Canada: Crude Soybean Oil Market Overview 2021

Crude Soybean Oil Market Size in Canada

In 2020, the Canadian crude soybean oil market decreased by -X% to $X for the first time since 2015, thus ending a four-year rising trend. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. Over the period under review, the market reached the peak level at $X in 2019, and then fell in the following year.

Crude Soybean Oil Production in Canada

In value terms, crude soybean oil production dropped to $X in 2020 estimated in export prices. Over the period under review, the total production indicated a temperate increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production decreased by -X% against 2018 indices. The growth pace was the most rapid in 2010 when the production volume increased by X% y-o-y. Crude soybean oil production peaked at $X in 2011; however, from 2012 to 2020, production failed to regain the momentum.

Crude Soybean Oil Exports

Exports from Canada

In 2020, shipments abroad of crude soybean oil was finally on the rise to reach X tonnes after four years of decline. In general, exports continue to indicate noticeable growth. The pace of growth was the most pronounced in 2015 with an increase of X% y-o-y. As a result, exports reached the peak of X tonnes. From 2016 to 2020, the growth exports remained at a lower figure.

In value terms, crude soybean oil exports soared to $X in 2020. Overall, exports posted a tangible increase. Exports peaked at $X in 2015; however, from 2016 to 2020, exports stood at a somewhat lower figure.

Exports by Country

The U.S. (X tonnes) was the main destination for crude soybean oil exports from Canada, accounting for a approx. X% share of total exports.

From 2007 to 2020, the average annual growth rate of volume to the U.S. totaled +X%.

In value terms, the U.S. ($X) also remains the key foreign market for crude soybean oil exports from Canada.

From 2007 to 2020, the average annual rate of growth in terms of value to the U.S. amounted to +X%.

Export Prices by Country

In 2020, the average crude soybean oil export price amounted to $X per tonne, shrinking by -X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2010 when the average export price increased by X% against the previous year. Over the period under review, average export prices reached the maximum at $X per tonne in 2011; however, from 2012 to 2020, export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the U.S..

From 2007 to 2020, the rate of growth in terms of prices for the U.S. amounted to -X% per year.

Crude Soybean Oil Imports

Imports into Canada

In 2020, approx. X tonnes of crude soybean oil were imported into Canada; picking up by X% compared with 2019. In general, imports, however, faced a abrupt slump. The growth pace was the most rapid in 2018 with an increase of X% year-to-year. Over the period under review, imports attained the peak figure at X tonnes in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

In value terms, crude soybean oil imports soared to $X in 2020. Over the period under review, imports, however, continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2018 with an increase of X% year-to-year. Over the period under review, imports attained the peak figure at $X in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, the U.S. (X tonnes) constituted the largest crude soybean oil supplier to Canada, with a X% share of total imports. Moreover, crude soybean oil imports from the U.S. exceeded the figures recorded by the second-largest supplier, India (X tonnes), fivefold.

From 2007 to 2020, the average annual rate of growth in terms of volume from the U.S. amounted to -X%.

In value terms, the U.S. ($X) constituted the largest supplier of crude soybean oil to Canada, comprising X% of total imports. The second position in the ranking was occupied by India ($X), with a X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of value from the U.S. stood at -X%.

Import Prices by Country

The average crude soybean oil import price stood at $X per tonne in 2020, approximately equating the previous year. Overall, import price indicated perceptible growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, crude soybean oil import price increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% y-o-y. The import price peaked at $X per tonne in 2012; however, from 2013 to 2020, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2020, the country with the highest price was India ($X per tonne), while the price for the U.S. totaled $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the U.S..

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude soybean oil in the world?

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The countries with the highest volumes of crude soybean oil consumption in 2020 were China (4.6M tonnes), India (3.6M tonnes) and the U.S. (2.3M tonnes), with a combined 34% share of global consumption.

What are the largest producers of crude soybean oil in the world?

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The countries with the highest volumes of crude soybean oil production in 2020 were China (3.7M tonnes), the U.S. (3.3M tonnes) and Argentina (3.3M tonnes), together comprising 36% of global production.

What are the leading suppliers of crude soybean oil to Canada?

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In value terms, the U.S. ($1.2M) constituted the largest supplier of crude soybean oil to Canada, comprising 84% of total imports. The second position in the ranking was occupied by India ($228K), with a 16% share of total imports.

What are the leading importers of crude soybean oil from Canada?

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In value terms, the U.S. ($12M) remains the key foreign market for crude soybean oil exports from Canada.

What is the average export price for crude soybean oil in Canada?

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The average crude soybean oil export price stood at $690 per tonne in 2020, with a decrease of -5.2% against the previous year.

What is the average import price for crude soybean oil in Canada?

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In 2020, the average crude soybean oil import price amounted to $1,112 per tonne, leveling off at the previous year.