Rapeseed Oil Prices in India
- India: 1127 USD/MT (Jun 23)
In December of Q4 2023, rapeseed oil in India hit $1127 per metric ton.
The latest report by IMARC Group, titled "Rapeseed Oil Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of rapeseed oil prices. This report delves into globally, presenting a detailed analysis, along with informative price chart. Through comprehensive price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
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The study delves into the factors affecting rapeseed oil price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Rapeseed Oil Price Trend- Last Quarter
The global market for cooking oils is being driven by the growing demand for healthier options, such as rapeseed oil, which has a high omega-3 fatty acid content and is low in saturated fat. This shift in consumer preference is being driven by heart health awareness and the desire for plant-based oils over animal fats. Additionally, the growing biodiesel industry is playing a major role in the market growth, as rapeseed oil is a preferred feedstock because of its high oil content and favorable environmental profile; the rise in biofuel mandates in several countries is further supporting this demand. Lastly, the market appeal of rapeseed oil is further enhanced by its versatility in food processing, cosmetics, and industrial applications. Market dynamics are also being improved by the growing export and production capacities of key producing nations like the European Union and Canada.
Rapeseed Oil Industry Analysis
In Q2 2024, there were significant swings in the U.S. rapeseed oil market due to a lack of inventory and rising regional demand. Due to a shortage of inventory, prices increased in April, however the effect was somewhat offset by lower freight costs. A steep drop in price occurred in May because of growing competition from other edible oils and a reduction in global demand. June, however, saw a reversal of the trend, with prices rising once more because of increased demand from the food and biodiesel industries as well as worldwide supply restrictions. Prices for rapeseed oil in the Asia-Pacific area rose in Q2 2024 because of unfavorable weather, lower crop yields, and constrained supply chains. India's market was particularly hard hit, with prices shooting up because of weaker output and higher domestic consumption.
A 9% price increase from the previous quarter was caused by supply being further restricted by geopolitical tensions and trade disruptions. With limited supply and robust demand without significant plant shutdowns upsetting the stability of the market, the price in India at the conclusion of the quarter was USD 1415.47/MT. Prices for rapeseed oil in Europe increased gradually in Q2 2024, especially in Germany where yields were affected by weather-related disruptions and seasonal reasons. The food and biodiesel industries' robust demand, geopolitical unpredictability, and restricting supply all contributed to a 5% price increase during the quarter. The rising trend was further aided by the ongoing increase in the price of other vegetable oils. Prices in Germany reached USD 1038/MT FOB Hamburg by the end of Q2, indicating a favorable pricing environment.
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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