Luxembourg: Crude Rapeseed Oil Market 2024

Crude Rapeseed Oil Market Size in Luxembourg

In 2022, the Luxembourg crude rapeseed oil market decreased by -16.3% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption showed a drastic downturn. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Crude Rapeseed Oil Production in Luxembourg

In value terms, crude rapeseed oil production rose remarkably to $X in 2022 estimated in export price. Overall, production, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of 214% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Crude Rapeseed Oil Exports

Exports from Luxembourg

Crude rapeseed oil exports from Luxembourg soared to X tons in 2022, picking up by 762% against 2021 figures. In general, exports showed a significant increase. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude rapeseed oil exports surged to $X in 2022. Overall, exports saw a significant expansion. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Belgium (X tons), France (X kg) and Germany (X kg) were the main destinations of crude rapeseed oil exports from Luxembourg.

From 2013 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 +423.7%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), France ($X) and Germany ($X) were the largest markets for crude rapeseed oil exported from Luxembourg worldwide.

Germany, with a CAGR of +470.4%, recorded the highest rates of growth with regard to 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

In 2022, the average crude rapeseed oil export price amounted to $X per ton, surging by 6.5% against the previous year. Over the period under review, the export price showed a prominent expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 82%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Rapeseed Oil Imports

Imports into Luxembourg

In 2022, crude rapeseed oil imports into Luxembourg fell markedly to X tons, which is down by -60.2% against 2021. Overall, imports faced a abrupt decline. The pace of growth was the most pronounced in 2019 with an increase of 263% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, crude rapeseed oil imports declined rapidly to $X in 2022. In general, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of 251%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest crude rapeseed oil supplier to Luxembourg, accounting for a 62% share of total imports. Moreover, crude rapeseed oil imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at -17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-0.1% per year) and Belgium (-18.4% per year).

In value terms, Germany ($X) constituted the largest supplier of crude rape, colza or mustard oil to Luxembourg, comprising 80% of total imports. The second position in the ranking was taken by France ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Germany totaled -10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-6.3% per year) and Belgium (-17.4% per year).

Import Prices by Country

In 2022, the average crude rapeseed oil import price amounted to $X per ton, increasing by 79% against the previous year. Overall, import price indicated resilient growth from 2012 to 2022: its price 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. As a result, import price attained 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 Germany ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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