Southern Asia: Crude Rapeseed Oil Market 2024

Crude Rapeseed Oil Market Size in Southern Asia

The South Asian crude rapeseed oil market was estimated at $X in 2022, picking up by 4.1% against the previous year. The market value increased at an average annual rate of +3.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Crude Rapeseed Oil Production in Southern Asia

In value terms, crude rapeseed oil production expanded sharply to $X in 2022 estimated in export price. The total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.8% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 47% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Crude Rapeseed Oil Exports

Exports in Southern Asia

Crude rapeseed oil exports soared to X tons in 2022, picking up by 77% on the previous year. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 240% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in years to come.

In value terms, crude rapeseed oil exports soared to $X in 2022. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 151% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

India (X tons), Pakistan (X tons) and Bangladesh (X tons) represented roughly 100% of total exports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Pakistan (with a CAGR of +156.0%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), Pakistan ($X) and Bangladesh ($X) constituted the countries with the highest levels of exports in 2022, with a combined 100% share of total exports.

In terms of the main exporting countries, Pakistan, with a CAGR of +156.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, growing by 17% against the previous year. Export price indicated a pronounced expansion from 2012 to 2022: its price 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, crude rapeseed oil export price increased by +79.1% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 33% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.3%), while the other leaders experienced more modest paces of growth.

Crude Rapeseed Oil Imports

Imports in Southern Asia

In 2022, approx. X tons of crude rape, colza or mustard oil were imported in Southern Asia; waning by -95.1% against the year before. In general, imports showed a sharp shrinkage. The most prominent rate of growth was recorded in 2014 when imports increased by 536% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, crude rapeseed oil imports fell sharply to $X in 2022. Overall, imports saw a sharp slump. The pace of growth appeared the most rapid in 2014 when imports increased by 443%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

India represented the main importer of crude rape, colza or mustard oil in Southern Asia, with the volume of imports recording X tons, which was near 64% of total imports in 2022. Afghanistan (X tons) ranks second in terms of the total imports with an 18% share, followed by Bhutan (7.9%) and Nepal (5.1%). Bangladesh (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to crude rapeseed oil imports into India stood at -33.3%. At the same time, Bangladesh (+14.7%) and Nepal (+4.1%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +14.7% from 2012-2022. By contrast, Afghanistan (-7.6%) and Bhutan (-11.3%) illustrated a downward trend over the same period. Afghanistan (+17 p.p.), Bhutan (+7.2 p.p.), Nepal (+5 p.p.) and Bangladesh (+4.2 p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by -34.1% from 2012 to 2022, respectively.

In value terms, India ($X) constitutes the largest market for imported crude rape, colza or mustard oil in Southern Asia, comprising 74% of total imports. The second position in the ranking was held by Afghanistan ($X), with an 11% share of total imports. It was followed by Bhutan, with a 10% share.

In India, crude rapeseed oil imports contracted by an average annual rate of -30.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Afghanistan (-9.8% per year) and Bhutan (-7.8% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, growing by 28% against the previous year. Overall, the import price showed a noticeable increase. The most prominent rate of growth was recorded in 2021 when the import price increased by 56% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bhutan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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