Indonesia: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Indonesia

The Indonesian soybean oilcake market amounted to $X in 2022, rising by X% against the previous year. Overall, the total consumption indicated slight 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, consumption increased by X% against 2017 indices. Soybean oilcake consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Soybean Oilcake Production in Indonesia

In value terms, soybean oilcake production declined notably to $X in 2022 estimated in export price. In general, production recorded a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of X%. Soybean oilcake production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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Soybean Oilcake Exports

Exports from Indonesia

In 2022, overseas shipments of soybean oilcake decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports faced a dramatic contraction. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then declined sharply in the following year.

In value terms, soybean oilcake exports fell significantly to $X in 2022. Overall, exports saw a dramatic setback. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then fell rapidly in the following year.

Exports by Country

Papua New Guinea (X tons) was the main destination for soybean oilcake exports from Indonesia, accounting for a X% share of total exports. Moreover, soybean oilcake exports to Papua New Guinea exceeded the volume sent to the second major destination, Singapore (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Papua New Guinea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and the United States (X% per year).

In value terms, Papua New Guinea ($X) emerged as the key foreign market for soybean oilcake exports from Indonesia, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Papua New Guinea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average soybean oilcake export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price continues to indicate a resilient expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Singapore ($X per ton) was 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.

Soybean Oilcake Imports

Imports into Indonesia

For the third consecutive year, Indonesia recorded growth in purchases abroad of soybean oilcake, which increased by X% to X tons in 2022. In general, total imports indicated a pronounced increase from 2012 to 2022: its volume 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 2012 indices. The pace of growth appeared the most rapid in 2020 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, soybean oilcake imports surged to $X in 2022. Over the period under review, total imports indicated strong 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, imports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Brazil (X tons), Argentina (X tons) and Paraguay (X tons) were the main suppliers of soybean oilcake imports to Indonesia, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Brazil ($X), Argentina ($X) and Paraguay ($X) appeared to be the largest soybean oilcake suppliers to Indonesia, with a combined X% share of total imports.

Brazil, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average soybean oilcake import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Paraguay ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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