Report Update: Apr 1, 2024

Australia - Rapeseed Oil - Market Analysis, Forecast, Size, Trends and Insights

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Rapeseed Oil Price in Australia - 2023

Rapeseed Oil Price in Australia (FOB) - 2022

The average rapeseed oil export price stood at $1,765 per ton in 2022, jumping by 31% against the previous year. Overall, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rapeseed oil export price increased by +101.6% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 39% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were China ($2,387 per ton) and the Philippines ($2,359 per ton), while the average price for exports to New Zealand ($1,684 per ton) and Malaysia ($1,920 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Rapeseed Oil Price in Australia (CIF) - 2023

The average rapeseed oil import price stood at $1,339 per ton in July 2023, falling by -29.6% against the previous month. Over the period under review, the import price saw a pronounced reduction. The growth pace was the most rapid in June 2023 an increase of 31% m-o-m. The import price peaked at $2,350 per ton in August 2022; however, from September 2022 to July 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was India ($2,218 per ton), while the price for Malaysia ($1,251 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Spain (0.0%), while the prices for the other major suppliers experienced a decline.

Rapeseed Oil Exports in Australia

In 2022, approx. 198K tons of rapeseed oil were exported from Australia; picking up by 5.1% compared with 2021 figures. In general, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +6.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +88.5% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 79%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, rapeseed oil exports soared to $349M in 2022. Over the period under review, exports posted a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 148%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Export of Rapeseed Oil in Australia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
New Zealand	1.2	1.0	2.5	46.2	237.7%
Taiwan (Chinese)	0.2	N/A	0.3	30.2	432.5%
United States	N/A	N/A	0.1	29.0	28900.0%
South Korea	N/A	N/A	N/A	24.3	0%
Malaysia	N/A	N/A	N/A	17.9	0%
China	0.1	0.2	0.2	8.8	344.8%
Indonesia	4.2	1.3	N/A	4.2	0.0%
Vietnam	N/A	N/A	N/A	3.3	0%
Japan	1.3	1.1	1.2	3.3	36.4%
Fiji	0.5	1.0	0.3	0.8	17.0%
Others	136	97.2	248	181	10.0%
Total	143	102	253	349	34.6%

Top Export Markets for Rapeseed Oil from Australia in 2022:

New Zealand (27.4K tons)
Taiwan (Chinese) (15.3K tons)
United States (15.1K tons)
South Korea (12.3K tons)
Malaysia (9.3K tons)
China (3.7K tons)
Indonesia (1.9K tons)
Vietnam (1.6K tons)
Japan (1.6K tons)
Fiji (0.4K tons)

Rapeseed Oil Imports in Australia

In 2022, overseas purchases of rapeseed oil were finally on the rise to reach 12K tons after two years of decline. Over the period under review, imports, however, saw a drastic downturn.

In value terms, rapeseed oil imports soared to $26M in 2022. In general, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +9.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Rapeseed Oil in Australia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Malaysia	14.1	12.1	14.8	21.6	15.3%
India	0.7	1.2	1.2	2.4	50.8%
United States	3.0	0.7	0.2	0.1	-67.8%
Russia	N/A	1.9	N/A	N/A	0%
New Zealand	0.7	0.1	0.8	N/A	6.9%
Others	1.1	2.2	0.8	1.7	15.6%
Total	19.5	18.2	17.9	25.8	9.8%

Top Suppliers of Rapeseed Oil to Australia in 2022:

United States (undefinedK tons)
Malaysia (10.6K tons)
India (0.8K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the rapeseed oil market in Australia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 271 - Oil of Rapeseed or Canola oil

Country coverage:

Australia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Australia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023