Romania: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in Romania

The Romanian refined rapeseed oil market expanded remarkably to $X in 2022, surging by 12% against the previous year. Overall, consumption, however, continues to indicate a noticeable contraction. Refined rapeseed oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Refined Rapeseed Oil Production in Romania

In value terms, refined rapeseed oil production expanded rapidly to $X in 2022 estimated in export price. In general, production, however, saw a pronounced downturn. The growth pace was the most rapid in 2020 with an increase of 72% against the previous year. Refined rapeseed oil production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Refined Rapeseed Oil Exports

Exports from Romania

Refined rapeseed oil exports from Romania rose significantly to X tons in 2022, with an increase of 7.1% on the previous year. Overall, exports showed a significant expansion. The growth pace was the most rapid in 2015 when exports increased by 314,165%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, refined rapeseed oil exports skyrocketed to $X in 2022. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2015 when exports increased by 163,564%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Poland (X tons) was the main destination for refined rapeseed oil exports from Romania, accounting for a 40% share of total exports. Moreover, refined rapeseed oil exports to Poland exceeded the volume sent to the second major destination, Austria (X tons), twofold. Israel (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Poland amounted to +60.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+88.5% per year) and Israel (+8.7% per year).

In value terms, Poland ($X), Israel ($X) and Austria ($X) constituted the largest markets for refined rapeseed oil exported from Romania worldwide, with a combined 70% share of total exports.

Austria, with a CAGR of +117.0%, recorded 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

The average refined rapeseed oil export price stood at $X per ton in 2022, increasing by 32% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 32%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Germany ($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 Poland (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Rapeseed Oil Imports

Imports into Romania

In 2022, the amount of refined rape, colza or mustard oil imported into Romania reduced slightly to X tons, waning by -2.2% on the year before. Over the period under review, imports, however, posted a mild increase. The most prominent rate of growth was recorded in 2014 with an increase of 75%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, refined rapeseed oil imports surged to $X in 2022. Overall, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +82.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 50% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Bulgaria (X tons), the Netherlands (X tons) and Hungary (X tons) were the main suppliers of refined rapeseed oil imports to Romania, with a combined 70% share of total imports. Sweden, Austria, the Czech Republic, Poland and Germany lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +159.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), the Netherlands ($X) and Hungary ($X) were the largest refined rapeseed oil suppliers to Romania, with a combined 68% share of total imports.

Sweden, with a CAGR of +167.0%, recorded the highest rates of growth with regard to 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

The average refined rapeseed oil import price stood at $X per ton in 2022, growing by 25% against the previous year. Over the period under review, the import price enjoyed a modest increase. The pace of growth was the most pronounced in 2020 when the average import price increased by 93%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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