Eastern Europe: Soybean Oil Market 2024

Soybean Oil Market Size in Eastern Europe

The East European soybean oil market totaled $X in 2022, remaining relatively unchanged against the previous year. Overall, consumption, however, enjoyed a resilient increase. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Soybean Oil Production in Eastern Europe

In value terms, soybean oil production rose modestly to $X in 2022 estimated in export price. The total production indicated buoyant 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 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Soybean Oil Exports

Exports in Eastern Europe

In 2022, shipments abroad of soybean oil decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, showed resilient growth. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, soybean oil exports surged to $X in 2022. Overall, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

Russia (X tons) and Ukraine (X tons) represented roughly X% of total exports in 2022. Poland (X tons) held the next position in the ranking, followed by Belarus (X tons) and Slovakia (X tons). All these countries together held approx. X% share of total exports. Hungary (X tons) held a minor share of total exports.

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, the largest soybean oil supplying countries in Eastern Europe were Russia ($X), Ukraine ($X) and Poland ($X), with a combined X% share of total exports. Belarus, Slovakia and Hungary lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Belarus, with a CAGR of X%, saw the highest growth rate of 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

The export price in Eastern Europe stood at $X per ton in 2022, increasing by X% against the previous year. Export price indicated a notable 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, soybean oil export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to see steady growth in years to come.

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

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

Soybean Oil Imports

Imports in Eastern Europe

In 2022, purchases abroad of soybean oil decreased by X% to X tons, falling for the second year in a row after three years of growth. In general, imports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2019 with an increase of X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, soybean oil imports shrank to $X in 2022. Over the period under review, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped in the following year.

Imports by Country

Poland prevails in imports structure, amounting to X tons, which was near X% of total imports in 2022. Bulgaria (X tons) took the second position in the ranking, followed by Belarus (X tons) and the Czech Republic (X tons). All these countries together held approx. X% share of total imports. Lithuania (X tons) and Romania (X tons) followed a long way behind the leaders.

Poland was also the fastest-growing in terms of the soybean oil imports, with a CAGR of X% from 2012 to 2022. At the same time, Belarus (X%), Lithuania (X%), Romania (X%), the Czech Republic (X%) and Bulgaria (X%) displayed positive paces of growth. While the share of Poland (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the Czech Republic (X p.p.) and Bulgaria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Poland totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Bulgaria (X% per year) and the Czech Republic (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, picking up by X% against the previous year. Import price indicated mild 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, soybean oil import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Lithuania ($X per ton) and Bulgaria ($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 Lithuania (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :