Luxembourg: Rapeseed Oil Market 2024

Rapeseed Oil Market Size in Luxembourg

The Luxembourg rapeseed oil market rose rapidly to $X in 2022, surging by 8.4% against the previous year. Overall, consumption, however, continues to indicate a abrupt setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Rapeseed Oil Production in Luxembourg

In value terms, rapeseed oil production fell notably to $X in 2022 estimated in export price. Overall, production saw a deep downturn. The pace of growth was the most pronounced in 2016 when the production volume increased by 279% against the previous year. Rapeseed oil production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Rapeseed Oil Exports

Exports from Luxembourg

In 2022, approx. X tons of rapeseed oil were exported from Luxembourg; increasing by 65% against the previous year's figure. In general, exports recorded significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 3,340%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, rapeseed oil exports soared to $X in 2022. Overall, exports showed a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 1,311% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

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

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +236.4%), while shipments for the other leaders experienced more modest paces of growth.

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

Among the main countries of destination, Germany, with a CAGR of +218.9%, recorded 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

The average rapeseed oil export price stood at $X per ton in 2022, surging by 115% against the previous year. Overall, the export price continues to indicate pronounced growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to France ($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 France (+8.6%), while the prices for the other major destinations experienced a decline.

Rapeseed Oil Imports

Imports into Luxembourg

In 2022, supplies from abroad of rapeseed oil was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 112% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, rapeseed oil imports skyrocketed to $X in 2022. Overall, imports posted noticeable growth. The pace of growth appeared the most rapid in 2019 when imports increased by 126%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of rapeseed oil to Luxembourg, with a 62% share of total imports. Moreover, rapeseed oil imports from France exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Belgium (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France stood at +23.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-12.1% per year) and Belgium (-1.3% per year).

In value terms, Germany ($X), France ($X) and Belgium ($X) constituted the largest rapeseed oil suppliers to Luxembourg, with a combined 98% share of total imports.

In terms of the main suppliers, France, with a CAGR of +20.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average rapeseed oil import price amounted to $X per ton, jumping by 30% against the previous year. In general, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.3% 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 +29.9% against 2017 indices. The pace of growth appeared the most rapid in 2016 an increase of 62% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: 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 (+11.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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