CIS: Crude Rapeseed Oil Market 2024

Crude Rapeseed Oil Market Size in CIS

After three years of growth, the CIS crude rapeseed oil market decreased by -5% to $X in 2022. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Crude Rapeseed Oil Production in CIS

In value terms, crude rapeseed oil production rose modestly to $X in 2022 estimated in export price. Overall, production, however, showed a prominent expansion. The growth pace was the most rapid in 2018 when the production volume increased by 59% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Crude Rapeseed Oil Exports

Exports in CIS

In 2022, exports of crude rape, colza or mustard oil in the CIS dropped modestly to X tons, which is down by -1.5% on the year before. In general, exports, however, saw buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 101% against the previous year. The volume of export peaked at X tons in 2021, and then fell modestly in the following year.

In value terms, crude rapeseed oil exports shrank to $X in 2022. Over the period under review, exports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 88% against the previous year. The level of export peaked at $X in 2021, and then shrank in the following year.

Exports by Country

Russia was the key exporting country with an export of around X tons, which accounted for 64% of total exports. It was distantly followed by Belarus (X tons), committing a 32% share of total exports. Kazakhstan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Kazakhstan (with a CAGR of +35.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Belarus ($X) and Kazakhstan ($X) constituted the countries with the highest levels of exports in 2022, with a combined 100% share of total exports.

In terms of the main exporting countries, Kazakhstan, with a CAGR of +39.7%, saw 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

In 2022, the export price in the CIS amounted to $X per ton, with a decrease of -8.4% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by 45%. As a result, the export price reached the peak level of $X per ton, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+3.3%), while the other leaders experienced mixed trends in the export price figures.

Crude Rapeseed Oil Imports

Imports in CIS

After two years of growth, supplies from abroad of crude rape, colza or mustard oil decreased by -7.9% to X tons in 2022. Over the period under review, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 1,353%. The volume of import peaked at X tons in 2021, and then shrank in the following year.

In value terms, crude rapeseed oil imports contracted sharply to $X in 2022. In general, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 1,585%. The level of import peaked at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

Russia prevails in imports structure, finishing at X tons, which was approx. 87% of total imports in 2022. It was distantly followed by Tajikistan (X tons) and Belarus (X tons), together achieving a 12% share of total imports.

Russia was also the fastest-growing in terms of the crude rape, colza or mustard oil imports, with a CAGR of +50.2% from 2012 to 2022. At the same time, Tajikistan (+49.2%) and Belarus (+21.2%) displayed positive paces of growth. Russia (+32 p.p.) and Tajikistan (+2 p.p.) significantly strengthened its position in terms of the total imports, while Belarus saw its share reduced by -24.8% from 2012 to 2022, respectively.

In value terms, Russia ($X) constitutes the largest market for imported crude rape, colza or mustard oil in the CIS, comprising 87% of total imports. The second position in the ranking was taken by Belarus ($X), with a 6.4% share of total imports.

In Russia, crude rapeseed oil imports increased at an average annual rate of +49.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Belarus (+21.7% per year) and Tajikistan (+51.2% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, waning by -11% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 37%. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belarus ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tajikistan (+1.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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