Pakistan: Crude Rapeseed Oil Market 2024

Crude Rapeseed Oil Market Size in Pakistan

The Pakistani crude rapeseed oil market expanded slightly to $X in 2022, picking up by 4.1% against the previous year. Over the period under review, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.8% against 2020 indices. Crude rapeseed oil consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Crude Rapeseed Oil Production in Pakistan

In value terms, crude rapeseed oil production expanded notably to $X in 2022 estimated in export price. In general, production continues to indicate temperate growth. The most prominent rate of growth was recorded in 2017 with an increase of 221% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Crude Rapeseed Oil Exports

Exports from Pakistan

In 2022, overseas shipments of crude rape, colza or mustard oil increased by 35% to X tons, rising for the sixth year in a row after two years of decline. Overall, exports posted significant growth. The pace of growth appeared the most rapid in 2018 when exports increased by 11,542% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, crude rapeseed oil exports skyrocketed to $X in 2022. In general, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 8,548% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Japan (X tons) was the main destination for crude rapeseed oil exports from Pakistan, accounting for a 87% share of total exports. Moreover, crude rapeseed oil exports to Japan exceeded the volume sent to the second major destination, Afghanistan (X tons), sevenfold.

From 2013 to 2022, the average annual growth rate of volume to Japan was relatively modest.

In value terms, Japan ($X) emerged as the key foreign market for crude rape, colza or mustard oil exports from Pakistan, comprising 95% of total exports. The second position in the ranking was taken by Afghanistan ($X), with a 2.4% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of value to Japan was relatively modest.

Export Prices by Country

In 2022, the average crude rapeseed oil export price amounted to $X per ton, picking up by 12% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Afghanistan stood at $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Afghanistan (-12.4%).

Crude Rapeseed Oil Imports

Imports into Pakistan

In 2022, after three years of decline, there was significant growth in purchases abroad of crude rape, colza or mustard oil, when their volume increased by 56% to X tons. Overall, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, crude rapeseed oil imports skyrocketed to $X in 2022. In general, imports recorded a resilient increase. The pace of growth appeared the most rapid in 2014 when imports increased by 91% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of crude rapeseed oil to Pakistan, accounting for a 71% share of total imports. Moreover, crude rapeseed oil imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Italy (X kg), fivefold.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates amounted to -3.2%.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of crude rape, colza or mustard oil to Pakistan, comprising 53% of total imports. The second position in the ranking was taken by Italy ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates stood at -7.3%.

Import Prices by Country

The average crude rapeseed oil import price stood at $X per ton in 2022, declining by -15.8% against the previous year. Over the period under review, the import price, however, continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2014 when the average import price increased by 35% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then dropped dramatically in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+14.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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