Asia: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Asia

In 2022, the Asian soybean oilcake market increased by X% to $X, rising for the fifth consecutive year after five years of decline. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Soybean Oilcake Production in Asia

In value terms, soybean oilcake production totaled $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild contraction. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Soybean Oilcake Exports

Exports in Asia

In 2022, soybean oilcake exports in Asia fell notably to X tons, reducing by X% compared with the year before. Overall, exports recorded a abrupt downturn. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, soybean oilcake exports fell rapidly to $X in 2022. In general, exports showed a perceptible decline. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons) and India (X tons) represented the key exporters of soybean oilcake in 2022, resulting at near X% and X% of total exports, respectively. China (X tons) ranks next in terms of the total exports with a X% share, followed by Vietnam (X%). The United Arab Emirates (X tons), Thailand (X tons) and Malaysia (X tons) took a relatively small share of total exports.

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

In value terms, the largest soybean oilcake supplying countries in Asia were India ($X), Turkey ($X) and China ($X), with a combined X% share of total exports. Vietnam, the United Arab Emirates, Thailand and Malaysia lagged somewhat behind, together comprising a further X%.

Thailand, with a CAGR of X%, saw the highest growth rate of 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 stood at $X per ton in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the export price increased by X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in India ($X per ton) and the United Arab Emirates ($X per ton), while Vietnam ($X per ton) and Thailand ($X per ton) were amongst the lowest.

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

Soybean Oilcake Imports

Imports in Asia

In 2022, overseas purchases of soybean oilcake were finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, soybean oilcake imports skyrocketed to $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value 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, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Indonesia (X tons), Vietnam (X tons), the Philippines (X tons) and Thailand (X tons) represented roughly X% of total imports in 2022. South Korea (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Japan (X%), Turkey (X%), Malaysia (X%) and Iran (X%).

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

In value terms, Indonesia ($X), Vietnam ($X) and the Philippines ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Among 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 stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($X per ton) and Vietnam ($X per ton), while Iran ($X per ton) and South Korea ($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.

Source: IndexBox Platform

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