Belgium - Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSoybean Oil Price in Belgium - 2023
Contents:
- Soybean Oil Price in Belgium (CIF) - 2023
- Soybean Oil Price in Belgium (FOB) - 2023
- Soybean Oil Imports in Belgium
- Soybean Oil Exports in Belgium
Soybean Oil Price in Belgium (CIF) - 2023
In July 2023, the average soybean oil import price amounted to $1,230 per ton, with an increase of 24% against the previous month. Overall, the import price, however, showed a perceptible contraction. The import price peaked at $1,657 per ton in November 2022; however, from December 2022 to July 2023, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was France ($1,514 per ton), while the price for the Netherlands stood at $1,224 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Hungary (-0.0%), while the prices for the other major suppliers experienced a decline.
Soybean Oil Price in Belgium (FOB) - 2023
The average soybean oil export price stood at $985 per ton in July 2023, which is down by -42.4% against the previous month. Overall, the export price recorded a noticeable downturn. The growth pace was the most rapid in September 2022 an increase of 24% month-to-month. The export price peaked at $2,092 per ton in January 2023; however, from February 2023 to July 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In July 2023, the country with the highest price was Ireland ($2,422 per ton), while the average price for exports to Algeria ($929 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Ireland (+2.6%), while the prices for the other major destinations experienced mixed trend patterns.
Soybean Oil Imports in Belgium
In 2022, purchases abroad of soybean oil decreased by -24.9% to 90K tons, falling for the second year in a row after two years of growth. In general, imports saw a pronounced downturn. The pace of growth was the most pronounced in 2020 when imports increased by 33%. As a result, imports reached the peak of 135K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, soybean oil imports rose slightly to $139M in 2022. Over the period under review, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +20.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.9% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 41% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.
| Import of Soybean Oil in Belgium (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 63.7 | 92.3 | 117 | 111 | 20.3% |
| Hungary | 6.4 | 6.4 | 8.3 | 9.0 | 12.0% |
| United Kingdom | N/A | N/A | 0.1 | 6.4 | 6300.0% |
| Germany | 4.0 | 5.4 | 5.0 | 3.4 | -5.3% |
| Poland | N/A | N/A | N/A | 3.2 | 0% |
| France | 2.8 | 3.7 | 3.6 | 0.9 | -31.5% |
| Others | 1.7 | 3.2 | 0.8 | 5.2 | 45.2% |
| Total | 78.5 | 111 | 135 | 139 | 21.0% |
Top Suppliers of Soybean Oil to Belgium in 2022:
- Netherlands (73.3K tons)
- Hungary (6.0K tons)
- United Kingdom (3.5K tons)
- Poland (2.1K tons)
- Germany (1.8K tons)
- France (0.5K tons)
Soybean Oil Exports in Belgium
In 2022, shipments abroad of soybean oil decreased by -18.3% to 33K tons, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a noticeable shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 97% against the previous year. As a result, the exports attained the peak of 73K tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, soybean oil exports rose slightly to $55M in 2022. Overall, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +13.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -22.0% against 2020 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 88%. As a result, the exports attained the peak of $71M. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Soybean Oil in Belgium (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Algeria | N/A | N/A | N/A | 16.7 | 0% |
| United Kingdom | 4.1 | 4.5 | 4.3 | 9.4 | 31.9% |
| Netherlands | 4.2 | 7.9 | 5.7 | 9.1 | 29.4% |
| France | 3.9 | 3.0 | 4.8 | 6.3 | 17.3% |
| Ireland | 4.5 | 6.2 | 4.5 | 3.5 | -8.0% |
| Cyprus | 0.6 | 1.0 | 1.0 | 2.1 | 51.8% |
| Spain | 1.3 | 2.1 | 1.9 | 1.2 | -2.6% |
| South Korea | 7.0 | 22.0 | 11.9 | N/A | 30.4% |
| China | N/A | 2.7 | 8.2 | N/A | 203.7% |
| Cabo Verde | 1.8 | 1.5 | N/A | N/A | -16.7% |
| Tunisia | N/A | 3.4 | N/A | N/A | 0% |
| Angola | 3.3 | 3.3 | 1.9 | N/A | -24.1% |
| Others | 6.9 | 13.0 | 9.1 | 6.8 | -0.5% |
| Total | 37.6 | 70.5 | 53.2 | 55.0 | 13.5% |
Top Export Markets for Soybean Oil from Belgium in 2022:
- South Korea (undefinedK tons)
- Algeria (11.5K tons)
- United Kingdom (6.1K tons)
- Netherlands (5.5K tons)
- France (3.2K tons)
- Ireland (1.9K tons)
- Cyprus (1.1K tons)
- Spain (0.6K tons)
This report provides an in-depth analysis of the soybean oil market in Belgium. 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:
- FCL 237 - Oil of Soybeans
Country coverage:
- Belgium
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Belgium
- 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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This report provides an in-depth analysis of the soybean oil market in Belgium.
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This report provides an in-depth analysis of the soybean oil market in Belgium.
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This report provides an in-depth analysis of the soybean oil market in Belgium.
1283
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.
1019
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 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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1283
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.
1019
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.
