Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in Belgium - 2023
Contents:
- Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in Belgium (FOB) - 2023
- Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in Belgium (CIF) - 2022
- Exports of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in Belgium
- Imports of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in Belgium
Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in Belgium (FOB) - 2023
In October 2023, the average export price for vegetable oils; linseed oil and its fractions, crude, not chemically modifieds amounted to $1,315 per ton, picking up by 2.4% against the previous month. In general, the export price, however, recorded a slight decrease. The growth pace was the most rapid in April 2023 an increase of 18% against the previous month. Over the period under review, the average export prices hit record highs at $1,540 per ton in October 2022; however, from November 2022 to October 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Australia ($1,817 per ton), while the average price for exports to Norway ($1,084 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+1.8%), while the prices for the other major destinations experienced a decline.
Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in Belgium (CIF) - 2022
In 2022, the average import price for vegetable oils; linseed oil and its fractions, crude, not chemically modifieds amounted to $1,599 per ton, growing by 6.4% against the previous year. Over the period under review, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for vegetable oils; linseed oil and its fractions, crude, not chemically modifieds increased by +88.2% against 2018 indices. The growth pace was the most rapid in 2021 when the average import price increased by 49% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Germany ($1,939 per ton) and France ($1,734 per ton), while the price for the Netherlands ($1,328 per ton) and Russia ($1,522 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in Belgium
In 2022, shipments abroad of vegetable oils; linseed oil and its fractions, crude, not chemically modifieds was finally on the rise to reach 69K tons after two years of decline. In general, exports continue to indicate a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of vegetable oils; linseed oil and its fractions, crude, not chemically modifieds surged to $123M in 2022. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 46%. The exports peaked in 2022 and are likely to see steady growth in years to come.
| Export of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in Belgium (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 17.9 | 19.0 | 25.1 | 36.0 | 26.2% |
| Germany | 10.4 | 12.0 | 27.1 | 27.9 | 38.9% |
| Norway | 5.0 | 6.1 | 4.7 | 20.9 | 61.1% |
| France | 6.5 | 7.9 | 9.8 | 11.4 | 20.6% |
| Japan | 3.5 | 4.1 | 6.9 | 7.0 | 26.0% |
| United Kingdom | 1.3 | 1.5 | 3.3 | 3.0 | 32.1% |
| Italy | 1.6 | 1.4 | 1.6 | 2.7 | 19.1% |
| Chile | 0.3 | 0.3 | 0.4 | 2.7 | 108.0% |
| China | 3.8 | 3.0 | 2.0 | 1.3 | -30.1% |
| Others | 5.5 | 6.9 | 10.0 | 10.3 | 23.3% |
| Total | 55.8 | 62.3 | 90.9 | 123 | 30.1% |
Top Export Markets for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified from Belgium in 2022:
- Netherlands (20.4K tons)
- Germany (14.8K tons)
- Norway (12.5K tons)
- France (6.1K tons)
- Japan (3.7K tons)
- Chile (1.8K tons)
- Italy (1.6K tons)
- United Kingdom (1.6K tons)
- China (0.6K tons)
Imports of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in Belgium
After three years of growth, supplies from abroad of vegetable oils; linseed oil and its fractions, crude, not chemically modifieds decreased by -40% to 5.9K tons in 2022. In general, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 224% against the previous year.
In value terms, imports of vegetable oils; linseed oil and its fractions, crude, not chemically modifieds shrank significantly to $9.5M in 2022. Over the period under review, imports, however, recorded significant growth. The growth pace was the most rapid in 2020 with an increase of 273% against the previous year.
| Import of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in Belgium (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | N/A | N/A | 3.9 | 7.1 | 82.1% |
| Germany | 1.2 | 5.7 | 5.8 | 2.1 | 20.5% |
| France | 0.1 | 0.2 | 0.7 | 0.2 | 26.0% |
| Netherlands | N/A | 0.8 | 3.3 | 0.1 | -64.6% |
| Poland | 0.4 | N/A | 1.1 | N/A | 65.8% |
| Others | N/A | N/A | 0.1 | N/A | 0% |
| Total | 1.8 | 6.6 | 14.9 | 9.5 | 74.1% |
Top Suppliers of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified to Belgium in 2022:
- Russia (4.7K tons)
- Germany (1.1K tons)
- France (0.1K tons)
- Netherlands (0.1K tons)
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