CIS: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in CIS

For the third year in a row, the CIS refined palm oil market recorded growth in sales value, which increased by X% to $X in 2022. The total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. The level of consumption peaked in 2022 and is likely to continue growth in the immediate term.

Refined Palm Oil Production in CIS

In value terms, refined palm oil production totaled $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Refined Palm Oil Exports

Exports in CIS

In 2022, the amount of refined palm oil exported in the CIS shrank significantly to X tons, dropping by X% against the previous year's figure. Overall, exports, however, saw prominent growth. The pace of growth was the most pronounced 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, refined palm oil exports expanded remarkably to $X in 2022. In general, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Russia prevails in exports structure, amounting to X tons, which was approx. X% of total exports in 2022. Kazakhstan (X tons) took a little share of total exports.

Exports from Russia increased at an average annual rate of X% from 2012 to 2022. At the same time, Kazakhstan (X%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Kazakhstan increased by X percentage points.

In value terms, Russia ($X) remains the largest refined palm oil supplier in the CIS, comprising X% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a X% share of total exports.

In Russia, refined palm oil exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price showed a tangible expansion. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Russia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%).

Refined Palm Oil Imports

Imports in CIS

In 2022, the amount of refined palm oil imported in the CIS rose to X tons, surging by X% on the year before. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2015 indices. The growth pace was the most rapid in 2014 when imports increased by X%. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, refined palm oil imports skyrocketed to $X in 2022. Overall, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Russia dominates imports structure, finishing at X tons, which was near X% of total imports in 2022. Kazakhstan (X tons) and Uzbekistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to refined palm oil imports into Russia stood at X%. At the same time, Uzbekistan (X%) and Kazakhstan (X%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Uzbekistan increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported refined palm oil in the CIS, comprising X% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia totaled X%. In the other countries, the average annual rates were as follows: Kazakhstan (X% per year) and Uzbekistan (X% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, jumping by X% against the previous year. In general, the import price continues to indicate a noticeable expansion. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while Russia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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