Morocco: Rapeseed Oil Market 2024

Rapeseed Oil Market Size in Morocco

The Moroccan rapeseed oil market surged to $X in 2022, picking up by 71% against the previous year. Overall, consumption showed significant growth. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Rapeseed Oil Production in Morocco

In value terms, rapeseed oil production contracted to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 102% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Rapeseed Oil Exports

Exports from Morocco

In 2022, shipments abroad of rapeseed oil decreased by -5.8% to X tons, falling for the second year in a row after two years of growth. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2019 when exports increased by 887%. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, rapeseed oil exports contracted notably to $X in 2022. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 1,158%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

France (X tons), Cote d'Ivoire (X tons) and Germany (X tons) were the main destinations of rapeseed oil exports from Morocco, together accounting for 68% of total exports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +51.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for rapeseed oil exported from Morocco were the UK ($X), France ($X) and Cote d'Ivoire ($X), with a combined 85% share of total exports.

France, with a CAGR of +41.4%, saw 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 rapeseed oil export price amounted to $X per ton, reducing by -23.1% against the previous year. Over the period under review, the export price showed a drastic downturn. The growth pace was the most rapid in 2017 when the average export price increased by 72%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Germany ($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 Norway (+102.5%), while the prices for the other major destinations experienced a decline.

Rapeseed Oil Imports

Imports into Morocco

In 2022, purchases abroad of rapeseed oil increased by 55% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports posted a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 16,754%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, rapeseed oil imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 11,237%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, France (X tons) was the main supplier of rapeseed oil to Morocco, accounting for a 96% share of total imports. Moreover, rapeseed oil imports from France exceeded the figures recorded by the second-largest supplier, Spain (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from France stood at +65.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+35.4% per year) and the Netherlands (-4.1% per year).

In value terms, France ($X) constituted the largest supplier of rapeseed oil to Morocco, comprising 94% of total imports. The second position in the ranking was held by Spain ($X), with a 5.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value from France stood at +63.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+34.4% per year) and the Netherlands (-5.3% per year).

Import Prices by Country

In 2022, the average rapeseed oil import price amounted to $X per ton, rising by 27% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 57% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Spain ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (-0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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