Hungary: Refined Rapeseed Oil Market 2025

Refined Rapeseed Oil Market Size in Hungary

The Hungarian refined rapeseed oil market dropped significantly to $X in 2022, waning by -27.6% against the previous year. Overall, consumption recorded a abrupt descent. Refined rapeseed oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Refined Rapeseed Oil Production in Hungary

In value terms, refined rapeseed oil production fell to $X in 2022 estimated in export price. Overall, production saw a abrupt curtailment. The growth pace was the most rapid in 2021 when the production volume increased by 15% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Refined Rapeseed Oil Exports

Exports from Hungary

In 2022, approx. X tons of refined rape, colza or mustard oil were exported from Hungary; declining by -2.8% compared with the previous year. Overall, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 132%. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced modestly in the following year.

In value terms, refined rapeseed oil exports skyrocketed to $X in 2022. In general, exports, however, saw a resilient increase. The growth pace was the most rapid in 2013 when exports increased by 128%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Poland (X tons), the Czech Republic (X tons) and Slovakia (X tons) were the main destinations of refined rapeseed oil exports from Hungary, with a combined 70% share of total exports. Germany, Austria, Israel, Slovenia and Greece lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +111.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for refined rapeseed oil exported from Hungary were Poland ($X), Slovakia ($X) and the Czech Republic ($X), together accounting for 70% of total exports. Germany, Austria, Israel, Slovenia and Greece lagged somewhat behind, together accounting for a further 28%.

Germany, with a CAGR of +110.5%, saw the highest growth rate of 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 refined rapeseed oil export price stood at $X per ton in 2022, picking up by 32% against the previous year. Over the period under review, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.7% 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 +83.0% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Greece ($X per ton) and Slovakia ($X per ton), while the average price for exports to the Czech Republic ($X per ton) and Austria ($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 Israel (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Rapeseed Oil Imports

Imports into Hungary

After two years of growth, supplies from abroad of refined rape, colza or mustard oil decreased by -86.2% to X tons in 2022. In general, imports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2015 with an increase of 1,840% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then dropped dramatically in the following year.

In value terms, refined rapeseed oil imports contracted significantly to $X in 2022. Overall, imports, however, posted buoyant growth. The pace of growth was the most pronounced in 2015 with an increase of 1,163%. Over the period under review, imports hit record highs at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

Romania (X tons), Germany (X tons) and Austria (X tons) were the main suppliers of refined rapeseed oil imports to Hungary, together accounting for 93% of total imports.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +171.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Romania ($X) and Austria ($X) appeared to be the largest refined rapeseed oil suppliers to Hungary, with a combined 88% share of total imports.

Romania, with a CAGR of +123.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refined rapeseed oil import price amounted to $X per ton, picking up by 13% against the previous year. In general, the import price, however, showed a mild descent. The most prominent rate of growth was recorded in 2017 when the average import price increased by 95%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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 the Czech Republic ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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