Groundnut oil and fractions market in Eastern Europe (including Northern Asia)

Earlier Report Observations

The market for groundnut oil in Eastern Europe opened at 21 372 tonnes in 2018, supported by a general increase in production of unrefined vegetable oils and active development of the oil and fat industry involving state-owned companies. However, volume contracted to 20 541 tonnes in 2019 as international sanctions and trade restrictions impacted access to raw materials and export markets, even amid the entry of new players and consolidation of major firms. A further decline to 18 032 tonnes followed in 2020, primarily driven by a surge of over 170% in wholesale sunflower oil prices, which altered consumer spending and reduced demand for groundnut oil.

A turnaround began in 2021, with the market growing to 19 219 tonnes as sanctions encouraged localization of production and the emergence of new product segments, such as specialized oils for the food industry. Expansion continued in 2022, with volume reaching 21 424 tonnes, fueled by increased output of unrefined oils and growing exports to friendly countries. The market then stabilized at 21 484 tonnes in 2023, supported by the launch of new large-scale production facilities and sustained consumer preference for natural and unrefined oils.

Production groundnut oil and fractions in Eastern Europe (including Northern Asia)

In kind, 2017-2020, t

Top producers of groundnut oil and fractions, 2017-2020

World map of production of groundnut oil and fractions, 2017-2020

The market exhibited volatility during the observed period. Production reached its lowest point in 2017 and peaked in 2018, with a 1.8-fold difference between these years. In 2020, Eastern Europe (including Northern Asia) produced 18 000 tonnes of groundnut oil and fractions, representing a 12.0% decline compared to the previous year. The highest production volume was recorded in 2018 at 21 118 tonnes, which also saw the largest annual increase of 83.1%.

Annual dynamics of production in Eastern Europe (including Northern Asia) in kind, 2017-2020, t

Exports groundnut oil and fractions from Eastern Europe (including Northern Asia)

Exports in kind, t

Exports of groundnut oil and fractions from Eastern Europe (including Northern Asia) grew for the third consecutive year. In 2020, exports reached 148.0 tonnes, marking a 45.5% increase from 2019. Between 2017 and 2020, exports surged by 778.9%, equivalent to an annualized growth rate of 106.4%.

Annual dynamics of product's exports from Eastern Europe (including Northern Asia) in kind, 2017-2020, t

From 2017 to 2020, Italy was the primary market for groundnut oil and fractions from Eastern Europe (including Northern Asia), accounting for 75.5% of total exports in volume. Other destinations contributed to a smaller portion of the export structure.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Eastern Europe (including Northern Asia) in kind, 2017-2020

Exports in value, K $ US

The market experienced notable fluctuations during this period. Export values reached their lowest point in 2017 and peaked in 2019, with a 3.3-fold difference between these years. In 2020, Eastern Europe (including Northern Asia) exported groundnut oil and fractions worth 164 000 US dollars, a 52.5% decrease from 2019. The highest value was recorded in 2019 at 345 000 US dollars, which also saw the largest annual increase of 123.4%.

Annual dynamics of product's exports from Eastern Europe (including Northern Asia) in value, 2017-2020, K $ US

Between 2017 and 2020, Italy (54.8% of export value), Germany (12.7%), and Iran (3.4%) led the export structure in value terms, collectively representing 70.9% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Eastern Europe (including Northern Asia) in value, 2017-2020

Imports groundnut oil and fractions to Eastern Europe (including Northern Asia)

Imports in kind, t

Imports of groundnut oil and fractions into Eastern Europe (including Northern Asia) declined for the third consecutive year. In 2020, imports amounted to 179.2 tonnes, a 4.0% decrease compared to the previous year. From 2017 to 2020, imports fell by 64.7%, corresponding to an annualized decline rate of 29.3%.

Annual dynamics of product's imports to Eastern Europe (including Northern Asia) in kind, 2017-2020, t

Throughout 2017–2020, Italy (30.7% of import volume), the Netherlands (10.6%), and France (10.0%) were the main sources for groundnut oil and fractions imports into Eastern Europe (including Northern Asia), together accounting for 51.2% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Eastern Europe (including Northern Asia) in kind, 2017-2020

Imports in value, K $ US

Import values for groundnut oil and fractions into Eastern Europe (including Northern Asia) decreased for the third year in a row. In 2020, imports totaled 507 000 US dollars, showing a modest reduction of 2.8% from the previous year. Over the period from 2017 to 2020, imports dropped by 73%, with a compound annual growth rate (CAGR) of -35.4%.

Annual dynamics of product's imports to Eastern Europe (including Northern Asia) in value, 2017-2020, K $ US

From 2017 to 2020, Europe, not elsewhere specified (26.2% of import value), Italy (25.3%), and Germany (13.4%) were the leading sources in the import structure by value, with a combined share of 64.9% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Eastern Europe (including Northern Asia) in value, 2017-2020