Austria: Vegetable Oils Market 2024

Vegetable Oils Market Size in Austria

In 2022, the Austrian vegetable oils market increased by X% to $X, rising for the second consecutive year after six years of decline. Overall, consumption showed a perceptible curtailment. Vegetable oils consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Vegetable Oils Production in Austria

In value terms, vegetable oils production fell dramatically to $X in 2022 estimated in export price. Overall, production continues to indicate a deep slump. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. Vegetable oils production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Vegetable Oils Exports

Exports from Austria

In 2022, approx. X tons of vegetable fats and oils were exported from Austria; waning by X% on 2021. Over the period under review, exports, however, posted prominent growth. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, vegetable oils exports expanded notably to $X in 2022. Overall, exports, however, showed resilient growth. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

Slovakia (X tons) was the main destination for vegetable oils exports from Austria, accounting for a X% share of total exports. Moreover, vegetable oils exports to Slovakia exceeded the volume sent to the second major destination, Croatia (X tons), tenfold. Germany (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Slovakia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (X% per year) and Germany (X% per year).

In value terms, Slovakia ($X) remains the key foreign market for vegetable fats and oils exports from Austria, comprising X% of total exports. The second position in the ranking was held by Croatia ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Slovakia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average vegetable oils export price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced a decline.

Vegetable Oils Imports

Imports into Austria

Vegetable oils imports into Austria dropped dramatically to X tons in 2022, shrinking by X% compared with the year before. Overall, imports continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, vegetable oils imports soared to $X in 2022. Over the period under review, total imports indicated a slight increase 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

The Netherlands (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of vegetable oils imports to Austria, with a combined X% share of total imports. India, Italy and the Czech Republic lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vegetable oils suppliers to Austria were Germany ($X), the Netherlands ($X) and Belgium ($X), together accounting for X% of total imports. The Czech Republic, India and Italy lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, the Czech Republic, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average vegetable oils import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2022: its price 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, vegetable oils import price increased by X% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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