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 HSBC India Manufacturing Purchasing Managers' Index exceeded initial projections, climbing from January's 56.5 to 56.9.
The latest report by IMARC Group, titled "Rapeseed Oil Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data" delivers a comprehensive analysis of rapeseed oil prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Rapeseed Oil Prices December 2023:
- India: 1127 USD/MT (Jun 23)
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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- Q4 2023
The market for rapeseed oil is impacted by growing consumer knowledge of the oil's health advantages over other cooking oils, including its high content of unsaturated fats and omega-3 fatty acids. The need for rapeseed oil as a flexible ingredient in a variety of culinary products, such as sauces, dressings, and baked goods, is also being driven by the growing food sector, especially in areas like North America and Europe. Furthermore, since rapeseed oil is one of the main feedstocks used to produce biodiesel, the market for this product is expanding due to the growing need for biofuels as a sustainable energy source. The growth of the market is also being aided by advantageous government policies and subsidies that encourage the production of rapeseed for fuel and food.
Rapeseed Oil Market Analysis
The global rapeseed oil market 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. Throughout the fourth quarter of 2023 in North America, the trajectory of rapeseed oil prices followed the market trend observed in the European region. Initially, commencing from October 2023, prices saw a downturn due to reduced purchasing activity and ample availability within the domestic market. Despite being a cost-effective choice, the decline in prices of other edible oils, such as Sunflower oil, intensified competition, keeping rapeseed oil prices suppressed. This pattern persisted until the latter weeks of December when prices began to moderately rebound amid the fourth quarter. Whereas, throughout the fourth quarter of 2023 in the APAC region, numerous factors played a pivotal role in shaping the rapeseed oil market and influencing price fluctuations. In October 2023, rapeseed oil prices witnessed an upward trajectory in the Indian market, fueled by heightened demand during the festival season, which typically spans from September to November. This rise in demand, customary during festivals, led to increased downstream purchasing activity from retailers and suppliers to manufacturers.
A number of factors caused the price of rapeseed oil to fluctuate throughout the European region during the fourth quarter of 2023. Prices first dropped significantly in Germany, primarily as a result of decreased local use. The euro's strengthening against the US dollar was one factor contributing to local buyers' reluctance to accept higher prices. The conditions of the economy and the emergence of substitute edible oils affected the demand of major importers for rapeseed oil. However, November 2023 witnessed a significant spike in the price of rapeseed oil because of a complex mix of factors such as declining input cost inflation, exchange rate stabilization, declining production cost inflation, and a bright future with rising new orders.
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Key Points Covered in the Rapeseed Oil Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Rapeseed Oil Prices
- Rapeseed Oil Price Forecast
- Rapeseed Oil Demand & Supply
- Rapeseed Oil Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Rapeseed Oil Price Analysis
- Rapeseed Oil Industry Drivers, Restraints, and Opportunities
- Rapeseed Oil News and Recent developments
- Global Event Analysis
- List of Key Players
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
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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