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Australia - Rapeseed Oil - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Australia - Rapeseed Oil - Market Analysis, Forecast, Size, Trends and Insights

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Nov 6, 2023

Australia's August 2023 Export of Rapeseed Oil Soars to $27M, Surging by 93%

Australia Rapeseed Oil Exports

After two months of decline, overseas shipments of rapeseed oil increased by 149% to 24K tons in August 2023. Over the period under review, exports recorded a notable increase. The growth pace was the most rapid in May 2023 when exports increased by 237% month-to-month. The exports peaked in August 2023.

In value terms, rapeseed oil exports soared to $27M (IndexBox estimates) in August 2023. In general, exports, however, saw a mild setback. The growth pace was the most rapid in May 2023 when exports increased by 151% m-o-m.Australia Rapeseed Oil Exports By Country (Million USD)

COUNTRYExport Value of Rapeseed Oil in Australia (million USD)
Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023Aug 2023
South Korea9.54.70.64.73.62.80.33.50.71.70.42.58.5
New Zealand1.79.86.29.78.215.413.68.74.45.13.87.87.6
Taiwan (Chinese)4.63.76.92.15.94.13.14.72.02.72.40.63.5
United States8.83.94.82.82.14.21.51.91.01.21.21.01.2
Indonesia0.21.00.50.50.61.21.30.60.50.60.30.40.8
MalaysiaN/A5.5< 0.12.26.0N/AN/A0.90.4N/A3.50.30.7
Others8.81.92.62.33.91.11.912.22.417.61.31.54.9
Total33.730.521.724.330.328.921.732.411.528.812.914.127.2

Exports by Country

South Korea (8.9K tons), New Zealand (5.4K tons) and Taiwan (Chinese) (3.2K tons) were the main destinations of rapeseed oil exports from Australia, with a combined 73% share of total exports. These countries were followed by the United States, Malaysia and Indonesia, which together accounted for a further 9.6%.

From August 2022 to August 2023, the biggest increases were in Indonesia (with a CAGR of +16.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for rapeseed oil exported from Australia were South Korea ($8.5M), New Zealand ($7.6M) and Taiwan (Chinese) ($3.5M), with a combined 72% share of total exports.

New Zealand, with a CAGR of +13.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Exports by Type

Vegetable oils; low erucic acid rape or colza oil and its fractions, crude (16K tons) was the largest type of rapeseed oil exported from Australia, accounting for a 66% share of total exports. Moreover, vegetable oils; low erucic acid rape or colza oil and its fractions, crude exceeded the volume of the second product type, vegetable oils; low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified (7.7K tons), twofold.

From August 2022 to August 2023, the average monthly rate of growth in terms of the volume of export of vegetable oils; low erucic acid rape or colza oil and its fractions, crude stood at +3.2%. With regard to the other exported products, the following average monthly rates of growth were recorded: vegetable oils; low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified (+2.5% per month) and vegetable oils; excluding low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified (+1.7% per month).

In value terms, the most traded types of rapeseed oil in Australia were vegetable oils; low erucic acid rape or colza oil and its fractions, crude ($17M), vegetable oils; low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified ($10M) and vegetable oils; excluding low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified ($285K).

Vegetable oils; low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified, with a CAGR of -0.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main product categories over the period under review, while shipments for the other products experienced a decline.

Export Prices by Country

In August 2023, the rapeseed oil price amounted to $1,131 per ton (FOB, Australia), reducing by -22.4% against the previous month. In general, the export price saw a noticeable decrease. The growth pace was the most rapid in July 2023 when the average export price increased by 27% m-o-m. The export price peaked at $2,096 per ton in December 2022; however, from January 2023 to August 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In August 2023, the highest price was recorded for prices to New Zealand ($1,413 per ton) and the United States ($1,302 per ton), while the average price for exports to South Korea ($952 per ton) and Malaysia ($982 per ton) were amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (-2.1%), while the prices for the other major destinations experienced a decline.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the rapeseed oil market in Australia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 271 - Oil of Rapeseed or Canola oil

Country coverage:

  • Australia

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Australia
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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