Australia and Oceania: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in Australia and Oceania

The refined rapeseed oil market in Australia and Oceania surged to $X in 2023, rising by X% against the previous year. The total consumption indicated a mild increase from 2012 to 2023: its value 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, consumption increased by X% against 2020 indices. Over the period under review, the market attained the peak level in 2023 and is likely to continue growth in the near future.

Refined Rapeseed Oil Production in Australia and Oceania

In value terms, refined rapeseed oil production expanded markedly to $X in 2023 estimated in export price. The total production indicated a notable increase from 2012 to 2023: its value 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, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Refined Rapeseed Oil Exports

Exports in Australia and Oceania

In 2023, overseas shipments of refined rape, colza or mustard oil decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports, however, showed resilient growth. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2022, and then dropped markedly in the following year.

In value terms, refined rapeseed oil exports dropped remarkably to $X in 2023. In general, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then reduced markedly in the following year.

Exports by Country

The biggest shipments were from Australia (X tons), together finishing at X% of total export.

Australia was also the fastest-growing in terms of the refined rape, colza or mustard oil exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual growth rate of value in Australia stood at X%.

Export Prices by Country

In 2023, the export price in Australia and Oceania amounted to $X per ton, which is down by X% against the previous year. Export price indicated modest 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, refined rapeseed oil export price increased by X% against 2017 indices. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2022, and then shrank in the following year.

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

From 2012 to 2023, the rate of growth in terms of prices for Australia amounted to X% per year.

Refined Rapeseed Oil Imports

Imports in Australia and Oceania

Refined rapeseed oil imports surged to X tons in 2023, jumping by X% on the year before. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

In value terms, refined rapeseed oil imports fell slightly to $X in 2023. Total imports indicated a noticeable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. The level of import peaked at $X in 2022, and then contracted in the following year.

Imports by Country

New Zealand was the main importing country with an import of around X tons, which resulted at X% of total imports. It was distantly followed by Australia (X tons), committing a X% share of total imports.

New Zealand was also the fastest-growing in terms of the refined rape, colza or mustard oil imports, with a CAGR of X% from 2012 to 2023. Australia (X%) illustrated a downward trend over the same period. New Zealand (X p.p.) significantly strengthened its position in terms of the total imports, while Australia saw its share reduced by X% from 2012 to 2023, respectively.

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

In New Zealand, refined rapeseed oil imports increased at an average annual rate of X% over the period from 2012-2023.

Import Prices by Country

In 2023, the import price in Australia and Oceania amounted to $X per ton, falling by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Australia totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by New Zealand (X%).

Source: IndexBox Platform