Israel: Vegetable Oils Market 2024

Vegetable Oils Market Size in Israel

After two years of growth, the Israeli vegetable oils market decreased by X% to $X in 2023. Over the period under review, consumption showed a noticeable descent. Vegetable oils consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Vegetable Oils Production in Israel

In value terms, vegetable oils production declined slightly to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a deep contraction. The growth pace was the most rapid in 2015 when the production volume increased by X%. Vegetable oils production peaked at $X in 2017; however, from 2018 to 2023, production stood at a somewhat lower figure.

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Vegetable Oils Exports

Exports from Israel

In 2023, after two years of decline, there was significant growth in overseas shipments of vegetable fats and oils, when their volume increased by X% to X tons. Over the period under review, exports, however, showed a deep contraction. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2023, the growth of the exports failed to regain momentum.

In value terms, vegetable oils exports soared to $X in 2023. In general, exports, however, showed a drastic downturn. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Slovenia (X tons) was the main destination for vegetable oils exports from Israel, with a X% share of total exports. Moreover, vegetable oils exports to Slovenia exceeded the volume sent to the second major destination, Canada (X tons), threefold. The third position in this ranking was held by Tanzania (X kg), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Slovenia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Tanzania (X% per year).

In value terms, Slovenia ($X) emerged as the key foreign market for vegetable fats and oils exports from Israel, comprising X% of total exports. The second position in the ranking was taken by Canada ($X), with a X% share of total exports. It was followed by Tanzania, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Slovenia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Tanzania (X% per year).

Export Prices by Country

In 2023, the average vegetable oils export price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, export price indicated pronounced growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, vegetable oils export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2023 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2023, amid the top suppliers, the countries with the highest prices were Slovenia ($X per ton) and Tanzania ($X per ton), while the average price for exports to Canada ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Oils Imports

Imports into Israel

In 2023, the amount of vegetable fats and oils imported into Israel declined remarkably to X tons, dropping by X% against 2022. In general, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked at X tons in 2014; however, from 2015 to 2023, imports remained at a lower figure.

In value terms, vegetable oils imports reduced rapidly to $X in 2023. Overall, imports recorded a perceptible contraction. The pace of growth was the most pronounced in 2022 with an increase of X%. As a result, imports reached the peak of $X, and then fell notably in the following year.

Imports by Country

In 2023, Indonesia (X tons) constituted the largest supplier of vegetable oils to Israel, with a X% share of total imports. It was followed by Germany (X tons), with a X% share of total imports. France (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Indonesia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and France (X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of vegetable fats and oils to Israel, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by France, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and France (X% per year).

Import Prices by Country

The average vegetable oils import price stood at $X per ton in 2023, which is down by X% against the previous year. In general, the import price, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2015 when the average import price increased by X%. The import price peaked at $X per ton in 2022, and then dropped in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Indonesia ($X per ton) and Malaysia ($X per ton), while the price for Singapore ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform