Rapeseed Oil Market Overview in the United Arab Emirates
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.
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.