Croatia: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in Croatia

In 2022, the Croatian refined rapeseed oil market decreased by -30.6% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption recorded a abrupt downturn. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Refined Rapeseed Oil Production in Croatia

In value terms, refined rapeseed oil production reduced markedly to $X in 2022 estimated in export price. In general, production recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when the production volume increased by 54% against the previous year. Refined rapeseed oil production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Refined Rapeseed Oil Exports

Exports from Croatia

In 2022, shipments abroad of refined rape, colza or mustard oil increased by 19% to X tons, rising for the second year in a row after three years of decline. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 389%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, refined rapeseed oil exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 364% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Austria (X tons) was the main destination for refined rapeseed oil exports from Croatia, accounting for a 47% share of total exports. Moreover, refined rapeseed oil exports to Austria exceeded the volume sent to the second major destination, Italy (X tons), threefold. Serbia (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Austria totaled +8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-24.4% per year) and Serbia (+4.2% per year).

In value terms, Austria ($X) emerged as the key foreign market for refined rape, colza or mustard oil exports from Croatia, comprising 45% of total exports. The second position in the ranking was held by Italy ($X), with a 16% share of total exports. It was followed by Serbia, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Austria totaled +27.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-17.1% per year) and Serbia (+5.0% per year).

Export Prices by Country

The average refined rapeseed oil export price stood at $X per ton in 2022, rising by 27% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 30%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were North Macedonia ($X per ton) and Slovenia ($X per ton), while the average price for exports to Italy ($X per ton) and Austria ($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 the Czech Republic (+24.9%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Rapeseed Oil Imports

Imports into Croatia

In 2022, the amount of refined rape, colza or mustard oil imported into Croatia reached X tons, flattening at the year before. Over the period under review, imports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2013 when imports increased by 81% against the previous year. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, refined rapeseed oil imports soared to $X in 2022. Overall, imports, however, continue to indicate a deep setback. The growth pace was the most rapid in 2013 when imports increased by 65% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Slovenia (X tons), Hungary (X tons) and the UK (X tons) were the main suppliers of refined rapeseed oil imports to Croatia, together comprising 81% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +199.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refined rapeseed oil suppliers to Croatia were Slovenia ($X), Hungary ($X) and the UK ($X), with a combined 82% share of total imports.

The UK, with a CAGR of +209.8%, saw 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 more modest paces of growth.

Import Prices by Country

In 2022, the average refined rapeseed oil import price amounted to $X per ton, growing by 32% against the previous year. In general, the import price showed a prominent increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 66% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

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 the UK ($X per ton), while the price for Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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