Crude Rapeseed Oil Market

The article provides an in-depth analysis of the global market for crude rapeseed oil, covering consumption trends, production data, import/export statistics, and price trends from 2012 to 2022. It forecasts market performance up to 2030, predicting steady growth in consumption and market value. Key insights include the top consuming and producing countries, per capita consumption levels, import/export volume and value, as well as price fluctuations over the years. The report highlights notable growth rates in specific countries and the overall market trends in the crude rapeseed oil industry.

Market Forecast

Driven by rising demand for crude rapeseed oil worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +4.2% for the period from 2022 to 2030, which is projected to bring the market volume to 30M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.0% for the period from 2022 to 2030, which is projected to bring the market value to $46.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Crude Rape, Colza Or Mustard Oil

In 2022, after five years of growth, there was significant decline in consumption of crude rape, colza or mustard oil, when its volume decreased by -19.3% to 21M tons. Overall, consumption saw a relatively flat trend pattern. Global consumption peaked at 27M tons in 2021, and then declined significantly in the following year.

The global crude rapeseed oil market size contracted to $31.8B in 2022, shrinking by -12% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $36.1B, and then declined in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (4.2M tons), Canada (3.4M tons) and India (2.7M tons), together accounting for 48% of global consumption. Germany, the United States, Japan, Belgium, Poland, Mexico, Pakistan, Norway, Australia and France lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Poland (with a CAGR of +9.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($8.4B), India ($6.3B) and Canada ($3.2B) appeared to be the countries with the highest levels of market value in 2022, with a combined 56% share of the global market. Japan, the United States, Belgium, Germany, Poland, Pakistan, Mexico, Norway, France and Australia lagged somewhat behind, together comprising a further 31%.

Poland, with a CAGR of +10.0%, saw the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of crude rapeseed oil per capita consumption in 2022 were Canada (88 kg per person), Norway (73 kg per person) and Belgium (73 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Poland (with a CAGR of +9.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Crude Rape, Colza Or Mustard Oil

After four years of growth, production of crude rape, colza or mustard oil decreased by -18.4% to 21M tons in 2022. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 7.4%. Global production peaked at 26M tons in 2021, and then declined notably in the following year.

In value terms, crude rapeseed oil production dropped to $29.6B in 2022 estimated in export price. Over the period under review, production continues to indicate a mild descent. The growth pace was the most rapid in 2015 when the production volume increased by 39%. Over the period under review, global production reached the maximum level at $35.2B in 2012; however, from 2013 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Canada (4.4M tons), China (3.1M tons) and India (2.8M tons), with a combined 48% share of global production. Germany, Japan, Russia, France, the United States, Poland, Belgium, Mexico, Pakistan and the United Arab Emirates lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +16.8%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Crude Rape, Colza Or Mustard Oil

In 2022, after four years of growth, there was significant decline in overseas purchases of crude rape, colza or mustard oil, when their volume decreased by -15.1% to 4.7M tons. The total import volume increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 13% against the previous year. As a result, imports reached the peak of 5.5M tons, and then fell notably in the following year.

In value terms, crude rapeseed oil imports stood at $7.6B in 2022. In general, imports, however, recorded a moderate expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 64% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the near future.

Imports By Country

In 2022, China (1M tons), distantly followed by the Netherlands (573K tons), the United States (565K tons), Belgium (401K tons), Norway (397K tons) and Germany (306K tons) were the largest importers of crude rape, colza or mustard oil, together comprising 70% of total imports. Poland (192K tons), South Korea (135K tons), Lithuania (122K tons), Latvia (117K tons), Chile (90K tons), Spain (90K tons) and Sweden (86K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +12.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest crude rapeseed oil importing markets worldwide were China ($1.6B), the United States ($934M) and the Netherlands ($818M), together accounting for 44% of global imports. Belgium, Norway, Germany, Poland, South Korea, Lithuania, Chile, Spain, Latvia and Sweden lagged somewhat behind, together comprising a further 43%.

In terms of the main importing countries, Spain, with a CAGR of +18.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average crude rapeseed oil import price stood at $1,614 per ton in 2022, surging by 29% against the previous year. Overall, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.3% 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 import price increased by +96.8% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by 44%. Global import price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Chile ($1,898 per ton) and Spain ($1,824 per ton), while Latvia ($1,342 per ton) and Lithuania ($1,424 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+5.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Crude Rape, Colza Or Mustard Oil

In 2022, shipments abroad of crude rape, colza or mustard oil decreased by -10.1% to 4.6M tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 8.8%. Over the period under review, the global exports attained the maximum at 5.2M tons in 2021, and then declined in the following year.

In value terms, crude rapeseed oil exports expanded rapidly to $7.3B in 2022. In general, exports, however, continue to indicate a notable increase. The most prominent rate of growth was recorded in 2021 with an increase of 60%. Over the period under review, the global exports reached the maximum in 2022 and are likely to see steady growth in years to come.

Exports By Country

Canada (975K tons) and Russia (824K tons) represented the main exporters of crude rape, colza or mustard oil in 2022, resulting at near 21% and 18% of total exports, respectively. It was distantly followed by France (501K tons), Germany (480K tons), Belarus (358K tons), the United Arab Emirates (279K tons) and the Netherlands (263K tons), together mixing up a 40% share of total exports. The following exporters - Belgium (111K tons), Australia (90K tons), Denmark (85K tons), Poland (84K tons), the Czech Republic (83K tons) and Latvia (70K tons) - each amounted to an 11% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +32.8%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest crude rapeseed oil supplying countries worldwide were Canada ($1.6B), Russia ($1.2B) and France ($859M), together comprising 50% of global exports. Germany, Belarus, the Netherlands, the United Arab Emirates, Belgium, Australia, Denmark, the Czech Republic, Poland and Latvia lagged somewhat behind, together accounting for a further 40%.

Belarus, with a CAGR of +37.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average crude rapeseed oil export price amounted to $1,568 per ton, rising by 26% against the previous year. Overall, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.4% 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 +96.5% against 2019 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 48%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Australia ($1,792 per ton) and France ($1,715 per ton), while the United Arab Emirates ($1,389 per ton) and Latvia ($1,417 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+4.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform