Slovakia: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in Slovakia

In 2022, the Slovak refined rapeseed oil market increased by X% to $X, rising for the third consecutive year after four years of decline. In general, consumption showed a relatively flat trend pattern. Refined rapeseed oil consumption peaked in 2022 and is likely to see gradual growth in years to come.

Refined Rapeseed Oil Production in Slovakia

In value terms, refined rapeseed oil production surged to $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Refined Rapeseed Oil Exports

Exports from Slovakia

In 2022, overseas shipments of refined rape, colza or mustard oil increased by X% to X tons, rising for the third consecutive year after three years of decline. Overall, exports posted a noticeable expansion. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, refined rapeseed oil exports surged to $X in 2022. Over the period under review, exports posted a buoyant increase. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The Czech Republic (X tons), Austria (X tons) and Hungary (X tons) were the main destinations of refined rapeseed oil exports from Slovakia, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for refined rapeseed oil exported from Slovakia were the Czech Republic ($X), Austria ($X) and Hungary ($X), together comprising X% of total exports.

In terms of the main countries of destination, the Czech Republic, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average refined rapeseed oil export price stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price posted a mild increase. The pace of growth was the most pronounced in 2021 an increase of X%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Rapeseed Oil Imports

Imports into Slovakia

In 2022, approx. X tons of refined rape, colza or mustard oil were imported into Slovakia; with an increase of X% on the year before. Overall, imports recorded a strong expansion. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, refined rapeseed oil imports surged to $X in 2022. Over the period under review, imports posted significant growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, the Czech Republic (X tons) constituted the largest supplier of refined rapeseed oil to Slovakia, accounting for a X% share of total imports. Moreover, refined rapeseed oil imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Hungary (X tons), threefold. Poland (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Czech Republic amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Poland (X% per year).

In value terms, the Czech Republic ($X) constituted the largest supplier of refined rape, colza or mustard oil to Slovakia, comprising X% of total imports. The second position in the ranking was taken by Hungary ($X), with a X% share of total imports. It was followed by Poland, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Czech Republic totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Poland (X% per year).

Import Prices by Country

The average refined rapeseed oil import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, import price indicated mild 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 2015 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Poland ($X per ton) and Austria ($X per ton), while the price for Germany ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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