Rapeseed Oil Prices

Rapeseed Oil Prices September 2024

The rapeseed oil prices in the United States for Q3 2024 reached 1160 USD/MT in September. The market in North America encountered a complicated array of issues in Q3 2024, influenced by both regional and worldwide factors. North America witnessed a medium rise in prices; however, the Europe market witnessed a considerable cost surge. The market was damaged by transportation setbacks, increased utility expenses, and inventory shortages, but the consequences were lessened by steady local output.

The price trend for rapeseed oil in China for Q3 2024 settled at 1655 USD/MT in September. As the Q3 2024 approached, the Asia Pacific region saw a sharp increase in the prices, with the country witnessing the biggest cost swings. The main factors affecting industry trends were rising import tariffs as a result of decline in currency valuation, increased adoption from important sectors, and supply restrictions. Price pressures were exacerbated by the assertive stock growth as a result of the restricted supply and strong demand. The overall price increases were also caused by factors including growing freight prices, processing delays, and increased power expenses that affected production.

In Germany, the rapeseed oil prices for Q3 2024 reached 1000 USD/MT in September. A number of interrelated causes caused a significant decline in the market in the region through Q3 2024. Higher export demand and greater buying activity caused prices to spike in July, especially in Germany. However, winter rapeseed crops suffered from adverse season conditions in major growing regions like Germany, Poland, Germany, and Ukraine, which decreased produced and enhanced market supply and fueled price increases. The market began a sharp decline at the beginning of August and continued to do so during the ending of the quarter.

Rapeseed Oil Prices June 2024

During the second quarter of 2024, the rapeseed oil prices in India reached 1431 USD/MT in June. The market saw notable price increases, largely due to a rise in domestic consumption coupled with reduced production. Unfavorable weather conditions, such as intense summer heat, significantly affected crop yields, tightening supply. This, combined with steady demand from the food and biodiesel sectors, created increasing burden on prices. Geopolitical tensions further impacted the market, disrupting supply chains and exacerbating price volatility.

In the Q2 2024, the price of rapeseed oil in Germany reached 1049 USD/MT in June. The market displayed consistent growth due to a combination of seasonal factors and external influences. Unpredictable weather disrupted planting activities, resulting in lower crop yields and tightening supplies. Concurrently, strong demand from the biodiesel and food sectors fueled price increases. Geopolitical uncertainties added further complexity by affecting trade logistics and raising freight costs. Despite these challenges, the Germany rapeseed oil market showed resilience, with prices continuing to climb throughout the quarter, reflecting a strong and optimistic pricing dynamics driven by robust demand and constrained supply.

Rapeseed Oil Prices March 2024

The rapeseed oil prices in India for Q1 2024 reached 1259 USD/MT in March. The market exhibited a generally upward trend despite an initial decline. This was due to a strong harvest in the prior season and improved local production, reducing reliance on imports. However, the market saw a rise in demand from the agricultural and food sectors, supported by increased biodiesel consumption. Although the depreciation of the Indian Rupee against the dollar raised costs for traders, strategic inventory management and steady domestic demand bolstered market resilience. By the end of the quarter, the overall market outlook remained positive, reflecting a strong recovery in prices.

The price trend for rapeseed oil in Germany for Q1 2024, reached 1262 USD/MT in March. The market experienced a downturn in rapeseed oil prices due to sluggish consumption in the biodiesel sector and lower global prices of alternative oils such as soybean and sunflower oil. Rapeseed oil trade became less competitive due to the weaking of euro against the dollar, impacting trade dynamics. However, a modest rebound in local consumption and shipping rates toward the end of March led to an uptick in exports. Despite these late improvements, the overall price trend for rapeseed oil in Germany remained negative, with prices stabilizing towards the quarter-end due to strategic market adjustments.

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 the current price but also provides insights into rapeseed oil historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into rapeseed oil 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

Q3 2024:

A number of interrelated causes contributed to a significant decline in the market in the Q3 2024. First, higher export demand and rising buying tendency caused prices to spike in July, especially in Germany. However, winter rapeseed crops suffered from seasonal challenges in major crop growing regions like France, Poland, Germany, and Ukraine, which decreased output and amplified market exposure and fueled price increases. The market began a sharp decline at the beginning of August and continued until the end of this period. The diminished adoption from the end users and their more careful techniques of production in the face of persistent market challenges were the main causes of this reduction.

Q2 2024:

The rapeseed oil market in Europe saw a marked positive trend, particularly in Germany, where significant price fluctuations were observed. Seasonal factors, such as the start of the harvest and planting delays caused by adverse weather, led to noticeable price changes. The general market mood in Germany remained positive, with prices steadily increasing. Supply issues due to unfavorable weather reduced yields, while geopolitical tensions added further complications to trade and increased transportation costs, contributing to the price rise throughout the quarter.

Q1 2024:

The rapeseed oil market across this region encountered several restrictions during this quarter, leading to a reduction in costs. This downturn was driven by lower global costs of other oils, such as soybean oil, which saw increased inventories and attracted buyers. Other than this, adoption from the biodiesel sector weakened, and a stronger dollar made rapeseed oil less competitive. Despite these factors, slight resurges in product adoption during the month of March helped stabilize prices, aided by manageable shipping costs. In general, prices remained on a downward trajectory but showed some recovery toward the latter part of the period.

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

North America Rapeseed Oil Price

Q3 2024:

The rapeseed oil market in this country encountered a complicated array of issues in Q3 2024, influenced by both regional and worldwide factors. North America witnessed a more medium rise in prices, however the market in Europe witnessed a considerable price surge. The market was damaged by logistical delays, increased utility expenses, and supply chain interruptions, but the consequences were lessened by steady local output.

Q2 2024:

Across the United States, the rapeseed oil market experienced considerable shifts during Q2 2024, reflecting factors seen in Europe, specifically in Germany. The quarter started with strong price increases driven by low inventory levels and high domestic demand, despite challenges with availability of the product. Lower costs of freight helped offset the impact of the dollar's appreciation, allowing for higher import prices. However, in May 2024, prices fell sharply due to reduced global demand and competition from other edible oils, prompting lower procurement and increased levels of inventory among traders.

Q1 2024:

Rapeseed oil prices in the region followed a similar trend to those in Europe, initially reflecting a negative market sentiment with a gradual recovery during the latter part of the quarter. Prices dropped sharply in January due to lower end use demand and increased inventories. To manage excess supply, processors adjusted acquisition strategies, driving prices down further, helped by the strong dollar in comparison to other major currencies. In February, further declines occurred as Germany and other exporters reduced prices, prompting U.S. key players to adapt and stay competitive amid reduced global prices for vegetable oils.

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

Q3 2024:

As the Q3 2024 approached, the Asia Pacific area saw a sharp increase in the price of rapeseed oil, with India seeing the biggest price swings. The main factors affecting market fluctuations were increasing import levies as a result of currency devaluation, rising adoption from vital sectors, and supply restrictions. Price pressures were exacerbated by proactive stockpiling as a result of the restricted supply and strong demand.

Q2 2024:

The Asia Pacific rapeseed oil market during this period surged due to a combination of unfavorable weather and strained logistics. Unusually high temperatures and rainfall significantly impacted farm output, while rising consumption in the food and biodiesel industries further increased prices. Additionally, trade disruptions and geopolitical concerns exacerbated supply shortages, especially in India, where reduced output and local demand led to the most pronounced price increases. Seasonal factors and restricted inventories drove the market into a notably positive trend this quarter.

Q1 2024:

The prices of rapeseed oil in the Asia Pacific experienced a generally upward shift, despite an initial drop due to a strong harvest from the preceding season. Favorable weather had supported farm output, reducing the need for imports and leading to a cautious market sentiment. Traders focused on managing stocks and preparing for new supplies. Although the Indian Rupee's depreciation affected buying sentiments, a slight increase in rapeseed oil consumption emerged by February, fueled by steady supply and growing demand from the food and agriculture sectors.

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.

Rapeseed Oil Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Rapeseed Oil Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” 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 industry 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 industry, 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:

• March 2024: Bunge and Chevron announced a joint venture to construct a new oilseed processing plant in Destrehan, Louisiana. This facility, part of their Bunge Chevron Ag Renewables LLC venture, is designed to process both soybeans and softseeds, including innovative winter oilseed crops like winter canola and CoverCress. The plant is expected to begin operations in 2026 and aims to enhance the production of renewable fuel feedstocks while also supporting the feed and protein markets through meal product production.
• April 2024: Australian Oilseeds Holdings Limited announced plans to expand its operations into the United States. This expansion will be conducted through its subsidiary, Good Earth Oils, which will distribute Australian cold-pressed NON-GMO canola oil and olive oil to retailers and wholesalers across the United States.

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.

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.