Germany: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in Germany

The German refined rapeseed oil market was finally on the rise to reach $X in 2022, after four years of decline. Over the period under review, consumption, however, recorded a deep slump. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Refined Rapeseed Oil Production in Germany

In value terms, refined rapeseed oil production shrank to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible descent. The most prominent rate of growth was recorded in 2021 when the production volume increased by 19%. Refined rapeseed oil production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Refined Rapeseed Oil Exports

Exports from Germany

In 2022, after four years of growth, there was significant decline in overseas shipments of refined rape, colza or mustard oil, when their volume decreased by -21.4% to X tons. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +29.3% against 2016 indices. The pace of growth appeared the most rapid in 2020 with an increase of 36% against the previous year. The exports peaked at X tons in 2021, and then reduced markedly in the following year.

In value terms, refined rapeseed oil exports reached $X in 2022. Over the period under review, exports, however, posted a strong increase. The pace of growth appeared the most rapid in 2021 when exports increased by 73% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

The Netherlands (X tons) was the main destination for refined rapeseed oil exports from Germany, with a 45% share of total exports. Moreover, refined rapeseed oil exports to the Netherlands exceeded the volume sent to the second major destination, Belgium (X tons), fourfold. France (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands stood at +12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+2.7% per year) and France (+9.3% per year).

In value terms, the Netherlands ($X) remains the key foreign market for refined rape, colza or mustard oil exports from Germany, comprising 49% of total exports. The second position in the ranking was held by France ($X), with a 9.8% share of total exports. It was followed by Belgium, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands totaled +16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+11.0% per year) and Belgium (+4.6% per year).

Export Prices by Country

In 2022, the average refined rapeseed oil export price amounted to $X per ton, picking up by 35% against the previous year. Overall, export price indicated noticeable 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, refined rapeseed oil export price increased by +94.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 35%. The export price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the Netherlands ($X per ton) and Italy ($X per ton), while the average price for exports to Belgium ($X per ton) and Denmark ($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 the Netherlands (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Rapeseed Oil Imports

Imports into Germany

After three years of growth, overseas purchases of refined rape, colza or mustard oil decreased by -24.9% to X tons in 2022. Overall, imports, however, showed a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of 58%. Imports peaked at X tons in 2021, and then plummeted in the following year.

In value terms, refined rapeseed oil imports shrank slightly to $X in 2022. Over the period under review, imports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 51% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

The Czech Republic (X tons), Belgium (X tons) and Austria (X tons) were the main suppliers of refined rapeseed oil imports to Germany, together accounting for 65% of total imports. The Netherlands, Poland, Portugal, Denmark and the UK lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +226.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Belgium ($X) and the Czech Republic ($X) appeared to be the largest refined rapeseed oil suppliers to Germany, with a combined 68% share of total imports. The Netherlands, Poland, Denmark, Portugal and the UK lagged somewhat behind, together accounting for a further 22%.

Portugal, with a CAGR of +213.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average refined rapeseed oil import price stood at $X per ton in 2022, growing by 30% against the previous year. Overall, import price indicated a notable 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, refined rapeseed oil import price increased by +72.4% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Portugal ($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 (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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