India: Crude Rapeseed Oil Market 2024

Crude Rapeseed Oil Market Size in India

The Indian crude rapeseed oil market totaled $X in 2022, with an increase of 4.2% against the previous year. The market value increased at an average annual rate of +4.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Crude rapeseed oil consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Crude Rapeseed Oil Production in India

In value terms, crude rapeseed oil production rose notably to $X in 2022 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -8.0% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 60%. Crude rapeseed oil production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Crude Rapeseed Oil Exports

Exports from India

In 2022, overseas shipments of crude rape, colza or mustard oil increased by 480% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports saw strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, crude rapeseed oil exports surged to $X in 2022. In general, exports posted a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Canada (X tons) and the United Arab Emirates (X tons) were the main destinations of crude rapeseed oil exports from India, together comprising 57% of total exports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +36.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crude rapeseed oil exported from India were the United States ($X), Canada ($X) and the United Arab Emirates ($X), together comprising 60% of total exports.

In terms of the main countries of destination, Canada, with a CAGR of +38.9%, 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

In 2022, the average crude rapeseed oil export price amounted to $X per ton, with an increase of 4.6% against the previous year. Over the period under review, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.3% 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 +78.7% against 2019 indices. The pace of growth was the most pronounced in 2020 an increase of 46%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Rapeseed Oil Imports

Imports into India

In 2022, the amount of crude rape, colza or mustard oil imported into India reduced markedly to X tons, dropping by -96.8% compared with 2021. In general, imports showed a dramatic decline. The most prominent rate of growth was recorded in 2014 when imports increased by 560%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, crude rapeseed oil imports fell dramatically to $X in 2022. Overall, imports showed a precipitous decrease. The most prominent rate of growth was recorded in 2014 with an increase of 468% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest crude rapeseed oil supplier to India, accounting for a 83% share of total imports. Moreover, crude rapeseed oil imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Paraguay (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates was relatively modest.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of crude rape, colza or mustard oil to India, comprising 81% of total imports. The second position in the ranking was taken by Paraguay ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates totaled +6.4%.

Import Prices by Country

The average crude rapeseed oil import price stood at $X per ton in 2022, increasing by 48% against the previous year. In general, the import price enjoyed noticeable growth. The pace of growth appeared the most rapid in 2021 when the average import price increased by 56%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Paraguay ($X per ton), while the price for the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+28.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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