Luxembourg: Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size in Luxembourg

The Luxembourg refined soybean oil market declined to $X in 2022, shrinking by X% against the previous year. In general, consumption recorded a slight decrease. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Refined Soybean Oil Production in Luxembourg

In value terms, refined soybean oil production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Refined Soybean Oil Exports

Exports from Luxembourg

After three years of growth, overseas shipments of refined soybean oil and its fractions decreased by X% to X tons in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2021, and then fell sharply in the following year.

In value terms, refined soybean oil exports contracted markedly to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The exports peaked at $X in 2021, and then contracted markedly in the following year.

Exports by Country

Belgium (X tons) was the main destination for refined soybean oil exports from Luxembourg, with a X% share of total exports. Moreover, refined soybean oil exports to Belgium exceeded the volume sent to the second major destination, Germany (X tons), fourfold. Switzerland (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Belgium stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Switzerland (X% per year).

In value terms, Belgium ($X) emerged as the key foreign market for refined soybean oil and its fractions exports from Luxembourg, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by Switzerland, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Belgium amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Switzerland (X% per year).

Export Prices by Country

The average refined soybean oil export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Germany ($X per ton) and Belgium ($X per ton), while the average price for exports to France ($X per ton) and Switzerland ($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 Germany (X%), while the prices for the other major destinations experienced mixed trend patterns.

Refined Soybean Oil Imports

Imports into Luxembourg

In 2022, the amount of refined soybean oil and its fractions imported into Luxembourg fell rapidly to X tons, which is down by X% compared with the previous year. Over the period under review, imports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs 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 remarkably to $X in 2022. In general, imports showed a slight curtailment. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest refined soybean oil supplier to Luxembourg, accounting for a X% share of total imports. Moreover, refined soybean oil imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), eightfold. The Netherlands (X tons) ranked third in terms of total imports with an X% share.

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

In value terms, Germany ($X) constituted the largest supplier of refined soybean oil and its fractions to Luxembourg, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with an X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Belgium (X% per year).

Import Prices by Country

The average refined soybean oil import price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the import price saw temperate growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :