Czech Republic: Rapeseed Oil Market 2024

Rapeseed Oil Market Size in the Czech Republic

In 2022, the Czech rapeseed oil market increased by 34% to $X, rising for the second year in a row after three years of decline. Overall, consumption saw a strong expansion. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in years to come.

Rapeseed Oil Production in the Czech Republic

In value terms, rapeseed oil production surged to $X in 2022 estimated in export price. Overall, production, however, showed a strong expansion. The growth pace was the most rapid in 2017 with an increase of 100% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Rapeseed Oil Exports

Exports from the Czech Republic

In 2022, approx. X tons of rapeseed oil were exported from the Czech Republic; declining by -13.4% against the previous year. In general, exports continue to indicate a pronounced downturn. The growth pace was the most rapid in 2015 with an increase of 29% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, rapeseed oil exports skyrocketed to $X in 2022. Overall, exports saw a mild descent. The growth pace was the most rapid in 2021 with an increase of 19%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons), Austria (X tons) and Poland (X tons) were the main destinations of rapeseed oil exports from the Czech Republic, together comprising 77% of total exports. Slovakia, Hungary and the Netherlands lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +12.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for rapeseed oil exported from the Czech Republic were Germany ($X), Austria ($X) and Poland ($X), with a combined 78% share of total exports.

Germany, with a CAGR of +15.5%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average rapeseed oil export price stood at $X per ton in 2022, surging by 33% against the previous year. In general, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rapeseed oil export price increased by +95.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 38% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Slovakia ($X per ton) and Austria ($X per ton), while the average price for exports to the Netherlands ($X per ton) and Hungary ($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 Austria (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Rapeseed Oil Imports

Imports into the Czech Republic

In 2022, supplies from abroad of rapeseed oil increased by 60% to X tons, rising for the second year in a row after four years of decline. Overall, imports continue to indicate a perceptible expansion. The most prominent rate of growth was recorded in 2013 with an increase of 128% against the previous year. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, rapeseed oil imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate noticeable growth. The most prominent rate of growth was recorded in 2013 when imports increased by 92% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Hungary (X tons), Austria (X tons) and Poland (X tons) were the main suppliers of rapeseed oil imports to the Czech Republic, together comprising 52% of total imports. Germany, Belgium, the Netherlands, Estonia, Australia, Slovakia and Bulgaria lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the biggest increases were recorded for Estonia (with a CAGR of +52.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Austria ($X) and Poland ($X) constituted the largest rapeseed oil suppliers to the Czech Republic, with a combined 51% share of total imports. Germany, Belgium, the Netherlands, Estonia, Australia, Slovakia and Bulgaria lagged somewhat behind, together comprising a further 45%.

Estonia, with a CAGR of +65.2%, recorded 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

The average rapeseed oil import price stood at $X per ton in 2022, surging by 18% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rapeseed oil import price increased by +77.2% against 2017 indices. The pace of growth appeared the most rapid in 2021 an increase of 42% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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