Global Crude Soybean Oil Market 2024

Crude Soybean Oil Market Size

The global crude soybean oil market was estimated at $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the global market hit record highs in 2022 and is expected to retain growth in the immediate term.

Crude Soybean Oil Production

In value terms, crude soybean oil production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a slight curtailment. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, global production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Crude Soybean Oil Exports

Exports

In 2022, overseas shipments of crude soybean oil decreased by X% to X tons, falling for the second consecutive year after two years of growth. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the global exports remained at a lower figure.

In value terms, crude soybean oil exports skyrocketed to $X in 2022. In general, exports, however, saw pronounced growth. The growth pace was the most rapid in 2021 when exports increased by X%. The global exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Argentina was the main exporting country with an export of around X tons, which finished at X% of total exports. Brazil (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by the United States (X%) and Bolivia (X%). The following exporters - Paraguay (X tons), Spain (X tons), Turkey (X tons), the Netherlands (X tons), Russia (X tons), Ukraine (X tons) and Italy (X tons) - together made up X% of total exports.

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

In value terms, Argentina ($X), Brazil ($X) and the United States ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of global exports. Bolivia, Paraguay, Spain, Turkey, the Netherlands, Russia, Ukraine and Italy lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Turkey, 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 global leaders experienced more modest paces of growth.

Export Prices by Country

The average crude soybean oil export price stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price posted perceptible growth. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Italy ($X per ton) and Russia ($X per ton), while Ukraine ($X per ton) and Paraguay ($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 Netherlands (X%), while the other global leaders experienced more modest paces of growth.

Crude Soybean Oil Imports

Imports

Global crude soybean oil imports shrank slightly to X tons in 2022, waning by X% against the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of global imports remained at a lower figure.

In value terms, crude soybean oil imports reached $X in 2022. In general, total imports indicated a temperate 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. Based on 2022 figures, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, global imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

India represented the major importing country with an import of around X tons, which recorded X% of total imports. Algeria (X tons) took the second position in the ranking, followed by Bangladesh (X tons) and Morocco (X tons). All these countries together held approx. X% share of total imports. The following importers - Peru (X tons), China (X tons), South Korea (X tons), Colombia (X tons), Nepal (X tons), Poland (X tons), Pakistan (X tons) and the Dominican Republic (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to crude soybean oil imports into India stood at X%. At the same time, Pakistan (X%), Poland (X%), Nepal (X%), Algeria (X%), the Dominican Republic (X%), Morocco (X%), Peru (X%) and Colombia (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. South Korea and Bangladesh experienced a relatively flat trend pattern. By contrast, China (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and Algeria increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported crude soybean oil worldwide, comprising X% of global imports. The second position in the ranking was held by Algeria ($X), with a X% share of global imports. It was followed by Morocco, with a X% share.

In India, crude soybean oil imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Algeria (X% per year) and Morocco (X% per year).

Import Prices by Country

The average crude soybean oil import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, import price indicated modest 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, crude soybean oil import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Dominican Republic ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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