Czech Republic: Crude Rapeseed Oil Market 2024

Crude Rapeseed Oil Market Size in the Czech Republic

In 2022, the Czech crude rapeseed oil market increased by 17% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption saw prominent growth. Crude rapeseed oil consumption peaked in 2022 and is likely to see steady growth in years to come.

Crude Rapeseed Oil Production in the Czech Republic

In value terms, crude rapeseed oil production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, saw a prominent increase. The growth pace was the most rapid in 2015 with an increase of 114% against the previous year. Crude rapeseed oil production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Crude Rapeseed Oil Exports

Exports from the Czech Republic

In 2022, overseas shipments of crude rape, colza or mustard oil decreased by -12.5% to X tons, falling for the sixth year in a row after five years of growth. Overall, exports continue to indicate a deep setback. The pace of growth was the most pronounced in 2015 with an increase of 32% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, crude rapeseed oil exports expanded sharply to $X in 2022. In general, exports showed a deep contraction. The pace of growth appeared the most rapid in 2016 when exports increased by 11%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Austria (X tons), Germany (X tons) and the Netherlands (X tons) were the main destinations of crude rapeseed oil exports from the Czech Republic, together accounting for 73% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +12.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crude rapeseed oil exported from the Czech Republic were Austria ($X), Germany ($X) and the Netherlands ($X), together accounting for 75% of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of +14.2%, 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 crude rapeseed oil export price stood at $X per ton in 2022, increasing by 25% against the previous year. Overall, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +2.3% 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 +91.4% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of 44%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Austria ($X per ton) and Germany ($X per ton), while the average price for exports to Bulgaria ($X per ton) and the Netherlands ($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 Bulgaria (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Rapeseed Oil Imports

Imports into the Czech Republic

In 2022, overseas purchases of crude rape, colza or mustard oil increased by 48% to X tons, rising for the second year in a row after four years of decline. Over the period under review, imports showed a modest expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 257%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, crude rapeseed oil imports skyrocketed to $X in 2022. In general, imports posted moderate growth. The most prominent rate of growth was recorded in 2013 with an increase of 200% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Hungary (X tons), Germany (X tons) and Estonia (X tons) were the main suppliers of crude rapeseed oil imports to the Czech Republic, together accounting for 58% of total imports. The Netherlands, Poland, Australia, Lithuania and Slovakia lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +125.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Germany ($X) and Estonia ($X) were the largest crude rapeseed oil suppliers to the Czech Republic, with a combined 51% share of total imports. Poland, Australia, the Netherlands, Lithuania and Slovakia lagged somewhat behind, together accounting for a further 41%.

The Netherlands, with a CAGR of +126.2%, saw the highest rates of growth with regard to the value of imports, in terms of 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 crude rapeseed oil import price amounted to $X per ton, with an increase of 21% against the previous year. In general, the import price enjoyed a tangible expansion. The most prominent rate of growth was recorded in 2021 an increase of 43%. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue 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 Australia ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+20.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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