Morocco: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in Morocco

The Moroccan refined rapeseed oil market expanded significantly to $X in 2022, with an increase of 5.9% against the previous year. Over the period under review, consumption, however, recorded a noticeable decrease. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Refined Rapeseed Oil Production in Morocco

In value terms, refined rapeseed oil production rose significantly to $X in 2022 estimated in export price. Overall, production, however, showed a perceptible contraction. The pace of growth was the most pronounced in 2020 with an increase of 28% against the previous year. Refined rapeseed oil production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Refined Rapeseed Oil Exports

Exports from Morocco

In 2022, overseas shipments of refined rape, colza or mustard oil decreased by -89.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 620%. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced rapidly in the following year.

In value terms, refined rapeseed oil exports contracted sharply to $X in 2022. Over the period under review, exports, however, saw a resilient increase. The pace of growth was the most pronounced in 2020 when exports increased by 296%. The exports peaked at $X in 2021, and then shrank markedly in the following year.

Exports by Country

Cote d'Ivoire (X tons) was the main destination for refined rapeseed oil exports from Morocco, accounting for a 61% share of total exports. Moreover, refined rapeseed oil exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Germany (X kg), sevenfold. The UK (X kg) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cote d'Ivoire stood at +25.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (0.0% per year) and the UK (+16.8% per year).

In value terms, the largest markets for refined rapeseed oil exported from Morocco were the UK ($X), France ($X) and Cote d'Ivoire ($X), with a combined 88% share of total exports.

France, with a CAGR of +42.7%, 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 refined rapeseed oil export price amounted to $X per ton, growing by 46% against the previous year. Overall, the export price, however, recorded a slight decline. The pace of growth appeared the most rapid in 2019 when the average export price increased by 87% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Mauritania ($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 Spain (+0.6%), while the prices for the other major destinations experienced a decline.

Refined Rapeseed Oil Imports

Imports into Morocco

In 2022, supplies from abroad of refined rape, colza or mustard oil increased by 85% to X tons, rising for the sixth consecutive year after two years of decline. Overall, imports posted a significant increase. The pace of growth was the most pronounced in 2014 when imports increased by 175% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, refined rapeseed oil imports surged to $X in 2022. In general, imports enjoyed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), Spain (X tons) and Belgium (X tons) were the main suppliers of refined rapeseed oil imports to Morocco, together accounting for 97% of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +64.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined rapeseed oil suppliers to Morocco were France ($X), Spain ($X) and Belgium ($X), with a combined 95% share of total imports.

In terms of the main suppliers, Belgium, with a CAGR of +55.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average refined rapeseed oil import price stood at $X per ton in 2022, growing by 33% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. As a result, import price reached 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 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 Portugal (+7.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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