Slovenia: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in Slovenia

The Slovene refined rapeseed oil market surged to $X in 2022, growing by 36% against the previous year. In general, consumption, however, saw a noticeable decline. Refined rapeseed oil consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Refined Rapeseed Oil Production in Slovenia

In value terms, refined rapeseed oil production fell to $X in 2022 estimated in export price. Overall, production showed a abrupt slump. The pace of growth appeared the most rapid in 2017 when the production volume increased by 39% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Refined Rapeseed Oil Exports

Exports from Slovenia

Refined rapeseed oil exports from Slovenia declined significantly to X tons in 2022, dropping by -69.1% against 2021 figures. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 1,946% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, refined rapeseed oil exports declined notably to $X in 2022. Over the period under review, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 796%. The exports peaked at $X in 2021, and then declined sharply in the following year.

Exports by Country

Croatia (X tons), Serbia (X tons) and Austria (X kg) were the main destinations of refined rapeseed oil exports from Slovenia, with a combined 98% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Croatia (with a CAGR of +91.0%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for refined rapeseed oil exported from Slovenia were Croatia ($X), Serbia ($X) and Austria ($X), together accounting for 98% of total exports.

In terms of the main countries of destination, Croatia, with a CAGR of +97.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average refined rapeseed oil export price amounted to $X per ton, picking up by 44% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 44% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Austria ($X per ton) and France ($X per ton), while the average price for exports to Serbia ($X per ton) and Croatia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+81.9%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Rapeseed Oil Imports

Imports into Slovenia

In 2022, imports of refined rape, colza or mustard oil into Slovenia surged to X tons, growing by 87% compared with 2021 figures. In general, imports posted a buoyant increase. The growth pace was the most rapid in 2015 when imports increased by 185% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, refined rapeseed oil imports surged to $X in 2022. Over the period under review, imports showed buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Austria (X tons) constituted the largest supplier of refined rapeseed oil to Slovenia, accounting for a 50% share of total imports. Moreover, refined rapeseed oil imports from Austria exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by Hungary (X tons), with a 20% share.

From 2012 to 2022, the average annual growth rate of volume from Austria stood at +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+81.5% per year) and Hungary (+10.3% per year).

In value terms, Austria ($X) constituted the largest supplier of refined rape, colza or mustard oil to Slovenia, comprising 53% of total imports. The second position in the ranking was taken by Germany ($X), with an 18% share of total imports. It was followed by Hungary, with an 18% share.

From 2012 to 2022, the average annual growth rate of value from Austria totaled +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+70.2% per year) and Hungary (+13.0% per year).

Import Prices by Country

The average refined rapeseed oil import price stood at $X per ton in 2022, picking up by 37% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined rapeseed oil import price increased by +124.6% against 2015 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform