United Kingdom: Crude Rapeseed Oil Market 2024

Crude Rapeseed Oil Market Size in the UK

The UK crude rapeseed oil market amounted to $X in 2022, growing by 14% against the previous year. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Crude rapeseed oil consumption peaked in 2022 and is expected to retain growth in the immediate term.

Crude Rapeseed Oil Production in the UK

In value terms, crude rapeseed oil production fell to $X in 2022 estimated in export price. Overall, 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 -8.6% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 24%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Crude Rapeseed Oil Exports

Exports from the UK

Crude rapeseed oil exports from the UK reduced dramatically to X tons in 2022, shrinking by -78.2% against the previous year. Over the period under review, exports recorded a deep setback. The most prominent rate of growth was recorded in 2018 when exports increased by 307% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, crude rapeseed oil exports shrank significantly to $X in 2022. In general, exports recorded a deep reduction. The pace of growth appeared the most rapid in 2018 with an increase of 241%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X tons), Germany (X tons) and France (X tons) were the main destinations of crude rapeseed oil exports from the UK, with a combined 84% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +94.9%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for crude rapeseed oil exported from the UK were Sweden ($X), Germany ($X) and France ($X), with a combined 84% share of total exports.

In terms of the main countries of destination, Sweden, with a CAGR of +81.8%, 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

The average crude rapeseed oil export price stood at $X per ton in 2022, surging by 44% against the previous year. Over the period under review, the export price saw buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Norway ($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 Belgium (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Rapeseed Oil Imports

Imports into the UK

In 2022, imports of crude rape, colza or mustard oil into the UK soared to X tons, with an increase of 266% against 2021. Over the period under review, imports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 1,260%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, crude rapeseed oil imports soared to $X in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 839% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

The Netherlands (X tons), Spain (X tons) and Germany (X tons) were the main suppliers of crude rapeseed oil imports to the UK, together comprising 97% of total imports.

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 +528.7%), while imports for the other leaders experienced a decline.

In value terms, the largest crude rapeseed oil suppliers to the UK were the Netherlands ($X), Spain ($X) and Germany ($X), together accounting for 96% of total imports.

In terms of the main suppliers, Spain, with a CAGR of +621.8%, 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 mixed trend patterns.

Import Prices by Country

In 2022, the average crude rapeseed oil import price amounted to $X per ton, picking up by 17% against the previous year. In general, the import price posted resilient growth. The pace of growth appeared the most rapid in 2021 an increase of 75%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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