CIS: Crude Groundnut Oil Market 2024

Crude Groundnut Oil Market Size in CIS

The CIS crude groundnut oil market contracted slightly to $X in 2022, reducing by X% against the previous year. Overall, consumption, however, enjoyed strong growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Crude Groundnut Oil Production in CIS

In value terms, crude groundnut oil production fell notably to $X in 2022 estimated in export price. Over the period under review, production saw a significant increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Crude Groundnut Oil Exports

Exports in CIS

In 2022, crude groundnut oil exports in the CIS rose modestly to X tons, surging by X% on the year before. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, crude groundnut oil exports shrank rapidly to $X in 2022. Overall, exports recorded a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of X%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Uzbekistan (X tons) represented roughly X% of total exports in 2022.

Uzbekistan was also the fastest-growing in terms of the crude groundnut oil exports, with a CAGR of X% from 2012 to 2022. While the share of Uzbekistan (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In Uzbekistan, crude groundnut oil exports shrank by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2018 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Uzbekistan amounted to X% per year.

Crude Groundnut Oil Imports

Imports in CIS

Crude groundnut oil imports declined rapidly to X tons in 2022, with a decrease of X% against 2021 figures. In general, imports recorded a abrupt decrease. The pace of growth was the most pronounced in 2019 with an increase of X%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, crude groundnut oil imports declined markedly to $X in 2022. Over the period under review, imports faced a deep contraction. The pace of growth appeared the most rapid in 2019 with an increase of X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Belarus was the main importer of crude groundnut oil in the CIS, with the volume of imports finishing at X tons, which was near X% of total imports in 2022. Kyrgyzstan (X kg) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Russia (X%). Tajikistan (X kg) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to crude groundnut oil imports into Belarus stood at X%. At the same time, Kyrgyzstan (X%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2022. By contrast, Tajikistan (X%) and Russia (X%) illustrated a downward trend over the same period. Belarus (X p.p.), Kyrgyzstan (X p.p.) and Tajikistan (X p.p.) significantly strengthened its position in terms of the total imports, while Russia saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Belarus ($X) constitutes the largest market for imported crude groundnut oil in the CIS, comprising X% of total imports. The second position in the ranking was held by Russia ($X), with a X% share of total imports. It was followed by Tajikistan, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Belarus amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Russia (X% per year) and Tajikistan (X% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price saw a perceptible shrinkage. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tajikistan (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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