Rapeseed Oil Market Overview in the United Kingdom
In value terms, rapeseed oil production declined to $ in 2019 estimated in export prices. The total output value increased at an average annual rate of +% from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2009 with an increase of % against the previous year. Over the period under review, production reached the maximum level at $ in 2018, and then dropped modestly in the following year.
The size of the rapeseed oil market in the UK shrank to $ in 2019, dropping 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, the total consumption indicated a buoyant 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, consumption decreased by -% against 2017 indices. The pace of growth appeared the most rapid in 2008 when the market value increased by % year-to-year. The UK consumption peaked at $ in 2017; however, from 2018 to 2019, consumption stood at a somewhat lower figure.