Spain: Vegetable Oils Market 2024

Vegetable Oils Market Size in Spain

In 2022, the Spanish vegetable oils market increased by X% to $X, rising for the fourth year in a row after two years of decline. Over the period under review, consumption recorded buoyant growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Vegetable Oils Production in Spain

In value terms, vegetable oils production soared to $X in 2022 estimated in export price. Overall, production saw a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, production attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Vegetable Oils Exports

Exports from Spain

In 2022, shipments abroad of vegetable fats and oils increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, exports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, vegetable oils exports skyrocketed to $X in 2022. Over the period under review, exports recorded a strong increase. The pace of growth was the most pronounced in 2021 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

France (X tons), Portugal (X tons) and Italy (X tons) were the main destinations of vegetable oils exports from Spain, together comprising X% of total exports. Algeria, Germany, the Netherlands, the UK, Saudi Arabia and Ireland lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Portugal ($X) and Italy ($X) appeared to be the largest markets for vegetable oils exported from Spain worldwide, together accounting for X% of total exports. Germany, Algeria, the UK, the Netherlands, Saudi Arabia and Ireland lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Algeria, with a CAGR of X%, saw 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 average vegetable oils export price amounted to $X per ton, rising by X% against the previous year. Overall, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable oils export price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the Netherlands ($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 Portugal (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Oils Imports

Imports into Spain

In 2022, purchases abroad of vegetable fats and oils increased by X% to X tons, rising for the fourth year in a row after three years of decline. Overall, imports, however, continue to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2019 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, vegetable oils imports soared to $X in 2022. In general, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Belgium (X tons) were the main suppliers of vegetable oils imports to Spain, with a combined X% share of total imports. Portugal, Indonesia, India, France, Italy and Malaysia lagged somewhat behind, together comprising a further X%.

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

In value terms, Germany ($X), the Netherlands ($X) and Portugal ($X) were the largest vegetable oils suppliers to Spain, together accounting for X% of total imports. Belgium, France, India, Indonesia, Italy and Malaysia lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Italy, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vegetable oils import price stood at $X per ton in 2022, jumping by X% against the previous year. Overall, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable oils import price increased by X% against 2019 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 France ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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