Vegetable oils: excluding low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified

In 2024, vegetable oils: excluding low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified trade exhibited significant decline, with global flows reaching $268,907,181 and a three-year compound annual growth rate of +0.4% (five-year: +2.7%). The all-time peak of $548,999,517 was recorded in 2008; the current level is 51% below that high-water mark.

Over the 30-year observation window (1995–2024), 52% of years recorded positive growth, indicating a mildly upward trajectory with periodic contractions. Trend momentum is steady (+2.0% acceleration).

The supply side is diversified (Herfindahl-Hirschman Index 0.105). The three largest exporters — Germany ($73.3M), Belgium ($29.7M), and Netherlands ($28.4M) — collectively dominate supply flows. The leading exporter has grown at +6.1% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.069). The three largest import markets are France ($41.0M), Netherlands ($34.7M), and Germany ($27.8M). The largest importing market sources from 26 different supplying countries.

Estimated substitution elasticity: -8.60. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is Germany → France at $34.5M, representing 84.2% of the importer's total demand.

The volatility score for vegetable oils: excluding low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified is 10 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, contracting demand signals caution before committing resources. The diversified supply landscape means many competitors but also multiple entry points and buyer relationships to target.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.