Czech Republic: Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size in the Czech Republic

The Czech refined soybean oil market dropped modestly to $X in 2022, stabilizing at the previous year. Overall, consumption saw a abrupt slump. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Refined Soybean Oil Production in the Czech Republic

In value terms, refined soybean oil production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt setback. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Refined soybean oil production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Refined Soybean Oil Exports

Exports from the Czech Republic

In 2022, shipments abroad of refined soybean oil and its fractions was finally on the rise to reach X tons after two years of decline. Overall, exports saw a noticeable expansion. The pace of growth appeared the most rapid in 2019 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, refined soybean oil exports soared to $X in 2022. In general, exports enjoyed a prominent increase. The pace of growth was the most pronounced in 2019 with an increase of X%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Poland (X tons) was the main destination for refined soybean oil exports from the Czech Republic, with a X% share of total exports. Moreover, refined soybean oil exports to Poland exceeded the volume sent to the second major destination, the Netherlands (X tons), fourfold. Slovakia (X tons) ranked third in terms of total exports with an X% share.

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

In value terms, Poland ($X) remains the key foreign market for refined soybean oil and its fractions exports from the Czech Republic, comprising X% of total exports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total exports. It was followed by Slovakia, with an X% share.

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

Export Prices by Country

The average refined soybean oil export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, export price indicated a modest 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 2019 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Poland ($X per ton) and Slovakia ($X per ton), while the average price for exports to the UK ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

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

Refined Soybean Oil Imports

Imports into the Czech Republic

In 2022, purchases abroad of refined soybean oil and its fractions was finally on the rise to reach X tons after two years of decline. Overall, imports, however, showed a pronounced downturn. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, refined soybean oil imports surged to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Sweden (X tons) were the main suppliers of refined soybean oil imports to the Czech Republic, together accounting for X% of total imports.

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

In value terms, Germany ($X), the Netherlands ($X) and Sweden ($X) constituted the largest refined soybean oil suppliers to the Czech Republic, together comprising X% of total imports.

Among the main suppliers, Sweden, with a CAGR of X%, recorded the highest rates of growth with regard to 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 average refined soybean oil import price stood at $X per ton in 2022, jumping by X% against the previous year. In general, import price indicated measured 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 import price increased by X% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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