Austria: Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size in Austria

The Austrian refined soybean oil market declined to $X in 2022, falling by X% against the previous year. Over the period under review, consumption showed a abrupt downturn. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Refined Soybean Oil Production in Austria

In value terms, refined soybean oil production fell slightly to $X in 2022 estimated in export price. In general, production continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Refined Soybean Oil Exports

Exports from Austria

In 2022, the amount of refined soybean oil and its fractions exported from Austria rose notably to X tons, picking up by X% on the previous year. In general, exports continue to indicate significant growth. The growth pace was the most rapid in 2013 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, refined soybean oil exports surged to $X in 2022. Overall, exports showed a significant increase. The growth pace was the most rapid in 2013 when exports increased by X%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The Philippines (X tons) was the main destination for refined soybean oil exports from Austria, accounting for a X% share of total exports. Moreover, refined soybean oil exports to the Philippines exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. France (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Philippines stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and France (X% per year).

In value terms, the Philippines ($X) emerged as the key foreign market for refined soybean oil and its fractions exports from Austria, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the Philippines amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average refined soybean oil export price amounted to $X per ton, growing by X% against the previous year. In general, export price indicated a tangible 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 export price increased by X% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Soybean Oil Imports

Imports into Austria

For the third consecutive year, Austria recorded decline in supplies from abroad of refined soybean oil and its fractions, which decreased by X% to X tons in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, refined soybean oil imports contracted rapidly to $X in 2022. In general, imports, however, saw strong growth. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then reduced dramatically in the following year.

Imports by Country

In 2022, Sweden (X tons) constituted the largest supplier of refined soybean oil to Austria, accounting for a X% share of total imports. Moreover, refined soybean oil imports from Sweden exceeded the figures recorded by the second-largest supplier, Bosnia and Herzegovina (X tons), fourfold. Poland (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Sweden stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Bosnia and Herzegovina (X% per year) and Poland (X% per year).

In value terms, Sweden ($X) constituted the largest supplier of refined soybean oil and its fractions to Austria, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Bosnia and Herzegovina, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Sweden amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Bosnia and Herzegovina (X% per year).

Import Prices by Country

In 2022, the average refined soybean oil import price amounted to $X per ton, with a decrease of X% against the previous year. In general, import price indicated a strong increase 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 decreased by X% against 2014 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. The import price peaked at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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