Belgium: Rapeseed Oil Market 2024

Rapeseed Oil Market Size in Belgium

The Belgian rapeseed oil market soared to $X in 2022, picking up by X% against the previous year. In general, consumption posted a strong increase. Rapeseed oil consumption peaked in 2022 and is likely to see gradual growth in years to come.

Rapeseed Oil Production in Belgium

In value terms, rapeseed oil production reached $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible slump. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Rapeseed oil production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Rapeseed Oil Exports

Exports from Belgium

After three years of growth, overseas shipments of rapeseed oil decreased by X% to X tons in 2022. In general, total exports indicated slight 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. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at X tons in 2021, and then shrank significantly in the following year.

In value terms, rapeseed oil exports reduced to $X in 2022. Over the period under review, exports, however, enjoyed a perceptible expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

Germany (X tons), the Netherlands (X tons) and France (X tons) were the main destinations of rapeseed oil exports from Belgium, together accounting for X% of total exports. Norway, China, Spain, the UK, Sweden and Israel lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for rapeseed oil exported from Belgium were Germany ($X), the Netherlands ($X) and France ($X), together accounting for X% of total exports. Norway, Spain, China, the UK, Sweden and Israel lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, China, with a CAGR of X%, 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

In 2022, the average rapeseed oil export price amounted to $X per ton, jumping by X% against the previous year. Overall, export price indicated a mild increase 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, rapeseed oil export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while the average price for exports to China ($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 Israel (X%), while the prices for the other major destinations experienced more modest paces of growth.

Rapeseed Oil Imports

Imports into Belgium

In 2022, after four years of growth, there was significant decline in supplies from abroad of rapeseed oil, when their volume decreased by X% to X tons. Over the period under review, total imports indicated buoyant 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. Based on 2022 figures, imports increased by X% against 2017 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, rapeseed oil imports soared to $X in 2022. Overall, imports, however, posted a strong expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

France (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of rapeseed oil imports to Belgium, together comprising X% of total imports. The UK lagged somewhat behind, accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, France ($X), the Netherlands ($X) and Germany ($X) appeared to be the largest rapeseed oil suppliers to Belgium, with a combined X% share of total imports. These countries were followed by the UK, which accounted for a further X%.

Among the main suppliers, the UK, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average rapeseed oil import price stood at $X per ton in 2022, jumping by X% against the previous year. In general, import price indicated a pronounced 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, rapeseed oil import price increased by X% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from France ($X per ton) and the UK ($X per ton), while the price for Germany ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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