Rapeseed Oil Price Trend

Rapeseed Oil Prices December 2023

The price of rapeseed oil in India for Q4 2023 reached 1127 USD/MT in December. The final HSBC India Manufacturing Purchasing Managers' Index surpassed a preliminary estimate of 56.7, rising to 56.9 from January's 56.5. This suggests robust production growth, bolstered by demand from a variety of sectors, including downstream agriculture and the food industries, both domestically and internationally. Meanwhile, the output and new orders sub-indices reached five-month highs, propelled by strong demand. And as the demand for biodiesel increased significantly, so did the offtakes for its feedstock, especially vegetable oil. The demand for alternative oils remained high due to the restricted supply of palm oil in the region and the decreased production in major producing countries. Due to its similar use in the biofuel industries, this resulted in higher prices for rapeseed oil. Up until the end of March, market players continued to strategically manage their inventories and trade at higher costs to maximize profits. The depreciation of the Indian rupee to the US dollar resulted in a further rise in import expenses for regional traders and purchasers. Consequently, the price of rapeseed oil in India at the end of the quarter was USD 1247/MT Ex Jaipur, indicating a generally upward trend.

Rapeseed Oil Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Rapeseed Oil Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of rapeseed oil pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of rapeseed oil at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of rapeseed oil price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing rapeseed oil price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Rapeseed Oil Market Analysis

The global rapeseed oil market size reached US$ 35.9 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 54.9 Billion, at a projected CAGR of 4.7% during 2023-2032.

• The market for rapeseed oil is seeing a notable shift toward health and wellness due to consumer demand for wholesome, natural foods. According to the FOOD INSIGHT ORGANISATION, three in four Americans (74%) believe the food and beverages they consume have a significant or moderate impact on their overall mental and emotional well-being. Health-conscious consumers are becoming more interested in rapeseed oil due to its low saturated fat content and high levels of beneficial omega-3 fatty acids. Growing evidence of rapeseed oil's health benefits is making it the go-to choice for food preparation and cooking. The market for rapeseed oil is anticipated to grow further as long as consumers continue to put their health first when making food choices.
• Additionally, in the rapeseed oil market, sustainability has taken center stage as both consumers and industry participants place a premium on ethical sourcing and production methods. According to the WORLD ECONOMIC FORUM, spending on sustainable brands and products by Generation X – those born between the mid-1960s and mid-1970s – has increased by 24% since 2019. And the behavior of other groups has followed a similar trend. The need for rapeseed oil produced with as little negative impact on the environment as possible is growing, thanks to efficient extraction techniques and ecologically friendly farming practices. To meet this demand, businesses are funding environmentally friendly projects like organic farming, cutting carbon emissions, and boosting biodiversity. The growing trend of consumers prioritizing sustainability is expected to have a significant impact on the future of the rapeseed oil industry.
• The rapeseed oil market is experiencing a trend toward the diversification of its applications beyond traditional culinary uses. While rapeseed oil has long been valued for its versatility is now being recognized in other industries such as cosmetics, pharmaceuticals, biofuels and especially in cooking. According to DD NEWS, India’s rapeseed and mustard output is likely to rise 7% from last year to a record 12.09 million metric tons in 2024, helped mainly by a larger planting area.
• . In cosmetics, rapeseed oil is prized for its moisturizing and emollient properties, while in pharmaceuticals, it is used as an ingredient in medicinal products. Additionally, the use of rapeseed oil as a renewable feedstock for biodiesel production is gaining momentum in the biofuel sector. This trend toward diversification is expanding the market opportunities for rapeseed oil and driving innovation in its production and use.

Rapeseed Oil News

The report covers the latest developments, updates, and trends impacting the global rapeseed oil market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in rapeseed oil production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the rapeseed oil price trend.

Latest developments in the rapeseed oil industry:

• May 2023, at the Fraunhofer Center for Chemical-Biotechnological Processes CBP in Leuna, Germany, representatives from politics, research and industry opened a novel pilot plant for the mild processing of rapeseed to increase the added-value potential of rapeseed as a raw material.
• In February 6, 2023, Cargill announced the launch of Gemini Pureit in Karnataka, reinforcing its commitment to expand the edible oils portfolio to South India.

Product Description

The versatile and extensively used vegetable oil rapeseed oil, sometimes referred to as canola oil in some areas, is made from the seeds of the rapeseed plant (Brassica napus or Brassica rapa). It is well known for having a high smoke point, mild flavor, and light texture, which make it useful in a variety of culinary applications.

With low levels of saturated fats and high levels of healthful monounsaturated and polyunsaturated fats, including omega-3 fatty acids, this golden-yellow oil is highly valued for its nutritional profile. Additionally, it has a lot of vitamin E, an antioxidant that is good for your whole body.

Rapeseed oil is a popular choice for cooking, frying, baking, and salad dressings due to its mild flavor and ability to enhance the natural taste of ingredients. Its high smoke point makes it ideal for high-heat cooking methods without the risk of burning or producing harmful compounds.

Beyond culinary uses, rapeseed oil finds applications in cosmetics, pharmaceuticals, and biofuels. In cosmetics, it is valued for its moisturizing properties and is commonly found in skincare products. In pharmaceuticals, it serves as an ingredient in medicinal formulations. Additionally, rapeseed oil is increasingly utilized as a renewable feedstock for biodiesel production, contributing to sustainable energy solutions.

Regional Coverage

The report provides a detailed analysis of the rapeseed oil market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the rapeseed oil price trend.

Global Rapeseed Oil Price

The report offers a holistic view of the global rapeseed oil pricing trends in the form of rapeseed oil price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of rapeseed oil but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed rapeseed oil demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Rapeseed Oil Price

During the first quarter of 2024, the European Rapeseed Oil market experienced significant challenges and a notable decline in prices. This declining trend was caused by several factors, including the state of the global market and the falling costs of substitute edible oils like soybean oil. Market dynamics were significantly shaped by the complex relationship between soybean oil and rapeseed oil, which serve as substitutes in a variety of applications ranging from culinary to the production of biofuel.

This analysis can be extended to include detailed rapeseed oil price information for a comprehensive list of countries.

North America Rapeseed Oil Price

The price of rapeseed oil in the North American region exhibited a generally gloomy outlook but a steady increase toward the end of the period, mirroring the market trajectory of the European regions. Lower downstream demand and increased market participants' inventories contributed to the significant decline in rapeseed oil prices that occurred in January.

Specific rapeseed oil historical data within the United States and Canada can also be provided.

Middle East and Africa Rapeseed Oil Price

The report explores the rapeseed oil pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on rapeseed oil prices for countries can also be provided.

Asia Pacific Rapeseed Oil Price

In the APAC rapeseed oil market exhibited a largely upward trend, following a period of steady decline that was ascribed to a good harvest the previous year. At first, favorable weather conditions probably increased yields, which decreased reliance on imports and created a negative market outlook. Destocking techniques were carefully applied by local market participants to safeguard their stockpiles and get ready for fresh supplies.

This rapeseed oil price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Rapeseed Oil Price

The analysis of rapeseed oil prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of rapeseed oil pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting rapeseed oil price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The rapeseed oil price charts ensure our clients remain at the forefront of the industry.