Ukraine: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in Ukraine

In 2022, after two years of growth, there was significant decline in the Ukrainian refined palm oil market, when its value decreased by X% to $X. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then fell rapidly in the following year.

Refined Palm Oil Production in Ukraine

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 pronounced decline. The most prominent rate of growth was recorded in 2020 with an increase of X%. Refined palm oil production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Refined Palm Oil Exports

Exports from Ukraine

In 2022, the amount of refined palm oil exported from Ukraine declined significantly to X tons, reducing by X% compared with the previous year's figure. In general, exports recorded a precipitous descent. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, refined palm oil exports contracted sharply to $X in 2022. Over the period under review, exports recorded a sharp setback. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Moldova (X tons), North Macedonia (X tons) and Serbia (X tons) were the main destinations of refined palm oil exports from Ukraine, with a combined X% share of total exports. Bulgaria, Belarus and Armenia lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for refined palm oil exported from Ukraine were Moldova ($X), North Macedonia ($X) and Serbia ($X), with a combined X% share of total exports. Bulgaria, Belarus and Armenia lagged somewhat behind, together accounting for a further X%.

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

Export Prices by Country

In 2022, the average refined palm oil export price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price showed a strong expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. The export price peaked in 2022 and is likely to continue growth in the near future.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Moldova ($X per ton) and North Macedonia ($X per ton), while the average price for exports to Armenia ($X per ton) and Belarus ($X per ton) were amongst the lowest.

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

Refined Palm Oil Imports

Imports into Ukraine

Refined palm oil imports into Ukraine declined markedly to X tons in 2022, waning by X% compared with the previous year. Overall, imports showed a perceptible setback. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2021, and then reduced markedly in the following year.

In value terms, refined palm oil imports shrank remarkably to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2021, and then contracted remarkably in the following year.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest refined palm oil supplier to Ukraine, accounting for a X% share of total imports. Moreover, refined palm oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fivefold. The third position in this ranking was taken by Germany (X tons), with a X% share.

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

In value terms, Indonesia ($X) constituted the largest supplier of refined palm oil to Ukraine, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average refined palm oil import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price saw a moderate expansion. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Spain ($X per ton) and Sweden ($X per ton), while the price for Indonesia ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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