Denmark: Rapeseed Oil Market 2024

Rapeseed Oil Market Size in Denmark

The Danish rapeseed oil market surged to $X in 2022, jumping by 26% against the previous year. In general, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +87.8% against 2017 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Rapeseed Oil Production in Denmark

In value terms, rapeseed oil production surged to $X in 2022 estimated in export price. Over the period under review, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Rapeseed Oil Exports

Exports from Denmark

In 2022, the amount of rapeseed oil exported from Denmark was estimated at X tons, standing approx. at the previous year. Overall, total exports indicated a prominent increase from 2012 to 2022: its volume 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, exports decreased by -4.0% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 31% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, rapeseed oil exports surged to $X in 2022. Over the period under review, exports showed a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Sweden (X tons) was the main destination for rapeseed oil exports from Denmark, accounting for a 58% share of total exports. Moreover, rapeseed oil exports to Sweden exceeded the volume sent to the second major destination, Norway (X tons), twofold. The third position in this ranking was taken by Finland (X tons), with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden amounted to +3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+7.5% per year) and Finland (+16.9% per year).

In value terms, the largest markets for rapeseed oil exported from Denmark were Sweden ($X), Norway ($X) and Finland ($X), together comprising 92% of total exports. Poland, Faroe Islands, Iceland and Germany lagged somewhat behind, together comprising a further 7.5%.

Poland, with a CAGR of +78.3%, recorded the highest rates of growth with regard to 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, rising by 28% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% 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 +84.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 35% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Finland ($X per ton) and Poland ($X per ton), while the average price for exports to Sweden ($X per ton) and Germany ($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 Finland (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Rapeseed Oil Imports

Imports into Denmark

In 2022, the amount of rapeseed oil imported into Denmark expanded sharply to X tons, increasing by 13% on the previous year. Over the period under review, imports saw a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of 53% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

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

Imports by Country

Germany (X tons), Latvia (X tons) and Luxembourg (X tons) were the main suppliers of rapeseed oil imports to Denmark, with a combined 83% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Luxembourg (with a CAGR of +383.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Latvia ($X) and Luxembourg ($X) were the largest rapeseed oil suppliers to Denmark, with a combined 83% share of total imports.

Among the main suppliers, Luxembourg, with a CAGR of +392.7%, saw the highest growth rate of the value of imports, 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, jumping by 24% against the previous year. Overall, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.7% 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 +78.0% against 2018 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 36%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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