Australia and Oceania: Oil Crops Market 2024

Oil Crops Market Size in Australia and Oceania

The oil crops market in Australia and Oceania fell to $X in 2022, with a decrease of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2021, and then reduced in the following year.

Oil Crops Production in Australia and Oceania

In value terms, oil crops production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Australia (X tons), Papua New Guinea (X tons) and Solomon Islands (X tons), together accounting for X% of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Australia (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average yield of oil crops (primary) in Australia and Oceania skyrocketed to X tons per ha, jumping by X% compared with the previous year. The yield indicated a perceptible increase from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, oil crops yield increased by X% against 2018 indices. As a result, the yield attained the peak level and is likely to continue growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of oil crops (primary) were harvested in Australia and Oceania; waning by X% on the previous year. In general, the harvested area continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the harvested area increased by X% against the previous year. The level of harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area stood at a somewhat lower figure.

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Oil Crops Exports

Exports in Australia and Oceania

In 2022, overseas shipments of oil crops (primary) increased by X% to X tons, rising for the third year in a row after two years of decline. Overall, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, oil crops exports surged to $X in 2022. In general, exports continue to indicate a strong expansion. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

Australia (X tons) represented roughly X% of total exports in 2022.

Australia was also the fastest-growing in terms of the oil crops (primary) exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) also remains the largest oil crops supplier in Australia and Oceania.

In Australia, oil crops exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, with an increase of X% against the previous year. Export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, oil crops export price increased by X% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Australia.

From 2012 to 2022, the rate of growth in terms of prices for Australia amounted to X% per year.

Oil Crops Imports

Imports in Australia and Oceania

In 2022, purchases abroad of oil crops (primary) increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, oil crops imports soared to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the two major importers of oil crops (primary), namely Australia and New Zealand, represented more than two-thirds of total import.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of X%).

In value terms, Australia ($X) constitutes the largest market for imported oil crops (primary) in Australia and Oceania, comprising X% of total imports. The second position in the ranking was taken by New Zealand ($X), with a X% share of total imports.

In Australia, oil crops imports increased at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per ton), while New Zealand stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%).

Source: IndexBox Platform

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