Puerto Rico: Refined Rapeseed Oil Market 2022

Refined Rapeseed Oil Market Size in Puerto Rico

The Puerto Rican refined rapeseed oil market was estimated at less than $X in 2021, stabilizing at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a relatively flat trend pattern.

Refined Rapeseed Oil Exports

Exports by Country

Canada was the major exporter of refined rape, colza or mustard oil in the world, with the volume of exports resulting at X tons, which was approx. 42% of total exports in 2021. Germany (X tons) ranks second in terms of the total exports with an 18% share, followed by Belgium (8.7%). The following exporters - the Netherlands (X tons), the Czech Republic (X tons), Australia (X tons), the United States (X tons), Denmark (X tons), the United Arab Emirates (X tons), Austria (X tons), the UK (X tons), Malaysia (X tons) and France (X tons) - together made up 23% of total exports.

Exports from Canada increased at an average annual rate of +5.4% from 2012 to 2021. At the same time, the United Arab Emirates (+17.7%), Austria (+14.1%), Australia (+12.9%), Germany (+8.7%), the Czech Republic (+8.6%), Malaysia (+7.2%), Belgium (+6.4%), Denmark (+5.8%) and the United States (+1.3%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the world, with a CAGR of +17.7% from 2012-2021. The UK experienced a relatively flat trend pattern. By contrast, the Netherlands (-1.4%) and France (-5.9%) illustrated a downward trend over the same period. While the share of Germany (+3.7 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of the UK (-1.6 p.p.), France (-1.8 p.p.), Canada (-2.3 p.p.) and the Netherlands (-3.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Canada ($X) remains the largest refined rapeseed oil supplier from Puerto Rico, comprising 45% of global exports. The second position in the ranking was held by Germany ($X), with a 17% share of global exports. It was followed by Belgium, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Canada amounted to +6.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+8.2% per year) and Belgium (+4.9% per year).

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, therefore, remained relatively stable against the previous year. In general, the export price showed a relatively flat trend pattern.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Malaysia ($X per ton) and France ($X per ton), while the United States ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+1.8%), while the other leaders experienced more modest paces of growth.

Refined Rapeseed Oil Imports

Imports by Country

The United States was the key importer of refined rape, colza or mustard oil in the world, with the volume of imports resulting at X tons, which was approx. 41% of total imports in 2021. It was distantly followed by the Netherlands (X tons), mixing up a 10% share of total imports. France (X tons), China (X tons), Belgium (X tons), Norway (X tons), Austria (X tons), Germany (X tons), Mexico (X tons), Sweden (X tons), Poland (X tons), Israel (X tons) and the UK (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to refined rapeseed oil imports into the United States stood at +5.1%. At the same time, Mexico (+40.5%), Norway (+21.6%), Israel (+14.0%), China (+13.8%), Germany (+10.3%), Poland (+8.6%), the Netherlands (+8.4%), France (+6.8%), Belgium (+3.7%) and Austria (+3.3%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer imported in the world, with a CAGR of +40.5% from 2012-2021. By contrast, Sweden (-1.0%) and the UK (-3.5%) illustrated a downward trend over the same period. Norway (+2.8 p.p.), Mexico (+2.6 p.p.), China (+1.9 p.p.) and the Netherlands (+1.9 p.p.) significantly strengthened its position in terms of the global imports, while Sweden, the UK and the United States saw its share reduced by -2%, -2.2% and -3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported refined rape, colza or mustard oil into Puerto Rico, comprising 44% of global imports. The second position in the ranking was taken by the Netherlands ($X), with a 10% share of global imports. It was followed by France, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value in the United States amounted to +6.6%. In the other countries, the average annual rates were as follows: the Netherlands (+7.9% per year) and France (+4.8% per year).

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per ton, therefore, remained relatively stable against the previous year. In general, the import price showed a relatively flat trend pattern.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Germany ($X per ton) and the United States ($X per ton), while Norway ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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