Belgium Remains the Largest Global Linseed Oil Exporter despite 11% Drop in 2014

Vegetable And Animal Oils And Fats October 05, 2015
Author: Alexander Romanenko
Chief Executive Officer

Belgium continued its dominance in the global linseed oil trade. In 2014, Belgium exported 96 thousand tonnes of linseed oil totaling 117 million USD, 11% under the previous year. Its primary trading partner was Germany, where it supplied 37% of its total linseed oil exports in value terms, accounting for 99% of Germany's total imports.

Overall, the global linseed oil trade reached 273 million USD, with a CAGR of 4% from 2007 to 2014. In physical terms, it decreased from 232 thousand tonnes in 2007 to 195 thousand tonnes in 2014.

In 2014, the Netherlands (18%), Germany (13%), the United Kingdom (9%), China (8%) and Gambia (8%) were the leading destinations of linseed oil imports, together making up 55% of global imports. The share of the Netherlands increased (+8 percentage points), while the share of the U.S. illustrated negative dynamics (-4 percentage points). The shares of the other countries remained stable or showed more moderate growth.

Germany and the Dominican Republic were among the other main global suppliers of linseed oil in 2014 with a combined 21% share of global exports. However, the fastest growing exporter from 2007 to 2014 was Spain (+28% per year). Spain strengthened its position in the global export structure, from 1% in 2007 to 5% in 2014.

Source: World: Linseed Oil - Market Report. Analysis And Forecast To 2020