Rapeseed Oil Market Overview in the United Arab Emirates
Market Overview
In 2019, after two years of growth, there was significant decline in the rapeseed oil market in the United Arab Emirates, when its value decreased by -
% to $. Overall, consumption, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2018 when the market value increased by % y-o-y. As a result, consumption reached the peak level of $, and then declined dramatically in the following year.
In value terms, rapeseed oil production skyrocketed to $ in 2019 estimated in export prices. Overall, the total production indicated a prominent increase from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +% against 2015 indices. The most prominent rate of growth was recorded in 2008 with an increase of % year-to-year. Over the period under review, production attained the maximum level at $ in 2011; however, from 2012 to 2019, production failed to regain the momentum.
% to $. Overall, consumption, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2018 when the market value increased by % y-o-y. As a result, consumption reached the peak level of $, and then declined dramatically in the following year.In value terms, rapeseed oil production skyrocketed to $
in 2019 estimated in export prices. Overall, the total production indicated a prominent increase from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +% against 2015 indices. The most prominent rate of growth was recorded in 2008 with an increase of % year-to-year. Over the period under review, production attained the maximum level at $ in 2011; however, from 2012 to 2019, production failed to regain the momentum.Consumption
In 2019, after two years of growth, there was significant decline in consumption of rapeseed oil, when its volume decreased by -% to tonnes. Overall, consumption, however, saw a strong increase. The most prominent rate of growth was recorded in 2018 when the consumption volume increased by % year-to-year. As a result, consumption attained the peak volume of tonnes, and then shrank markedly in the following year.
The size of the rapeseed oil market in the United Arab Emirates declined dramatically to $ in 2019, which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2018 when the market value increased by % year-to-year. As a result, consumption attained the peak level of $, and then reduced remarkably in the following year.
% to tonnes. Overall, consumption, however, saw a strong increase. The most prominent rate of growth was recorded in 2018 when the consumption volume increased by % year-to-year. As a result, consumption attained the peak volume of tonnes, and then shrank markedly in the following year.The size of the rapeseed oil market in the United Arab Emirates declined dramatically to $
in 2019, which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2018 when the market value increased by % year-to-year. As a result, consumption attained the peak level of $, and then reduced remarkably in the following year.Market Forecast
Driven by increasing demand for rapeseed oil in the United Arab Emirates, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .
% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .Market Structure
In 2019, the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review.
% in value terms and % in physical terms. The share of imports remained relatively constant over the period under review.Trade Balance
This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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