Czech Republic: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in the Czech Republic

In 2022, the Czech refined rapeseed oil market was finally on the rise to reach $X after four years of decline. Over the period under review, the total consumption indicated a moderate increase from 2012 to 2022: its value 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. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Refined Rapeseed Oil Production in the Czech Republic

In value terms, refined rapeseed oil production fell to $X in 2022 estimated in export price. Overall, production, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 104% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Refined Rapeseed Oil Exports

Exports from the Czech Republic

After four years of growth, shipments abroad of refined rape, colza or mustard oil decreased by -13.9% to X tons in 2022. Over the period under review, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2018 with an increase of 28%. The exports peaked at X tons in 2021, and then declined in the following year.

In value terms, refined rapeseed oil exports surged to $X in 2022. In general, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 40%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Germany (X tons), Poland (X tons) and Austria (X tons) were the main destinations of refined rapeseed oil exports from the Czech Republic, with a combined 83% share of total exports. Slovakia, Hungary and the Netherlands lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +131.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for refined rapeseed oil exported from the Czech Republic were Germany ($X), Poland ($X) and Austria ($X), together accounting for 82% of total exports. Slovakia, Hungary and the Netherlands lagged somewhat behind, together accounting for a further 16%.

In terms of the main countries of destination, Hungary, with a CAGR of +139.5%, recorded the highest growth rate of 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 average refined rapeseed oil export price amounted to $X per ton, jumping by 39% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined rapeseed oil export price increased by +99.4% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Netherlands ($X per ton) and Slovakia ($X per ton), while the average price for exports to Hungary ($X per ton) and Poland ($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 Germany (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Rapeseed Oil Imports

Imports into the Czech Republic

In 2022, purchases abroad of refined rape, colza or mustard oil increased by 68% to X tons, rising for the third consecutive year after four years of decline. In general, imports posted pronounced growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, refined rapeseed oil imports surged to $X in 2022. Overall, imports saw a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Austria (X tons), Belgium (X tons) and Hungary (X tons) were the main suppliers of refined rapeseed oil imports to the Czech Republic, together comprising 69% of total imports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +20.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X) constituted the largest supplier of refined rape, colza or mustard oil to the Czech Republic, comprising 34% of total imports. The second position in the ranking was held by Hungary ($X), with a 17% share of total imports. It was followed by Poland, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Austria stood at +19.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+21.4% per year) and Poland (+9.8% per year).

Import Prices by Country

In 2022, the average refined rapeseed oil import price amounted to $X per ton, growing by 18% against the previous year. Over the period under review, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined rapeseed oil import price increased by +80.9% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 42%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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