United Arab Emirates: Rapeseed Oil Market 2024

Rapeseed Oil Market Size in the United Arab Emirates

The rapeseed oil market in the United Arab Emirates soared to $X in 2022, surging by 54% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Rapeseed Oil Production in the United Arab Emirates

In value terms, rapeseed oil production expanded sharply to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 49%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Rapeseed Oil Exports

Exports from the United Arab Emirates

In 2022, after three years of growth, there was significant decline in overseas shipments of rapeseed oil, when their volume decreased by -12.9% to X tons. In general, total exports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.9% 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 +68.2% against 2018 indices. The pace of growth was the most pronounced in 2019 with an increase of 30% against the previous year. The exports peaked at X tons in 2021, and then declined in the following year.

In value terms, rapeseed oil exports shrank sharply to $X in 2022. Overall, exports, however, recorded perceptible growth. The pace of growth was the most pronounced in 2021 when exports increased by 63% against the previous year. As a result, the exports reached the peak of $X, and then plummeted in the following year.

Exports by Country

China (X tons) was the main destination for rapeseed oil exports from the United Arab Emirates, with a 47% share of total exports. Moreover, rapeseed oil exports to China exceeded the volume sent to the second major destination, the Netherlands (X tons), tenfold. The third position in this ranking was taken by Spain (X tons), with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+291.5% per year) and Spain (0.0% per year).

In value terms, China ($X) remains the key foreign market for rapeseed oil exports from the United Arab Emirates, comprising 51% of total exports. The second position in the ranking was held by Spain ($X), with a 5.2% share of total exports. It was followed by Hong Kong SAR, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (0.0% per year) and Hong Kong SAR (+72.9% per year).

Export Prices by Country

In 2022, the average rapeseed oil export price amounted to $X per ton, which is down by -7.4% against the previous year. Overall, the export price showed a mild downturn. The most prominent rate of growth was recorded in 2021 an increase of 34% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 (+1.4%), while the prices for the other major destinations experienced a decline.

Rapeseed Oil Imports

Imports into the United Arab Emirates

In 2022, the amount of rapeseed oil imported into the United Arab Emirates contracted to X tons, with a decrease of -5.5% compared with 2021. Overall, imports, however, saw a strong expansion. The pace of growth was the most pronounced in 2018 when imports increased by 74%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, rapeseed oil imports shrank to $X in 2022. Over the period under review, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -10.6% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 45% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Canada (X tons), Turkey (X tons) and India (X tons) were the main suppliers of rapeseed oil imports to the United Arab Emirates, together comprising 80% of total imports. The United States, Spain and France lagged somewhat behind, together accounting for a further 6.1%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +66.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Canada ($X) and India ($X) appeared to be the largest rapeseed oil suppliers to the United Arab Emirates, with a combined 76% share of total imports. The United States, Spain and France lagged somewhat behind, together comprising a further 4.6%.

In terms of the main suppliers, Spain, with a CAGR of +62.9%, saw the highest rates of growth with regard to 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 rapeseed oil import price stood at $X per ton in 2022, which is down by -2% against the previous year. Overall, the import price recorded a noticeable descent. The pace of growth appeared the most rapid in 2019 an increase of 22%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 France ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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