Belgium: Linseed Market 2024

Linseed Market Size in Belgium

In 2022, after four years of growth, there was significant decline in the Belgian linseed market, when its value decreased by -13.3% to $X. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Linseed Production in Belgium

In value terms, linseed production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 18% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The average yield of linseed in Belgium declined notably to X tons per ha in 2022, with a decrease of -98.3% against the previous year. Over the period under review, the yield, however, showed buoyant growth. The growth pace was the most rapid in 2021 with an increase of 11,552% against the previous year. As a result, the yield reached the peak level of X tons per ha, and then shrank markedly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The linseed harvested area in Belgium surged to X ha in 2022, increasing by 5,803% against the previous year's figure. Over the period under review, the harvested area, however, continues to indicate a noticeable setback. The linseed harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area remained at a lower figure.

Linseed Exports

Exports from Belgium

In 2022, overseas shipments of linseed decreased by -35.9% to X tons, falling for the second year in a row after two years of growth. Overall, exports saw a noticeable contraction. The pace of growth appeared the most rapid in 2020 with an increase of 52%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, linseed exports dropped rapidly to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 65%. Over the period under review, the exports reached the maximum at $X in 2021, and then dropped rapidly in the following year.

Exports by Country

The Netherlands (X tons), Germany (X tons) and France (X tons) were the main destinations of linseed exports from Belgium, together comprising 74% of total exports. The UK, Denmark, Norway and Switzerland lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +8.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and France ($X) appeared to be the largest markets for linseed exported from Belgium worldwide, with a combined 72% share of total exports. The UK, Denmark, Norway and Switzerland lagged somewhat behind, together comprising a further 22%.

Denmark, with a CAGR of +12.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average linseed export price amounted to $X per ton, surging by 23% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, linseed export price increased by +77.6% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 32%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the UK ($X per ton) and Norway ($X per ton), while the average price for exports to the Netherlands ($X per ton) and Switzerland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Linseed Imports

Imports into Belgium

In 2022, purchases abroad of linseed decreased by -27.3% to X tons, falling for the second consecutive year after three years of growth. Overall, imports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2014 when imports increased by 23%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, linseed imports declined sharply to $X in 2022. In general, total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% 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 +81.5% against 2017 indices. The growth pace was the most rapid in 2021 with an increase of 42% against the previous year. As a result, imports attained the peak of $X, and then shrank dramatically in the following year.

Imports by Country

Kazakhstan (X tons), Russia (X tons) and France (X tons) were the main suppliers of linseed imports to Belgium, with a combined 93% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Kazakhstan (with a CAGR of +1.4%), while imports for the other leaders experienced a decline.

In value terms, Kazakhstan ($X), Russia ($X) and France ($X) appeared to be the largest linseed suppliers to Belgium, together accounting for 93% of total imports.

Kazakhstan, with a CAGR of +6.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average linseed import price stood at $X per ton in 2022, surging by 14% against the previous year. Over the period under review, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, linseed import price increased by +105.2% against 2016 indices. The growth pace was the most rapid in 2021 an increase of 44% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the UK ($X per ton) and Kazakhstan ($X per ton), while the price for Canada ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :