Europe: Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size in Europe

In 2022, the Europe refined soybean oil market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption continues to indicate a mild reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Refined Soybean Oil Production in Europe

In value terms, refined soybean oil production dropped to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Refined Soybean Oil Exports

Exports in Europe

Refined soybean oil exports reached X tons in 2022, remaining stable against the previous year's figure. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 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 remained at a lower figure.

In value terms, refined soybean oil exports surged to $X in 2022. Overall, exports saw a temperate increase. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

The Netherlands dominates exports structure, reaching X tons, which was approx. X% of total exports in 2022. Germany (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Portugal (X%), France (X%), Spain (X%) and Russia (X%). Italy (X tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to refined soybean oil exports from the Netherlands stood at X%. At the same time, France (X%) and Italy (X%) displayed positive paces of growth. Moreover, France emerged as the fastest-growing exporter exported in Europe, with a CAGR of X% from 2012-2022. Russia experienced a relatively flat trend pattern. By contrast, Germany (X%), Portugal (X%) and Spain (X%) illustrated a downward trend over the same period. While the share of the Netherlands (X p.p.), France (X p.p.) and Italy (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Portugal (X p.p.), Germany (X p.p.) and Spain (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest refined soybean oil supplier in Europe, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by Portugal, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the Netherlands amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (X% per year) and Portugal (X% per year).

Export Prices by Country

In 2022, the export price in Europe amounted to $X per ton, rising by X% against the previous year. Export 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, refined 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. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Portugal ($X per ton) and Spain ($X per ton), while the Netherlands ($X per ton) and Russia ($X per ton) were amongst the lowest.

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

Refined Soybean Oil Imports

Imports in Europe

Refined soybean oil imports surged to X tons in 2022, rising by X% compared with the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, refined soybean oil imports soared to $X in 2022. Overall, imports enjoyed a noticeable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the UK (X tons) was the main importer of refined soybean oil and its fractions, committing X% of total imports. Belgium (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Spain (X%), Germany (X%), Ireland (X%), Italy (X%) and the Netherlands (X%).

From 2012 to 2022, average annual rates of growth with regard to refined soybean oil imports into the UK stood at X%. At the same time, Italy (X%), Spain (X%), Ireland (X%) and Germany (X%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing importer imported in Europe, with a CAGR of X% from 2012-2022. By contrast, Belgium (X%) and the Netherlands (X%) illustrated a downward trend over the same period. While the share of Spain (X p.p.), Germany (X p.p.), Ireland (X p.p.), Italy (X p.p.) and the UK (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the Netherlands (X p.p.) and Belgium (X p.p.) displayed negative dynamics.

In value terms, the UK ($X) constitutes the largest market for imported refined soybean oil and its fractions in Europe, comprising X% of total imports. The second position in the ranking was held by Belgium ($X), with a X% share of total imports. It was followed by Spain, with an X% share.

From 2012 to 2022, the average annual growth rate of value in the UK totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Spain (X% per year).

Import Prices by Country

The import price in Europe stood at $X per ton in 2022, jumping by X% against the previous year. Import price indicated a mild 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, refined soybean oil import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices attained the peak figure in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the UK ($X per ton) and Germany ($X per ton), while the Netherlands ($X per ton) and Italy ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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