the ranking was held by Russia ($X), with a X% share of total imports. It was followed by Lithuania, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ukraine totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and Lithuania (X% per year).

Import Prices by Country

In 2022, the average oil crops import price amounted to $X per ton, growing by X% against the previous year. In general, import price indicated noticeable growth 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, oil crops import price increased by X% against 2016 indices. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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