Russian Federation: Crude Soybean Oil Market 2024

Crude Soybean Oil Market Size in the Russian Federation

The Russian crude soybean oil market stood at $X in 2022, with an increase of X% against the previous year. Overall, consumption recorded a prominent increase. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the immediate term.

Crude Soybean Oil Production in the Russian Federation

In value terms, crude soybean oil production amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a noticeable increase 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 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

Crude Soybean Oil Exports

Exports from the Russian Federation

In 2022, approx. X tons of crude soybean oil were exported from Russia; waning by X% on 2021 figures. Over the period under review, exports, however, showed a prominent increase. The growth pace was the most rapid in 2013 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude soybean oil exports rose notably to $X in 2022. In general, total exports indicated a remarkable increase 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons), China (X tons) and Tunisia (X tons) were the main destinations of crude soybean oil exports from Russia, with a combined X% share of total exports.

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

In value terms, the largest markets for crude soybean oil exported from Russia were India ($X), China ($X) and Tunisia ($X), with a combined X% share of total exports.

India, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other 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, surging by X% against the previous year. Over the period under review, the export price enjoyed a temperate expansion. The pace of growth appeared the most rapid in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Spain ($X per ton) and the United Arab Emirates ($X per ton), while the average price for exports to China ($X per ton) and the Netherlands ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Soybean Oil Imports

Imports into the Russian Federation

In 2022, purchases abroad of crude soybean oil decreased by X% to X tons, falling for the second year in a row after six years of growth. Over the period under review, imports showed a drastic downturn. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, crude soybean oil imports dropped significantly to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted significantly in the following year.

Imports by Country

Finland (X tons), Poland (X tons) and Italy (X tons) were the main suppliers of crude soybean oil imports to Russia, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest crude soybean oil suppliers to Russia were Finland ($X), Poland ($X) and Italy ($X), together accounting for X% of total imports.

Finland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average crude soybean oil import price amounted to $X per ton, increasing by X% against the previous year. Overall, the import price recorded a resilient increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Italy ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :