Middle East: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in the Middle East

In 2022, the Middle Eastern refined rapeseed oil market increased by X% to $X, rising for the second consecutive year after four years of decline. In general, consumption, however, showed a noticeable decrease. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Refined Rapeseed Oil Production in the Middle East

In value terms, refined rapeseed oil production declined slightly to $X in 2022 estimated in export price. Over the period under review, production showed a mild decrease. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Refined Rapeseed Oil Exports

Exports in the Middle East

In 2022, shipments abroad of refined rape, colza or mustard oil decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. The volume of export peaked at X tons in 2021, and then dropped dramatically in the following year.

In value terms, refined rapeseed oil exports declined sharply to $X in 2022. Over the period under review, exports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then reduced dramatically in the following year.

Exports by Country

The United Arab Emirates was the main exporter of refined rape, colza or mustard oil in the Middle East, with the volume of exports reaching X tons, which was near X% of total exports in 2022. It was distantly followed by Turkey (X tons), achieving a X% share of total exports. Oman (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to refined rapeseed oil exports from the United Arab Emirates stood at X%. At the same time, Oman (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, 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 ($X) remains the largest refined rapeseed oil supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to X%. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Oman (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, surging by X% against the previous year. Export price indicated a notable 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, 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%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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 the Middle East

In 2022, approx. X tons of refined rape, colza or mustard oil were imported in the Middle East; with an increase of X% on 2021. Total imports indicated prominent 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 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, refined rapeseed oil imports soared to $X in 2022. In general, imports showed a resilient expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

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

From 2012 to 2022, average annual rates of growth with regard to refined rapeseed oil imports into Israel stood at X%. At the same time, Qatar (X%), Oman (X%), Jordan (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. While the share of Qatar (X p.p.) and Oman (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported refined rape, colza or mustard oil in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($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. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Oman (X% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, surging by X% against the previous year. Import price indicated a pronounced 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, refined rapeseed oil import price increased by X% against 2019 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 importing countries. In 2022, major importing countries recorded the following prices: in Qatar ($X per ton) and the United Arab Emirates ($X per ton), while Jordan ($X per ton) and Israel ($X per ton) were 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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