MENA: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in MENA

In 2022, the MENA's refined rapeseed oil market increased by X% to $X, rising for the second consecutive year after four years of decline. In general, consumption, however, continues to indicate a pronounced setback. The growth pace was the most rapid in 2016 with an increase of X%. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Refined Rapeseed Oil Production in MENA

In value terms, refined rapeseed oil production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2016 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Refined Rapeseed Oil Exports

Exports in MENA

After two years of growth, overseas shipments of refined rape, colza or mustard oil decreased by X% to X tons in 2022. Overall, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021, and then shrank significantly in the following year.

In value terms, refined rapeseed oil exports shrank sharply to $X in 2022. Over the period under review, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then shrank notably in the following year.

Exports by Country

In 2022, the United Arab Emirates (X tons) was the main exporter of refined rape, colza or mustard oil, making up X% of total exports. It was distantly followed by Turkey (X tons), comprising a X% share of total exports. Oman (X tons) followed a long way behind the leaders.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. While the share of Turkey (X p.p.) and Oman (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest refined rapeseed oil supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports.

In the United Arab Emirates, refined rapeseed oil exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, with an increase of X% against the previous year. Export price indicated a tangible 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, refined rapeseed oil export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the export price figures.

Refined Rapeseed Oil Imports

Imports in MENA

In 2022, approx. X tons of refined rape, colza or mustard oil were imported in MENA; with an increase of X% against 2021. Over the period under review, imports continue to indicate prominent growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, refined rapeseed oil imports soared to $X in 2022. In general, imports showed resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Israel prevails in imports structure, recording X tons, which was near X% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), achieving a X% share of total imports. Oman (X tons), Djibouti (X tons), Jordan (X tons) and Qatar (X tons) followed a long way behind the leaders.

Imports into Israel increased at an average annual rate of X% from 2012 to 2022. At the same time, Djibouti (X%), Qatar (X%), Oman (X%), Jordan (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Djibouti emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. While the share of Djibouti (X p.p.), Qatar (X p.p.) and Oman (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Israel (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported refined rape, colza or mustard oil in MENA, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

In Israel, refined rapeseed oil imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, increasing by X% against the previous year. Import price indicated pronounced growth 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, refined rapeseed oil import price increased by X% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Qatar ($X per ton), while Djibouti ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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