Eastern Europe: Crude Soybean Oil Market 2024

Crude Soybean Oil Market Size in Eastern Europe

For the fifth consecutive year, the East European crude soybean oil market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption, however, posted a prominent expansion. The level of consumption peaked in 2022 and is likely to see gradual growth in the near future.

Crude Soybean Oil Production in Eastern Europe

In value terms, crude soybean oil production expanded to $X in 2022 estimated in export price. The total production indicated prominent growth 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Crude Soybean Oil Exports

Exports in Eastern Europe

In 2022, shipments abroad of crude soybean oil decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, crude soybean oil exports rose notably to $X in 2022. Over the period under review, exports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2013 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Russia (X tons) and Ukraine (X tons) were the key exporters of crude soybean oil in 2022, resulting at approx. X% and X% of total exports, respectively. Poland (X tons) ranks next in terms of the total exports with a X% share, followed by Belarus (X%) and Slovakia (X%). Hungary (X tons) followed a long way behind the leaders.

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

In value terms, Russia ($X), Ukraine ($X) and Poland ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports. Belarus, Slovakia and Hungary lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Belarus, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, jumping by X% against the previous year. Overall, the export price posted measured growth. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

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

Crude Soybean Oil Imports

Imports in Eastern Europe

In 2022, purchases abroad of crude soybean oil decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, crude soybean oil imports reduced to $X in 2022. Over the period under review, imports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

Poland prevails in imports structure, accounting for X tons, which was near X% of total imports in 2022. Bulgaria (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Belarus (X%). The Czech Republic (X tons), Lithuania (X tons) and Romania (X tons) followed a long way behind the leaders.

Imports into Poland increased at an average annual rate of X% from 2012 to 2022. At the same time, Lithuania (X%), Romania (X%), the Czech Republic (X%), Belarus (X%) and Bulgaria (X%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Poland and Lithuania increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported crude soybean oil in Eastern Europe, comprising X% of total imports. The second position in the ranking was held by Bulgaria ($X), with an X% share of total imports. It was followed by Belarus, with a X% share.

In Poland, crude soybean oil imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Bulgaria (X% per year) and Belarus (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, growing by X% against the previous year. Import 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, crude soybean oil import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Bulgaria ($X per ton) and the Czech Republic ($X per ton), while Belarus ($X per ton) and Poland ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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