Europe: Crude Rapeseed Oil Market 2024

Crude Rapeseed Oil Market Size in Europe

The Europe crude rapeseed oil market expanded notably to $X in 2022, increasing by 14% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Crude Rapeseed Oil Production in Europe

In value terms, crude rapeseed oil production soared to $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.9% 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 +94.2% against 2016 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Crude Rapeseed Oil Exports

Exports in Europe

In 2022, after four years of growth, there was significant decline in overseas shipments of crude rape, colza or mustard oil, when their volume decreased by -9.1% to X tons. The total export volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when exports increased by 38%. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, crude rapeseed oil exports rose slightly to $X in 2022. Overall, exports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 77%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

In 2022, Russia (X tons), France (X tons), Germany (X tons) and Belarus (X tons) was the key exporter of crude rape, colza or mustard oil in Europe, committing 67% of total export. It was distantly followed by the Netherlands (X tons), making up a 7.8% share of total exports. The following exporters - Belgium (X tons), Denmark (X tons), Poland (X tons), the Czech Republic (X tons), Ukraine (X tons), Latvia (X tons) and Hungary (X tons) - together made up 18% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading 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 ($X), Russia ($X) and Germany ($X) were the countries with the highest levels of exports in 2022, together comprising 54% of total exports. Belarus, the Netherlands, Belgium, Denmark, the Czech Republic, Poland, Hungary, Ukraine and Latvia lagged somewhat behind, together accounting for a further 39%.

Among the main exporting countries, Latvia, with a CAGR of +33.2%, 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 Europe stood at $X per ton in 2022, increasing by 13% against the previous year. Export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% 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 +75.1% against 2018 indices. The pace of growth appeared the most rapid in 2021 when the export price increased by 44% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while Russia ($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 (+3.1%), while the other leaders experienced more modest paces of growth.

Crude Rapeseed Oil Imports

Imports in Europe

In 2022, overseas purchases of crude rape, colza or mustard oil increased by 2.9% to X tons, rising for the fourth consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 20%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, crude rapeseed oil imports surged to $X in 2022. In general, imports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 74%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the Netherlands (X tons), Belgium (X tons), Norway (X tons) and Germany (X tons) was the main importer of crude rape, colza or mustard oil in Europe, comprising 59% of total import. Poland (X tons) held a 7% share (based on physical terms) of total imports, which put it in second place, followed by Russia (5%). Lithuania (X tons), Latvia (X tons), Spain (X tons), Sweden (X tons), Denmark (X tons) and Austria (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Russia (with a CAGR of +50.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest crude rapeseed oil importing markets in Europe were the Netherlands ($X), Belgium ($X) and Norway ($X), together comprising 49% of total imports. Germany, Poland, Lithuania, Spain, Latvia, Russia, Denmark, Sweden and Austria lagged somewhat behind, together comprising a further 42%.

Among the main importing countries, Russia, with a CAGR of +49.2%, 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 import price in Europe stood at $X per ton in 2022, with an increase of 21% against the previous year. Import price indicated a pronounced 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 +90.4% against 2018 indices. The growth pace was the most rapid in 2021 an increase of 45%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform