Asia-Pacific: Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size in Asia-Pacific

The Asia-Pacific refined soybean oil market declined to $X in 2022, with a decrease of X% against the previous year. In general, consumption recorded a pronounced decrease. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Refined Soybean Oil Production in Asia-Pacific

In value terms, refined soybean oil production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable descent. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Refined Soybean Oil Exports

Exports in Asia-Pacific

After three years of decline, shipments abroad of refined soybean oil and its fractions increased by X% to X tons in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined soybean oil exports soared to $X in 2022. In general, exports continue to indicate a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Malaysia (X tons), Thailand (X tons), China (X tons) and Nepal (X tons) was the major exporter of refined soybean oil and its fractions in Asia-Pacific, creating X% of total export. The following exporters - Taiwan (Chinese) (X tons), India (X tons) and Vietnam (X tons) - together made up X% of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest refined soybean oil supplying countries in Asia-Pacific were Malaysia ($X), Nepal ($X) and Thailand ($X), with a combined X% share of total exports. China, Taiwan (Chinese), India and Vietnam lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, picking up by X% against the previous year. Export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined soybean oil export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Nepal ($X per ton) and India ($X per ton), while China ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Refined Soybean Oil Imports

Imports in Asia-Pacific

After five years of growth, purchases abroad of refined soybean oil and its fractions decreased by X% to X tons in 2022. Overall, imports, however, posted prominent growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then shrank sharply in the following year.

In value terms, refined soybean oil imports shrank rapidly to $X in 2022. Over the period under review, imports, however, saw a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then plummeted in the following year.

Imports by Country

The countries with the highest levels of refined soybean oil imports in 2022 were India (X tons), the Philippines (X tons), Democratic People's Republic of Korea (X tons), Hong Kong SAR (X tons), South Korea (X tons) and Indonesia (X tons), together finishing at X% of total import. It was distantly followed by Australia (X tons) and Malaysia (X tons), together generating a X% share of total imports. Vietnam (X tons), Singapore (X tons), Fiji (X tons), China (X tons) and New Zealand (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refined soybean oil importing markets in Asia-Pacific were India ($X), the Philippines ($X) and Hong Kong SAR ($X), with a combined X% share of total imports.

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

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, surging by X% against the previous year. Import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined soybean oil import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, import prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :