Egypt: Crude Soybean Oil Market 2024

Crude Soybean Oil Market Size in Egypt

The Egyptian crude soybean oil market was finally on the rise to reach $X in 2022, after two years of decline. Overall, the total consumption indicated a resilient expansion 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. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Crude Soybean Oil Production in Egypt

In value terms, crude soybean oil production stood at $X in 2022 estimated in export price. Over the period under review, production showed noticeable growth. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Crude Soybean Oil Exports

Exports from Egypt

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. Over the period under review, exports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude soybean oil exports contracted significantly to $X in 2022. Overall, exports, however, saw strong growth. The growth pace was the most rapid in 2019 with an increase of X%. The exports peaked at $X in 2021, and then shrank significantly in the following year.

Exports by Country

Algeria (X tons) was the main destination for crude soybean oil exports from Egypt, accounting for a X% share of total exports. Moreover, crude soybean oil exports to Algeria exceeded the volume sent to the second major destination, Spain (X tons), twofold. Morocco (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Algeria stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and Morocco (X% per year).

In value terms, Algeria ($X) emerged as the key foreign market for crude soybean oil exports from Egypt, comprising X% of total exports. The second position in the ranking was held by Spain ($X), with a X% share of total exports. It was followed by Morocco, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Algeria totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and Morocco (X% per year).

Export Prices by Country

The average crude soybean oil export price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price enjoyed a modest increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Oman ($X per ton) and Algeria ($X per ton), while the average price for exports to Morocco ($X per ton) and Spain ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Soybean Oil Imports

Imports into Egypt

In 2022, the amount of crude soybean oil imported into Egypt soared to X tons, rising by X% on 2021. Over the period under review, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, crude soybean oil imports skyrocketed to $X in 2022. Overall, imports recorded prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of crude soybean oil to Egypt, accounting for a X% share of total imports. Moreover, crude soybean oil imports from Turkey exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. The third position in this ranking was held by Italy (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and Italy (X% per year).

In value terms, Turkey ($X) constituted the largest supplier of crude soybean oil to Egypt, comprising X% of total imports. The second position in the ranking was held by Russia ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Turkey totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and Italy (X% per year).

Import Prices by Country

The average crude soybean oil import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price continues to indicate a modest expansion. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and Russia ($X per ton), while the price for Italy ($X per ton) and Turkey ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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