Romania: Crude Palm Oil Market Overview 2021

Crude Palm Oil Market Size in Romania

In 2019, after two years of growth, there was significant decline in the Romanian crude palm oil market, when its value decreased by -X% to $X. Over the period under review, consumption showed a deep setback. The pace of growth appeared the most rapid in 2017 with an increase of X% year-to-year. Crude palm oil consumption peaked at $X in 2007; however, from 2008 to 2019, consumption stood at a somewhat lower figure.

Crude Palm Oil Exports

Exports from Romania

In 2019, overseas shipments of crude palm oil decreased by -X% to X kg, falling for the second consecutive year after two years of growth. Overall, exports faced a sharp decrease. The most prominent rate of growth was recorded in 2014 when exports increased by X% year-to-year. Exports peaked at X tonnes in 2007; however, from 2008 to 2019, exports remained at a lower figure.

In value terms, crude palm oil exports reduced remarkably to $X in 2019. Over the period under review, exports showed a precipitous curtailment. The pace of growth was the most pronounced in 2014 when exports increased by X% y-o-y. Over the period under review, exports reached the peak figure at $X in 2007; however, from 2008 to 2019, exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X kg) was the main destination for crude palm oil exports from Romania, with a X% share of total exports. Moreover, crude palm oil exports to the Netherlands exceeded the volume sent to the second major destination, the U.S. (X kg), fivefold.

From 2007 to 2019, the average annual rate of growth in terms of volume to the Netherlands totaled +X%.

In value terms, the Netherlands ($X) remains the key foreign market for crude palm oil exports from Romania, comprising X% of total exports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of value to the Netherlands amounted to +X%.

Export Prices by Country

The average crude palm oil export price stood at $X per tonne in 2019, reducing by -X% against the previous year. Overall, the export price, however, showed a mild increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% year-to-year. The export price peaked at $X per tonne in 2012; however, from 2013 to 2019, export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2019, the country with the highest price was the U.S. ($X per tonne), while the average price for exports to the Netherlands amounted to $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the U.S..

Crude Palm Oil Imports

Imports into Romania

In 2019, approx. X tonnes of crude palm oil were imported into Romania; with a decrease of -X% on 2018 figures. Overall, imports saw a sharp descent. The most prominent rate of growth was recorded in 2017 when imports increased by X% year-to-year. Over the period under review, imports hit record highs at X tonnes in 2007; however, from 2008 to 2019, imports failed to regain the momentum.

In value terms, crude palm oil imports dropped markedly to $X in 2019. In general, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when imports increased by X% year-to-year. Imports peaked at $X in 2007; however, from 2008 to 2019, imports remained at a lower figure.

Imports by Country

Turkey (X tonnes), Bulgaria (X tonnes) and Italy (X tonnes) were the main suppliers of crude palm oil imports to Romania, together comprising X% of total imports.

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy, while imports for the other leaders experienced mixed trend patterns.

In value terms, Turkey ($X) constituted the largest supplier of crude palm oil to Romania, comprising X% of total imports. The second position in the ranking was occupied by Italy ($X), with a X% share of total imports. It was followed by Bulgaria, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from Turkey amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+X% per year) and Bulgaria (-X% per year).

Import Prices by Country

In 2019, the average crude palm oil import price amounted to $X per tonne, with an increase of X% against the previous year. Overall, import price indicated resilient growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, crude palm oil import price increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2018 an increase of X% year-to-year. The import price peaked in 2019 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 2019, the country with the highest price was Turkey ($X per tonne), while the price for Croatia ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Turkey, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude palm oil in the world?

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The country with the largest volume of crude palm oil consumption was Indonesia (36M tonnes), accounting for 46% of total volume. Moreover, crude palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, Malaysia (17M tonnes), twofold. India (6.6M tonnes) ranked third in terms of total consumption with a 8.5% share.

What are the largest producers of crude palm oil in the world?

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Indonesia (44M tonnes) constituted the country with the largest volume of crude palm oil production, comprising approx. 58% of total volume. Moreover, crude palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia (20M tonnes), twofold. The third position in this ranking was occupied by Thailand (3M tonnes), with a 4% share.

What are the leading suppliers of crude palm oil to Romania?

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In value terms, Turkey ($42K) constituted the largest supplier of crude palm oil to Romania, comprising 63% of total imports. The second position in the ranking was occupied by Italy ($12K), with a 18% share of total imports. It was followed by Bulgaria, with a 15% share.

What are the leading importers of crude palm oil from Romania?

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In value terms, the Netherlands ($463) remains the key foreign market for crude palm oil exports from Romania, comprising 77% of total exports. The second position in the ranking was occupied by the U.S. ($133), with a 22% share of total exports.

What is the average export price for crude palm oil in Romania?

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In 2019, the average crude palm oil export price amounted to $1,149 per tonne, falling by -25.1% against the previous year.

What is the average import price for crude palm oil in Romania?

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The average crude palm oil import price stood at $1,512 per tonne in 2019, surging by 6% against the previous year.