United Arab Emirates: Crude Rapeseed Oil Market 2024

Crude Rapeseed Oil Market Size in the United Arab Emirates

The crude rapeseed oil market in the United Arab Emirates skyrocketed to $X in 2022, increasing by 72% against the previous year. In general, consumption saw a remarkable increase. Crude rapeseed oil consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Crude Rapeseed Oil Production in the United Arab Emirates

In value terms, crude rapeseed oil production totaled $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 48% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Crude Rapeseed Oil Exports

Exports from the United Arab Emirates

In 2022, shipments abroad of crude rape, colza or mustard oil decreased by -18.7% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, total exports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.7% against 2018 indices. The pace of growth was the most pronounced in 2014 with an increase of 29% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then contracted sharply in the following year.

In value terms, crude rapeseed oil exports shrank to $X in 2022. Overall, exports, however, continue to indicate a measured expansion. The most prominent rate of growth was recorded in 2021 with an increase of 65% against the previous year. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

China (X tons) was the main destination for crude rapeseed oil exports from the United Arab Emirates, accounting for a 51% share of total exports. Moreover, crude rapeseed oil exports to China exceeded the volume sent to the second major destination, the Netherlands (X tons), fivefold. The third position in this ranking was held by Spain (X tons), with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+333.1% per year) and Spain (0.0% per year).

In value terms, China ($X) remains the key foreign market for crude rape, colza or mustard oil exports from the United Arab Emirates, comprising 61% of total exports. The second position in the ranking was taken by Spain ($X), with a 6.6% share of total exports. It was followed by France, with a 3.5% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (0.0% per year) and France (-13.5% per year).

Export Prices by Country

In 2022, the average crude rapeseed oil export price amounted to $X per ton, rising by 15% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 31% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to the Netherlands ($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 India (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Rapeseed Oil Imports

Imports into the United Arab Emirates

In 2022, supplies from abroad of crude rape, colza or mustard oil increased by 120% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports saw a pronounced increase. The growth pace was the most rapid in 2021 when imports increased by 429%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, crude rapeseed oil imports soared to $X in 2022. In general, imports recorded a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, India (X tons) constituted the largest crude rapeseed oil supplier to the United Arab Emirates, accounting for a 80% share of total imports. Moreover, crude rapeseed oil imports from India exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), sevenfold.

From 2012 to 2022, the average annual growth rate of volume from India totaled +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+141.2% per year) and South Africa (0.0% per year).

In value terms, India ($X) constituted the largest supplier of crude rape, colza or mustard oil to the United Arab Emirates, comprising 86% of total imports. The second position in the ranking was held by Ukraine ($X), with a 7.8% share of total imports.

From 2012 to 2022, the average annual growth rate of value from India totaled +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+111.4% per year) and South Africa (0.0% per year).

Import Prices by Country

The average crude rapeseed oil import price stood at $X per ton in 2022, growing by 145% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2022: its price 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. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+26.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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