Japan: Rapeseed Oil Market 2024

Rapeseed Oil Market Size in Japan

The Japanese rapeseed oil market declined to $X in 2022, shrinking by -2.8% against the previous year. In general, consumption showed a slight setback. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Rapeseed Oil Production in Japan

In value terms, rapeseed oil production shrank to $X in 2022 estimated in export price. In general, production saw a perceptible contraction. The most prominent rate of growth was recorded in 2014 when the production volume increased by 64%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Rapeseed Oil Exports

Exports from Japan

For the fifth year in a row, Japan recorded growth in shipments abroad of rapeseed oil, which increased by 101% to X tons in 2022. In general, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, rapeseed oil exports skyrocketed to $X in 2022. Over the period under review, exports showed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia (X tons) was the main destination for rapeseed oil exports from Japan, accounting for a 51% share of total exports. Moreover, rapeseed oil exports to Malaysia exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia amounted to +95.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+55.2% per year) and Vietnam (+96.4% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for rapeseed oil exports from Japan, comprising 40% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 20% share of total exports. It was followed by Vietnam, with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia totaled +77.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+45.5% per year) and Vietnam (+83.0% per year).

Export Prices by Country

The average rapeseed oil export price stood at $X per ton in 2022, standing approx. at the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 61%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Malaysia ($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 South Korea (+6.3%), while the prices for the other major destinations experienced a decline.

Rapeseed Oil Imports

Imports into Japan

In 2022, supplies from abroad of rapeseed oil increased by 64% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports recorded slight growth. The growth pace was the most rapid in 2019 with an increase of 99.9%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, rapeseed oil imports surged to $X in 2022. Over the period under review, imports posted notable growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Canada (X tons) constituted the largest rapeseed oil supplier to Japan, with a 67% share of total imports. Moreover, rapeseed oil imports from Canada exceeded the figures recorded by the second-largest supplier, Australia (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Canada amounted to +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-3.9% per year) and Germany (+11.8% per year).

In value terms, Canada ($X) constituted the largest supplier of rapeseed oil to Japan, comprising 67% of total imports. The second position in the ranking was taken by Australia ($X), with an 18% share of total imports. It was followed by Germany, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Canada totaled +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-2.6% per year) and Germany (+9.0% per year).

Import Prices by Country

The average rapeseed oil import price stood at $X per ton in 2022, picking up by 14% against the previous year. Overall, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.4% 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 +92.8% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 61%. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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