Israel: Rapeseed Oil Market 2024

Rapeseed Oil Market Size in Israel

In 2022, the Israeli rapeseed oil market increased by 28% to $X, rising for the third year in a row after two years of decline. Overall, consumption, however, recorded a remarkable increase. Rapeseed oil consumption peaked in 2022 and is likely to see steady growth in years to come.

Rapeseed Oil Production in Israel

In value terms, rapeseed oil production rose notably to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible decline. The growth pace was the most rapid in 2020 with an increase of 35% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Rapeseed Oil Exports

Exports from Israel

For the third consecutive year, Israel recorded growth in shipments abroad of rapeseed oil, which increased by 84% to X tons in 2022. Overall, exports posted a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 639% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, rapeseed oil exports soared to $X in 2022. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 598% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

The UK (X tons), Cameroon (X tons) and Spain (X tons) were the main destinations of rapeseed oil exports from Israel, together accounting for 90% of total exports. Mexico and Belgium lagged somewhat behind, together comprising a further 7.1%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +44.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Cameroon ($X) and Spain ($X) were the largest markets for rapeseed oil exported from Israel worldwide, together comprising 90% of total exports. Mexico and Belgium lagged somewhat behind, together comprising a further 6.9%.

In terms of the main countries of destination, Mexico, with a CAGR of +60.4%, saw the highest growth rate of 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 rapeseed oil export price amounted to $X per ton, surging by 23% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 47%. The export price peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Spain ($X per ton) and Cameroon ($X per ton), while the average price for exports to Belgium ($X per ton) and Mexico ($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 Mexico (+11.1%), while the prices for the other major destinations experienced mixed trend patterns.

Rapeseed Oil Imports

Imports into Israel

In 2022, after three years of growth, there was decline in purchases abroad of rapeseed oil, when their volume decreased by -1.1% to X tons. Overall, imports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of 48% against the previous year. As a result, imports reached the peak of X tons, and then declined slightly in the following year.

In value terms, rapeseed oil imports surged to $X in 2022. In general, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 88%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Estonia (X tons) and Belarus (X tons) were the main suppliers of rapeseed oil imports to Israel, with a combined 71% share of total imports. Poland, Spain, Russia, the Netherlands and Belgium lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +60.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rapeseed oil suppliers to Israel were Germany ($X), Estonia ($X) and Belarus ($X), together accounting for 71% of total imports. Poland, Spain, Russia, the Netherlands and Belgium lagged somewhat behind, together comprising a further 17%.

Among the main suppliers, Poland, with a CAGR of +73.6%, saw the highest rates of growth with regard to 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

In 2022, the average rapeseed oil import price amounted to $X per ton, increasing by 35% against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.9% 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 +85.2% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Belgium ($X per ton) and Russia ($X per ton), while the price for Belarus ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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