China - Refined Soybean Oil And Its Fractions - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRefined Soybean Oil Price in China - 2023
Contents:
- Refined Soybean Oil Price in China (FOB) - 2023
- Refined Soybean Oil Price in China (CIF) - 2023
- Refined Soybean Oil Exports in China
- Refined Soybean Oil Imports in China
Refined Soybean Oil Price in China (FOB) - 2023
In September 2023, the average refined soybean oil export price amounted to $1,286 per ton, with an increase of 2.7% against the previous month. Overall, the export price, however, saw a perceptible reduction. The pace of growth was the most pronounced in May 2023 when the average export price increased by 4% m-o-m. Over the period under review, the average export prices hit record highs at $1,632 per ton in September 2022; however, from October 2022 to September 2023, the export prices remained at a lower figure.
Average prices varied somewhat for the major export markets. In September 2023, the countries with the highest prices were New Zealand ($1,473 per ton) and South Korea ($1,436 per ton), while the average price for exports to Malaysia ($1,124 per ton) and Vietnam ($1,223 per ton) were amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+2.5%), while the prices for the other major destinations experienced a decline.
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Refined Soybean Oil Price in China (CIF) - 2023
In September 2023, the average refined soybean oil import price amounted to $941 per ton, surging by 18% against the previous month. Overall, the import price, however, recorded a noticeable reduction. The growth pace was the most rapid in October 2022 an increase of 25% m-o-m. As a result, import price attained the peak level of $1,812 per ton. From November 2022 to September 2023, the average import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for Russia.
From September 2022 to September 2023, the rate of growth in terms of prices for Russia amounted to -3.5% per month.
Refined Soybean Oil Exports in China
In 2022, shipments abroad of refined soybean oil and its fractions increased by 106% to 87K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a sharp curtailment.
In value terms, refined soybean oil exports skyrocketed to $139M in 2022. Overall, exports, however, recorded a abrupt downturn.
| Export of Refined Soybean Oil in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 2.8 | 5.3 | 1.5 | 20.5 | 94.2% |
| South Korea | 0.5 | 0.5 | 11.0 | 8.4 | 156.1% |
| Singapore | 2.7 | 3.1 | 4.2 | 3.9 | 13.0% |
| Philippines | N/A | N/A | N/A | 2.3 | 0% |
| United Arab Emirates | N/A | N/A | N/A | 1.5 | 0% |
| Myanmar | N/A | N/A | N/A | 1.3 | 0% |
| Mongolia | 1.0 | 1.1 | 1.4 | 1.2 | 6.3% |
| Hong Kong SAR | 36.4 | N/A | N/A | N/A | 0% |
| Venezuela | 13.6 | N/A | N/A | N/A | 0% |
| Democratic People's Republic of Korea | 115 | N/A | N/A | N/A | 0% |
| Others | 0.9 | 76.5 | 38.1 | 99.7 | 380.3% |
| Total | 173 | 86.5 | 56.3 | 139 | -7.0% |
Top Export Markets for Refined Soybean Oil from China in 2022:
- Malaysia (12.2K tons)
- South Korea (5.0K tons)
- Singapore (2.2K tons)
- Philippines (1.6K tons)
- United Arab Emirates (0.9K tons)
- Myanmar (0.8K tons)
- Mongolia (0.7K tons)
Refined Soybean Oil Imports in China
In 2022, approx. 12K tons of refined soybean oil and its fractions were imported into China; falling by -12.1% against the previous year's figure. Overall, imports continue to indicate a sharp descent.
In value terms, refined soybean oil imports fell slightly to $17M in 2022. Over the period under review, imports recorded a deep contraction.
| Import of Refined Soybean Oil in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 20.1 | 13.7 | 12.4 | 14.9 | -9.5% |
| Vietnam | 1.2 | 1.7 | 1.4 | 1.2 | 0.0% |
| Sweden | 1.0 | 0.6 | 1.2 | 0.7 | -11.2% |
| Others | 1.3 | 2.6 | 2.1 | 0.4 | -32.5% |
| Total | 23.6 | 18.6 | 17.2 | 17.1 | -10.2% |
Top Suppliers of Refined Soybean Oil to China in 2022:
- Russia (10.6K tons)
- Vietnam (0.6K tons)
- Sweden (0.3K tons)
This report provides an in-depth analysis of the refined soybean oil market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10415100 - Refined soya-bean oil and its fractions (excluding chemically modified)
Country coverage:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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Soybean Oil imports experienced a remarkable growth rate of 1,253% month-over-month in November 2022, reaching a value of $39M in September 2023.
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In February 2023 the price for crude soybean oil was $1,309 per ton (CIF, China), a decrease of -1.6% compared to the prior month.
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In 2022, soybean oil prices are forecast to rise by nearly 4% to $1,425 per ton, driven by boosting demand for biofuels. In 2021, the average annual soybean oil price skyrocketed, rising 65% y-o-y to $1,385 per ton. India remains the world’s largest soybean oil importer, while Argentina holds the position of the leading global supplier.
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The soybean oil market indicates steady growth, despite the COVID-19 pandemic cut demand for biofuel. The competitive price of soybean oil, against the price for sunflower and palm oil, combined with the potential growth in demand for biofuels and increasingly robust environmental standards, signal tangible prospects for the further development of the soybean oil market.
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Global soybean oil consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
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Global soybean oil exports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
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Global soybean oil imports amounted to X thousand tons in 2015, jumping by +X% against the previous year level.
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In 2015, the countries with the highest levels of production were China (X thousand tons), the United States (X thousand tons), Brazil (X thousand tons), together accounting for X% of total output.
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Argentina leads the way in the global soya-bean oil trade. In 2014, Argentina exported X thousand tons of soya-bean oil totaling X million USD, X% under the previous year. Its primary trading partner was India, where it supplied X% of its t
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