Egypt: Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size in Egypt

After four years of decline, the Egyptian refined soybean oil market increased by X% to $X in 2022. Overall, consumption recorded mild growth. Refined soybean oil consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Refined Soybean Oil Production in Egypt

In value terms, refined soybean oil production reached $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

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Refined Soybean Oil Exports

Exports from Egypt

In 2022, shipments abroad of refined soybean oil and its fractions decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports showed a pronounced decrease. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then fell sharply in the following year.

In value terms, refined soybean oil exports fell dramatically to $X in 2022. In general, exports saw a mild downturn. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then contracted notably in the following year.

Exports by Country

Jordan (X tons), Syrian Arab Republic (X tons) and Mauritius (X tons) were the main destinations of refined soybean oil exports from Egypt, with a combined X% share of total exports. Madagascar, Oman, Ghana, Libya, Lebanon, Rwanda, the United Arab Emirates, Palestine and Kuwait lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Rwanda (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for refined soybean oil exported from Egypt were Jordan ($X), Syrian Arab Republic ($X) and Mauritius ($X), together accounting for X% of total exports. Madagascar, Oman, Ghana, Libya, Lebanon, Rwanda, the United Arab Emirates, Palestine and Kuwait lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Rwanda, 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

The average refined soybean oil export price stood at $X per ton in 2022, jumping by X% against the previous year. In general, export price indicated a mild 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 2021 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Mauritius ($X per ton) and Oman ($X per ton), while the average price for exports to Kuwait ($X per ton) and Syrian Arab Republic ($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 Madagascar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Soybean Oil Imports

Imports into Egypt

For the third year in a row, Egypt recorded decline in purchases abroad of refined soybean oil and its fractions, which decreased by X% to X tons in 2022. Over the period under review, imports, however, recorded resilient growth. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, refined soybean oil imports declined significantly to $X in 2022. In general, imports, however, showed significant growth. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Saudi Arabia (X tons) and the Netherlands (X tons) were the main suppliers of refined soybean oil imports to Egypt.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, the largest refined soybean oil suppliers to Egypt were Germany ($X), Saudi Arabia ($X) and the Netherlands ($X).

Among the main suppliers, Saudi Arabia, 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 a decline.

Import Prices by Country

In 2022, the average refined soybean oil import price amounted to $X per ton, jumping by X% against the previous year. Overall, the import price recorded a slight increase. The pace of growth was the most pronounced in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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