Eastern Asia: Crude Soybean Oil Market 2024

Crude Soybean Oil Market Size in Eastern Asia

The East Asian crude soybean oil market shrank to $X in 2022, falling by X% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Crude Soybean Oil Production in Eastern Asia

In value terms, crude soybean oil production reduced to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Crude Soybean Oil Exports

Exports in Eastern Asia

Crude soybean oil exports fell rapidly to X tons in 2022, waning by X% compared with the previous year's figure. In general, exports saw a perceptible decrease. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. 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, crude soybean oil exports dropped modestly to $X in 2022. Overall, exports recorded a noticeable shrinkage. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China represented the largest exporting country with an export of about X tons, which finished at X% of total exports. It was distantly followed by Taiwan (Chinese) (X tons), generating a X% share of total exports. Japan (X tons) took a minor share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of crude soybean oil. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Japan (X%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (X p.p.) and China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest crude soybean oil supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total exports.

In China, crude soybean oil exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and Japan (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced a decline in the export price figures.

Crude Soybean Oil Imports

Imports in Eastern Asia

After three years of growth, supplies from abroad of crude soybean oil decreased by X% to X tons in 2022. Over the period under review, imports faced a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, crude soybean oil imports dropped rapidly to $X in 2022. In general, imports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons) and South Korea (X tons) dominates imports structure, together comprising X% of total imports. Democratic People's Republic of Korea (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Democratic People's Republic of Korea (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, South Korea ($X), China ($X) and Democratic People's Republic of Korea ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

South Korea, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Import price indicated a slight 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, crude soybean oil import price increased by X% against 2019 indices. As a result, import price attained the peak level 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 South Korea ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :