Edible oils have seen exponential growth in current value retail sales in 2021. This is partly a result of supply side issues.
Like most countries, the pandemic has tipped Belarus into recession, and it faces a struggle to emerge from this in 2021. A large external debt, economic isolation as a result of the country’s close ties to Russia and a slow vaccination rollout are all set to dampen any prospect of recovery, and consumer confidence and spending power have weakened.
In November 2020, the government added rapeseed oil to its list of price-controlled staple goods for retail outlets. Locally produced rapeseed oil and a number of Russian brands have seen availability improve strongly in 2021 as a result of this.
There is set to be opportunity for alternatives to sunflower oil, the most widely used edible oil in Belarus, over the forecast period. Price rises, supply side issues and falling levels of disposable income mean that consumers will be increasingly receptive to alternatives, especially those with more competitive pricing.
The pandemic has strengthened consumer health awareness in Belarus, and as result, there is set to be strengthening demand for oil products with stronger functional health positioning. This is despite the frequently far higher prices of these products.
The combined share of private label will continue to see strong growth over the forecast period, with key players including Gusto, Ochen! and Mestnoe Izvestnoe set to make gains. Greenroznitsa will also enlarge its assortment of premium edible oils made from black cumin, pumpkin, hemp, cedar and hand-made sunflower oil.
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Edible Oils
This is the aggregation of olive oil and vegetable and seed oil (which comprises of corn oil, palm oil, rapeseed oil, soy oil, sunflower oil, and other edible oil). Please note blended oil that contain over 50% of one type of oil are categorised in that category, e.g. blended oil with 60% soy oil is categorised in soy oil; whereas blended oils with less than 50% of a specific type of oil are categorised in other edible oil. Includes: Pre-packaged edible oils products purchased by consumers through legally established retail channels. Excludes: Unpackaged/bulk oils, i.e. instances where consumers bring an empty container or plastic bag to be (re)filled with cooking oil. Example: Minyak curah in Indonesia.
See All of Our DefinitionsThis report originates from Passport, our Edible Oils research and analysis database.
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