Canada: Vegetable Oils Market 2024

Vegetable Oils Market Size in Canada

For the third consecutive year, the Canadian vegetable oils market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption, however, saw a pronounced descent. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Vegetable Oils Production in Canada

In value terms, vegetable oils production rose modestly to $X in 2022 estimated in export price. Overall, production, however, recorded a slight reduction. The growth pace was the most rapid in 2015 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Vegetable Oils Exports

Exports from Canada

In 2022, shipments abroad of vegetable fats and oils was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, showed a abrupt downturn. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, vegetable oils exports skyrocketed to $X in 2022. Over the period under review, exports, however, faced a abrupt slump. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for vegetable oils exports from Canada, accounting for a X% share of total exports. Moreover, vegetable oils exports to the United States exceeded the volume sent to the second major destination, Japan (X tons), fivefold. India (X tons) ranked third in terms of total exports with a X% share.

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

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

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and India (X% per year).

Export Prices by Country

The average vegetable oils export price stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Guam ($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 the United States (X%), while the prices for the other major destinations experienced a decline.

Vegetable Oils Imports

Imports into Canada

In 2022, supplies from abroad of vegetable fats and oils increased by X% to X tons, rising for the third year in a row after seven years of decline. Overall, imports, however, recorded a abrupt contraction. 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, imports, however, recorded a noticeable setback. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), Malaysia (X tons) and Indonesia (X tons) were the main suppliers of vegetable oils imports to Canada, with a combined X% share of total imports. The Philippines, Sri Lanka and China lagged somewhat behind, together accounting for a further X%.

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

In value terms, the United States ($X), Malaysia ($X) and Indonesia ($X) constituted the largest vegetable oils suppliers to Canada, with a combined X% share of total imports. The Philippines, Sri Lanka and China lagged somewhat behind, together accounting for a further X%.

Sri Lanka, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers 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, jumping by X% against the previous year. Over the period under review, import price indicated resilient 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. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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