VEGETABLE OILS - MARGARINE
|Publication Year||November, 2018|
The sector consists of companies manufacturing, processing and standardizing companies of vegetable oils and margarine, companies dealing only with the standardization of vegetable oils and importers.
The overall domestic production of vegetable oils has increased in recent years (2.7% in 2017). Sunflower oil has accounted for the largest part of total production (54%) followed by soybean oil (26%). Total margarine production is estimated to have registered a slight rise in 2017 compared to 2016.
The total domestic consumption of vegetable oils increased by 4.2% in 2017 compared to 2016. Sunflower oil had the lion’s share with approximately 51% in 2017 followed by soybean oil and maize oil with 13.3% and 7.7% respectively. Margarine consumption registered an annual rise of 3.6% in 2017.
According to estimates, the retail market (supermarkets, food stores etc.) absorbs approximately 30% of the total vegetable oil market while food industry and other professional sectors (restaurants, catering, hotels, etc.) absorb the remaining 70%.