Pakistan: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in Pakistan

The Pakistani refined rapeseed oil market shrank modestly to $X in 2022, waning by -2.2% against the previous year. In general, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.5% against 2020 indices. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Refined Rapeseed Oil Production in Pakistan

In value terms, refined rapeseed oil production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a notable increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 143% 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.

Refined Rapeseed Oil Exports

Exports from Pakistan

After two years of growth, overseas shipments of refined rape, colza or mustard oil decreased by -84.5% to X tons in 2022. In general, exports, however, showed significant growth. The growth pace was the most rapid in 2021 when exports increased by 588% against the previous year. As a result, the exports attained the peak of X tons, and then shrank markedly in the following year.

In value terms, refined rapeseed oil exports dropped sharply to $X in 2022. Overall, exports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of 516% against the previous year. As a result, the exports reached the peak of $X, and then dropped rapidly in the following year.

Exports by Country

Afghanistan (X tons), the UK (X tons) and Sri Lanka (X tons) were the main destinations of refined rapeseed oil exports from Pakistan, with a combined 74% share of total exports. The United States, Taiwan (Chinese), South Korea, Saudi Arabia, Greece, Sweden and the United Arab Emirates lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +77.0%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) emerged as the key foreign market for refined rape, colza or mustard oil exports from Pakistan, comprising 36% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a 15% share of total exports. It was followed by Afghanistan, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the UK totaled +27.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+23.2% per year) and Afghanistan (+21.8% per year).

Export Prices by Country

The average refined rapeseed oil export price stood at $X per ton in 2022, reducing by -3.3% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 46% against the previous year. 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.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Afghanistan ($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 Saudi Arabia (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Rapeseed Oil Imports

Imports into Pakistan

In 2022, approx. X tons of refined rape, colza or mustard oil were imported into Pakistan; increasing by 462% compared with the previous year. Over the period under review, imports showed a significant increase. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, refined rapeseed oil imports skyrocketed to $X in 2022. Overall, imports continue to indicate a strong expansion. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Canada (X tons), Singapore (X tons) and the United Arab Emirates (X tons) were the main suppliers of refined rapeseed oil imports to Pakistan, together accounting for 89% of total imports. Spain and Malaysia lagged somewhat behind, together comprising a further 9.4%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +74.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined rapeseed oil suppliers to Pakistan were Canada ($X), the United Arab Emirates ($X) and Singapore ($X), with a combined 82% share of total imports. Spain and Malaysia lagged somewhat behind, together comprising a further 15%.

Spain, with a CAGR of +76.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refined rapeseed oil import price amounted to $X per ton, with a decrease of -29.6% against the previous year. Over the period under review, the import price showed a noticeable reduction. The pace of growth was the most pronounced in 2021 when the average import price increased by 49%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+1.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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