MENA: Crude Rapeseed Oil Market 2024

Crude Rapeseed Oil Market Size in MENA

The MENA's crude rapeseed oil market expanded markedly to $X in 2022, surging by 11% against the previous year. The total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Crude Rapeseed Oil Production in MENA

In value terms, crude rapeseed oil production rose notably to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 -6.2% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 54% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Crude Rapeseed Oil Exports

Exports in MENA

After three years of growth, shipments abroad of crude rape, colza or mustard oil decreased by -18.1% to X tons in 2022. Total exports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.0% against 2018 indices. The pace of growth was the most pronounced in 2014 with an increase of 30% against the previous year. The volume of export peaked at X tons in 2021, and then reduced remarkably in the following year.

In value terms, crude rapeseed oil exports shrank to $X in 2022. Over the period under review, exports, however, continue to indicate tangible growth. The pace of growth was the most pronounced in 2021 with an increase of 62% against the previous year. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

The biggest shipments were from the United Arab Emirates (X tons), together reaching 99% of total export.

The United Arab Emirates was also the fastest-growing in terms of the crude rape, colza or mustard oil exports, with a CAGR of +3.2% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest crude rapeseed oil supplier in MENA.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled +3.2%.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, with an increase of 15% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by 30% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +0.0% per year.

Crude Rapeseed Oil Imports

Imports in MENA

In 2022, purchases abroad of crude rape, colza or mustard oil increased by 50% to X tons, rising for the second year in a row after four years of decline. Total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +124.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 50% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, crude rapeseed oil imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a moderate expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 89% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Turkey was the key importing country with an import of about X tons, which amounted to 42% of total imports. It was distantly followed by Tunisia (X tons), Algeria (X tons), Saudi Arabia (X tons), Morocco (X tons) and Iran (X tons), together creating a 49% share of total imports. Israel (X tons) held a little share of total imports.

Turkey was also the fastest-growing in terms of the crude rape, colza or mustard oil imports, with a CAGR of +76.7% from 2012 to 2022. At the same time, Saudi Arabia (+27.2%) and Israel (+12.0%) displayed positive paces of growth. Tunisia experienced a relatively flat trend pattern. By contrast, Algeria (-5.0%), Morocco (-9.1%) and Iran (-15.5%) illustrated a downward trend over the same period. While the share of Turkey (+42 p.p.), Saudi Arabia (+7.3 p.p.), Morocco (+7.2 p.p.) and Israel (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Tunisia (-6 p.p.), Algeria (-12.5 p.p.) and Iran (-39.5 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) constitutes the largest market for imported crude rape, colza or mustard oil in MENA, comprising 45% of total imports. The second position in the ranking was taken by Morocco ($X), with a 10% share of total imports. It was followed by Algeria, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +71.5%. In the other countries, the average annual rates were as follows: Morocco (-6.1% per year) and Algeria (-5.3% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, surging by 4.6% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 26% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Morocco ($X per ton), while Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+3.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform