Bahrain: Crude Rapeseed Oil Market 2024

Crude Rapeseed Oil Market Size in Bahrain

The Bahraini crude rapeseed oil market rose to $X in 2022, picking up by 4% against the previous year. In general, consumption enjoyed a buoyant increase. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Crude Rapeseed Oil Production in Bahrain

In value terms, crude rapeseed oil production totaled $X in 2022 estimated in export price. Over the period under review, production saw resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 31% against the previous year. Crude rapeseed oil production peaked at $X in 2020; afterwards, it flattened through to 2022.

Crude Rapeseed Oil Exports

Exports from Bahrain

In 2022, exports of crude rape, colza or mustard oil from Bahrain fell dramatically to X kg, with a decrease of -87.1% against the year before. Overall, exports continue to indicate a dramatic decrease. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, crude rapeseed oil exports plummeted to $X in 2022. Over the period under review, exports showed a dramatic slump. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Oman (X kg) was the main destination for crude rapeseed oil exports from Bahrain, with a 69% share of total exports. Moreover, crude rapeseed oil exports to Oman exceeded the volume sent to the second major destination, Saudi Arabia (X kg), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Oman amounted to +451.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-72.1% per year) and Jordan (-85.7% per year).

In value terms, Oman ($X) emerged as the key foreign market for crude rape, colza or mustard oil exports from Bahrain, comprising 61% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 29% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Oman amounted to +889.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-65.4% per year) and Jordan (-71.7% per year).

Export Prices by Country

In 2022, the average crude rapeseed oil export price amounted to $X per ton, jumping by 204% against the previous year. In general, the export price continues to indicate a resilient increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Jordan ($X per ton), while the average price for exports to Oman ($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 Jordan (+98.3%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Rapeseed Oil Imports

Imports into Bahrain

In 2022, imports of crude rape, colza or mustard oil into Bahrain surged to X tons, with an increase of 107% against the previous year's figure. In general, imports continue to indicate a moderate increase. The most prominent rate of growth was recorded in 2020 with an increase of 224% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, crude rapeseed oil imports soared to $X in 2022. Overall, imports saw buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 188% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, India (X tons) constituted the largest crude rapeseed oil supplier to Bahrain, with a 59% share of total imports. Moreover, crude rapeseed oil imports from India exceeded the figures recorded by the second-largest supplier, Bangladesh (X tons), twofold. Canada (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to +46.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (+15.6% per year) and Canada (-3.5% per year).

In value terms, India ($X) constituted the largest supplier of crude rape, colza or mustard oil to Bahrain, comprising 65% of total imports. The second position in the ranking was held by Canada ($X), with a 23% share of total imports. It was followed by Bangladesh, with a 9% share.

From 2012 to 2022, the average annual growth rate of value from India stood at +46.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+1.8% per year) and Bangladesh (+16.8% per year).

Import Prices by Country

The average crude rapeseed oil import price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2013 an increase of 40%. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 France ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform