EU: Rapeseed Oil Market 2024

Rapeseed Oil Market Size in the EU

In 2022, the EU rapeseed oil market increased by 29% to $X, rising for the sixth consecutive year after two years of decline. The total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +89.2% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Rapeseed Oil Production in the EU

In value terms, rapeseed oil production soared to $X in 2022 estimated in export price. The total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +93.4% against 2019 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Rapeseed Oil Exports

Exports in the EU

After three years of growth, overseas shipments of rapeseed oil decreased by -10.6% to X tons in 2022. The total export volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when exports increased by 32%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, rapeseed oil exports soared to $X in 2022. Overall, exports, however, recorded a temperate expansion. The growth pace was the most rapid in 2021 when exports increased by 62%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

In 2022, Germany (X tons), distantly followed by France (X tons), the Netherlands (X tons), Belgium (X tons), the Czech Republic (X tons) and Denmark (X tons) represented the major exporters of rapeseed oil, together achieving 80% of total exports. Poland (X tons) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +6.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and the Netherlands ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 59% of total exports.

Among the main exporting countries, France, with a CAGR of +9.7%, saw 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 export price in the European Union stood at $X per ton in 2022, rising by 29% against the previous year. Export price indicated temperate growth from 2012 to 2022: its price 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, rapeseed oil export price increased by +83.8% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 34% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.0%), while the other leaders experienced more modest paces of growth.

Rapeseed Oil Imports

Imports in the EU

In 2022, after four years of growth, there was decline in purchases abroad of rapeseed oil, when their volume decreased by -0.5% to X tons. The total import volume increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year. As a result, imports reached the peak of X tons, leveling off in the following year.

In value terms, rapeseed oil imports soared to $X in 2022. Overall, imports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by 62%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

The purchases of the four major importers of rapeseed oil, namely the Netherlands, Belgium, Germany and Poland, represented more than half of total import. It was distantly followed by France (X tons), Sweden (X tons) and Lithuania (X tons), together constituting a 15% share of total imports. The following importers - Spain (X tons), Austria (X tons), Latvia (X tons), Denmark (X tons) and the Czech Republic (X tons) - together made up 17% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Spain (with a CAGR of +16.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest rapeseed oil importing markets in the European Union were the Netherlands ($X), Belgium ($X) and Germany ($X), with a combined 52% share of total imports. Poland, France, Sweden, Spain, Lithuania, Austria, Latvia, Denmark and the Czech Republic lagged somewhat behind, together comprising a further 40%.

Spain, with a CAGR of +21.0%, recorded the highest growth rate of the value of imports, among 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

The import price in the European Union stood at $X per ton in 2022, picking up by 23% against the previous year. Import price indicated a measured increase 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, rapeseed oil import price increased by +82.8% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 38% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Poland ($X per ton) and Spain ($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 (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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