Romania: Oleo Oils Market Overview 2021

Oleo Oils Market Size in Romania

For the fourth consecutive year, the Romanian oleo oils market recorded growth in sales value, which increased by X% to $X in 2020. Over the period under review, consumption showed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of X% year-to-year. Oleo oils consumption peaked in 2020 and is expected to retain growth in the near future.

Oleo Oils Production in Romania

In value terms, oleo oils production soared to $X in 2020 estimated in export prices. Overall, production enjoyed a significant increase. The pace of growth was the most pronounced in 2019 when the production volume increased by X% year-to-year. Over the period under review, production attained the peak level in 2020 and is likely to continue growth in the immediate term.

Oleo Oils Exports

Exports from Romania

In 2020, exports of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil from Romania dropped dramatically to X tonnes, reducing by -X% compared with the previous year's figure. Overall, exports showed a deep slump. The growth pace was the most rapid in 2016 with an increase of X% y-o-y. Exports peaked at X tonnes in 2011; however, from 2012 to 2020, exports failed to regain the momentum.

In value terms, oleo oils exports contracted to $X in 2020. In general, exports showed a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of X% year-to-year. Over the period under review, exports reached the peak figure at $X in 2011; however, from 2012 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Hungary (X tonnes) was the main destination for oleo oils exports from Romania, accounting for a X% share of total exports. Moreover, oleo oils exports to Hungary exceeded the volume sent to the second major destination, Bulgaria (X kg), more than tenfold.

From 2007 to 2020, the average annual rate of growth in terms of volume to Hungary stood at -X%.

In value terms, Hungary ($X) and Bulgaria ($X) were the largest markets for oleo oils exported from Romania worldwide.

Bulgaria saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2020, the average oleo oils export price amounted to $X per tonne, surging by X% against the previous year. In general, the export price continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2018 an increase of X% y-o-y. The export price peaked in 2020 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was Bulgaria ($X per tonne), while the average price for exports to Hungary totaled $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria.

Oleo Oils Imports

Imports into Romania

In 2020, after five years of growth, there was decline in supplies from abroad of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil, when their volume decreased by -X% to X tonnes. Over the period under review, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2010 when imports increased by X% y-o-y. As a result, imports attained the peak of X tonnes. from 2011 to 2020, the growth imports remained at a lower figure.

In value terms, oleo oils imports reduced dramatically to $X in 2020. Overall, imports, however, posted strong growth. The pace of growth appeared the most rapid in 2017 when imports increased by X% y-o-y. Over the period under review, imports attained the maximum at $X in 2019, and then contracted notably in the following year.

Imports by Country

In 2020, Hungary (X tonnes) constituted the largest supplier of oleo oils to Romania, with a X% share of total imports. Moreover, oleo oils imports from Hungary exceeded the figures recorded by the second-largest supplier, Bulgaria (X tonnes), threefold. The third position in this ranking was occupied by Austria (X tonnes), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from Hungary totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+X% per year) and Austria (-X% per year).

In value terms, the largest oleo oils suppliers to Romania were Austria ($X), Hungary ($X) and Bulgaria ($X), with a combined X% share of total imports.

Hungary (+X% per year) saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average oleo oils import price stood at $X per tonne in 2020, reducing by -X% against the previous year. Overall, the import price, however, posted a strong increase. The growth pace was the most rapid in 2017 when the average import price increased by X% year-to-year. Over the period under review, average import prices reached the maximum at $X per tonne in 2014; however, from 2015 to 2020, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Austria ($X per tonne), while the price for Greece ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Austria, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in the world?

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The countries with the highest volumes of oleo oils consumption in 2020 were Ireland (75K tonnes), the U.S. (44K tonnes) and the UK (35K tonnes), with a combined 53% share of global consumption. Malaysia, Sudan, Belgium and Egypt lagged somewhat behind, together comprising a further 34%.

What are the largest producers of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in the world?

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The countries with the highest volumes of oleo oils production in 2020 were the UK (90K tonnes), Ireland (72K tonnes) and the U.S. (54K tonnes), together accounting for 74% of global production.

What are the leading suppliers of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil to Romania?

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In value terms, the largest oleo oils suppliers to Romania were Austria ($88K), Hungary ($68K) and Bulgaria ($18K), together accounting for 95% of total imports.

What are the leading importers of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil from Romania?

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In value terms, the largest markets for oleo oils exported from Romania were Hungary ($2.4K) and Bulgaria ($2K).

What is the average export price for lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in Romania?

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In 2020, the average oleo oils export price amounted to $930 per tonne, increasing by 11% against the previous year.

What is the average import price for lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in Romania?

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In 2020, the average oleo oils import price amounted to $4,093 per tonne, dropping by -28.8% against the previous year.