Canada: Oil Crops Market 2024

Oil Crops Market Size in Canada

The Canadian oil crops market was finally on the rise to reach $X in 2022, after two years of decline. Overall, the total consumption indicated a noticeable 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. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Oil Crops Production in Canada

In value terms, oil crops production reached $X in 2022 estimated in export price. Overall, production, however, showed a mild decline. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

In 2022, the average yield of oil crops (primary) in Canada surged to X tons per ha, jumping by X% on the previous year. The yield figure increased at an average annual rate of X% 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 2013 with an increase of X%. Over the period under review, the average oil crops yield attained the maximum level at X tons per ha in 2016; however, from 2017 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of oil crops (primary) in Canada fell to X ha, waning by X% compared with 2021 figures. Over the period under review, the harvested area, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. As a result, the harvested area reached the peak level of X ha. From 2018 to 2022, the growth of the oil crops harvested area remained at a lower figure.

Oil Crops Exports

Exports from Canada

In 2022, approx. X tons of oil crops (primary) were exported from Canada; declining by X% on 2021 figures. Over the period under review, exports continue to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of X%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, oil crops exports contracted to $X in 2022. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then shrank in the following year.

Exports by Country

China (X tons) was the main destination for oil crops exports from Canada, accounting for a X% share of total exports. Moreover, oil crops exports to China exceeded the volume sent to the second major destination, Japan (X tons), twofold. Mexico (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Mexico (X% per year).

In value terms, China ($X), Japan ($X) and Mexico ($X) constituted the largest markets for oil crops exported from Canada worldwide, together comprising X% of total exports. The United States, Iran, Italy, France, Pakistan, Indonesia, Belgium, Algeria, the Netherlands and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Algeria, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average oil crops export price stood at $X per ton in 2022, rising by X% against the previous year. In general, export price indicated modest 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, oil crops export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. The export price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Iran ($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 Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Crops Imports

Imports into Canada

In 2022, overseas purchases of oil crops (primary) increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, oil crops imports skyrocketed to $X in 2022. Overall, total imports indicated resilient growth 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 growth pace was the most rapid in 2018 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest oil crops supplier to Canada, accounting for a X% share of total imports. Moreover, oil crops imports from the United States exceeded the figures recorded by the second-largest supplier, Togo (X tons), more than tenfold. The third position in this ranking was held by India (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Togo (X% per year) and India (X% per year).

In value terms, the United States ($X) constituted the largest supplier of oil crops (primary) to Canada, comprising X% of total imports. The second position in the ranking was taken by Togo ($X), with a X% share of total imports. It was followed by India, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Togo (X% per year) and India (X% per year).

Import Prices by Country

The average oil crops import price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 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 China ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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