Portugal: Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size in Portugal

The Portuguese refined soybean oil market contracted to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption continues to indicate a pronounced downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Refined Soybean Oil Production in Portugal

In value terms, refined soybean oil production shrank to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Refined Soybean Oil Exports

Exports from Portugal

After four years of decline, shipments abroad of refined soybean oil and its fractions increased by X% to X tons in 2022. Over the period under review, exports, however, showed a perceptible decline. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, refined soybean oil exports surged to $X in 2022. In general, exports, however, saw a mild contraction. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Angola (X tons) was the main destination for refined soybean oil exports from Portugal, accounting for a X% share of total exports. Moreover, refined soybean oil exports to Angola exceeded the volume sent to the second major destination, Cabo Verde (X tons), fivefold. The third position in this ranking was held by Guinea-Bissau (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Angola was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Cabo Verde (X% per year) and Guinea-Bissau (X% per year).

In value terms, Angola ($X) remains the key foreign market for refined soybean oil and its fractions exports from Portugal, comprising X% of total exports. The second position in the ranking was taken by Cabo Verde ($X), with a X% share of total exports. It was followed by Guinea-Bissau, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Angola amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cabo Verde (X% per year) and Guinea-Bissau (X% per year).

Export Prices by Country

The average refined soybean oil export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, export price indicated a noticeable 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%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Cabo Verde ($X per ton) and Spain ($X per ton), while the average price for exports to Israel ($X per ton) and Guinea-Bissau ($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 Spain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Soybean Oil Imports

Imports into Portugal

In 2022, approx. X tons of refined soybean oil and its fractions were imported into Portugal; rising by X% against the previous year. Over the period under review, imports, however, showed a deep setback. The pace of growth appeared the most rapid in 2013 when imports increased by X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, refined soybean oil imports skyrocketed to $X in 2022. In general, imports, however, saw a abrupt decrease. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Spain (X tons) was the main refined soybean oil supplier to Portugal, with a X% share of total imports. Moreover, refined soybean oil imports from Spain exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), more than tenfold.

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

In value terms, Spain ($X) constituted the largest supplier of refined soybean oil and its fractions to Portugal, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total imports.

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

Import Prices by Country

In 2022, the average refined soybean oil import price amounted to $X per ton, with an increase of X% against the previous year. In general, import price indicated a perceptible 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 import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for the Netherlands ($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%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :