Romania: Crude Palm Oil Market 2022

Crude Palm Oil Market Size in Romania

In 2021, the Romanian crude palm oil market increased by X% to $X, rising for the fifth consecutive year after four years of decline. Overall, consumption, however, continues to indicate a abrupt slump. Crude palm oil consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Crude Palm Oil Exports

Exports from Romania

Crude palm oil exports from Romania soared to X tons in 2021, increasing by X% on the previous year. Over the period under review, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, crude palm oil exports soared to $X in 2021. In general, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Bulgaria (X tons) was the main destination for crude palm oil exports from Romania, accounting for a approx. X% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Bulgaria totaled +X%.

From 2012 to 2021, the average annual growth rate of value to Bulgaria totaled +X%.

Export Prices by Country

In 2021, the average crude palm oil export price amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Bulgaria.

From 2012 to 2021, the rate of growth in terms of prices for Bulgaria amounted to -X% per year.

Crude Palm Oil Imports

Imports into Romania

In 2021, the amount of crude palm oil imported into Romania skyrocketed to X tons, with an increase of X% compared with 2020 figures. Over the period under review, imports, however, continue to indicate a deep reduction. The growth pace was the most rapid in 2018 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, crude palm oil imports soared to $X in 2021. Overall, imports, however, showed a abrupt contraction. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of crude palm oil to Romania, with a X% share of total imports. Moreover, crude palm oil imports from Italy exceeded the figures recorded by the second-largest supplier, Greece (X tons), threefold. The third position in this ranking was held by Bulgaria (X tons), with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Italy stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (+X% per year) and Bulgaria (-X% per year).

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

From 2012 to 2021, the average annual growth rate of value from Italy stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (+X% per year) and Croatia (+X% per year).

Import Prices by Country

The average crude palm oil import price stood at $X per ton in 2021, rising by X% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, crude palm oil import price increased by +X% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of X%. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Croatia (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform