Benelux: Crude Rapeseed Oil Market 2024

Crude Rapeseed Oil Market Size in Benelux

In 2022, the Benelux crude rapeseed oil market decreased by -1.2% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption recorded a slight shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Crude Rapeseed Oil Production in Benelux

In value terms, crude rapeseed oil production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 44%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Crude Rapeseed Oil Exports

Exports in Benelux

In 2022, after three years of growth, there was significant decline in overseas shipments of crude rape, colza or mustard oil, when their volume decreased by -22.1% to X tons. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by 87%. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted sharply in the following year.

In value terms, crude rapeseed oil exports shrank to $X in 2022. Overall, exports, however, saw notable growth. The most prominent rate of growth was recorded in 2021 when exports increased by 112% against the previous year. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

The Netherlands was the key exporter of crude rape, colza or mustard oil in Benelux, with the volume of exports finishing at X tons, which was near 67% of total exports in 2022. It was distantly followed by Belgium (X tons), comprising a 33% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Belgium (with a CAGR of +2.4%).

In value terms, the largest crude rapeseed oil supplying countries in Benelux were the Netherlands ($X) and Belgium ($X).

Among the main exporting countries, Belgium, with a CAGR of +5.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Benelux amounted to $X per ton, growing by 19% against the previous year. Export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude rapeseed oil export price increased by +88.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 50%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.0%).

Crude Rapeseed Oil Imports

Imports in Benelux

In 2022, after four years of growth, there was significant decline in supplies from abroad of crude rape, colza or mustard oil, when their volume decreased by -15.3% to X tons. Total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.9% 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 +59.6% against 2017 indices. The pace of growth was the most pronounced in 2021 when imports increased by 34%. As a result, imports reached the peak of X tons, and then fell remarkably in the following year.

In value terms, crude rapeseed oil imports rose sharply to $X in 2022. Over the period under review, imports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 92%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

The Netherlands (X tons) and Belgium (X tons) represented roughly 99.9% of total imports in 2022.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +6.3%).

In value terms, the Netherlands ($X) and Belgium ($X) appeared to be the countries with the highest levels of imports in 2022.

Belgium, with a CAGR of +9.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review.

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per ton, with an increase of 25% against the previous year. Import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude rapeseed oil import price increased by +96.6% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 43%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.2%).

Source: IndexBox Platform