EU: Crude Rapeseed Oil Market 2024

Crude Rapeseed Oil Market Size in the EU

For the fourth consecutive year, the EU crude rapeseed oil market recorded growth in sales value, which increased by 15% to $X in 2022. The market value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Crude Rapeseed Oil Production in the EU

In value terms, crude rapeseed oil production surged to $X in 2022 estimated in export price. The total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +95.1% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by 34% against the previous year. The level of production peaked in 2022 and is expected to retain growth in the near future.

Crude Rapeseed Oil Exports

Exports in the EU

In 2022, overseas shipments of crude rape, colza or mustard oil decreased by -5% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 35% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, crude rapeseed oil exports skyrocketed to $X in 2022. In general, exports, however, recorded measured growth. The pace of growth was the most pronounced in 2021 when exports increased by 78%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

In 2022, France (X tons) and Germany (X tons) represented the major exporters of crude rape, colza or mustard oil in the European Union, together finishing at approx. 52% of total exports. The Netherlands (X tons) ranks next in terms of the total exports with a 13% share, followed by Belgium (6.4%), Denmark (4.8%), Poland (4.6%) and the Czech Republic (4.6%). Latvia (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Latvia (with a CAGR of +29.4%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and the Netherlands ($X) constituted the countries with the highest levels of exports in 2022, together comprising 65% of total exports. Belgium, Denmark, the Czech Republic, Poland and Latvia lagged somewhat behind, together comprising a further 23%.

Latvia, with a CAGR of +33.2%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, rising by 25% against the previous year. Export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.7% 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 +87.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 42% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in France ($X per ton) and Belgium ($X per ton), while Latvia ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.1%), while the other leaders experienced more modest paces of growth.

Crude Rapeseed Oil Imports

Imports in the EU

In 2022, overseas purchases of crude rape, colza or mustard oil increased by 8.2% to X tons, rising for the fifth year in a row after three years of decline. The total import volume increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 22% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, crude rapeseed oil imports soared to $X in 2022. In general, imports saw buoyant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 77% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

The purchases of the three major importers of crude rape, colza or mustard oil, namely the Netherlands, Belgium and Germany, represented more than half of total import. Poland (X tons) took an 8.9% share (based on physical terms) of total imports, which put it in second place, followed by Lithuania (5.7%) and Latvia (4.8%). The following importers - Spain (X tons), Sweden (X tons), Denmark (X tons), Austria (X tons), Hungary (X tons) and France (X tons) - together made up 19% of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +12.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Belgium ($X) and Germany ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 56% of total imports. Poland, Lithuania, Spain, Latvia, Denmark, Sweden, Austria, Hungary and France lagged somewhat behind, together comprising a further 38%.

Spain, with a CAGR of +18.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, increasing by 21% against the previous year. Import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.2% 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 import price increased by +93.2% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of 45% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Spain ($X per ton) and Hungary ($X per ton), while Latvia ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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