Asia-Pacific: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Asia-Pacific

In 2023, the Asia-Pacific soybean oilcake market decreased by X% to $X, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Soybean Oilcake Production in Asia-Pacific

In value terms, soybean oilcake production rose to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Soybean Oilcake Exports

Exports in Asia-Pacific

In 2023, approx. X tons of soybean oilcake were exported in Asia-Pacific; surging by X% on the previous year. Overall, exports, however, recorded a pronounced curtailment. The volume of export peaked at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, soybean oilcake exports surged to $X in 2023. In general, exports, however, saw a pronounced slump. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

India represented the main exporter of soybean oilcake in Asia-Pacific, with the volume of exports reaching X tons, which was near X% of total exports in 2023. It was distantly followed by China (X tons), creating a X% share of total exports. Vietnam (X tons), Thailand (X tons) and Malaysia (X tons) followed a long way behind the leaders.

Exports from India decreased at an average annual rate of X% from 2012 to 2023. At the same time, Thailand (X%), Vietnam (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2023. By contrast, China (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Vietnam, Thailand and China increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest soybean oilcake supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2023, the average annual growth rate of value in India totaled X%. In the other countries, the average annual rates were as follows: China (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2023, the export price in Asia-Pacific amounted to $X per ton, which is down by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of export peaked at $X per ton in 2022, and then declined markedly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Thailand ($X per ton) and Malaysia ($X per ton), while Vietnam ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced more modest paces of growth.

Soybean Oilcake Imports

Imports in Asia-Pacific

In 2023, purchases abroad of soybean oilcake decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2022, and then dropped slightly in the following year.

In value terms, soybean oilcake imports dropped to $X in 2023. Total imports indicated a pronounced expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2021 when imports increased by X%. The level of import peaked at $X in 2022, and then declined in the following year.

Imports by Country

Indonesia (X tons) and Vietnam (X tons) represented the key importers of soybean oilcake in 2023, finishing at near X% and X% of total imports, respectively. Thailand (X tons) ranks next in terms of the total imports with a X% share, followed by the Philippines (X%), South Korea (X%), Japan (X%) and Malaysia (X%).

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest soybean oilcake importing markets in Asia-Pacific were Indonesia ($X), Vietnam ($X) and Thailand ($X), together comprising X% of total imports. The Philippines, Japan, South Korea and Malaysia lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, the Philippines, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Japan ($X per ton) and the Philippines ($X per ton), while Vietnam ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform