Russian Federation: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in the Russian Federation

The Russian soybean oilcake market declined modestly to $X in 2022, dropping by X% against the previous year. In general, consumption showed a pronounced contraction. The pace of growth was the most pronounced in 2020 with an increase of X%. Soybean oilcake consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Soybean Oilcake Production in the Russian Federation

In value terms, soybean oilcake production reached $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Soybean Oilcake Exports

Exports from the Russian Federation

In 2022, after four years of growth, there was decline in shipments abroad of soybean oilcake, when their volume decreased by X% to X tons. In general, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then contracted in the following year.

In value terms, soybean oilcake exports soared to $X in 2022. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the near future.

Exports by Country

Germany (X tons), Turkey (X tons) and the United States (X tons) were the main destinations of soybean oilcake 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 Turkey (with a CAGR of X.0%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Turkey ($X) were the largest markets for soybean oilcake exported from Russia worldwide, together comprising X% of total exports.

Among the main countries of destination, Turkey, with a CAGR of X.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average soybean oilcake export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, export price indicated pronounced 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, soybean oilcake export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Sweden ($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 Azerbaijan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Soybean Oilcake Imports

Imports into the Russian Federation

In 2022, overseas purchases of soybean oilcake decreased by X% to X tons, falling for the second year in a row after four years of growth. In general, imports saw a precipitous slump. The growth pace was the most rapid in 2018 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, soybean oilcake imports fell dramatically to $X in 2022. Overall, imports showed a precipitous descent. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of soybean oilcake to Russia, with a approx. X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands totaled X%.

In value terms, the Netherlands ($X) constituted the largest supplier of soybean oilcake to Russia.

From 2012 to 2022, the average annual growth rate of value from the Netherlands amounted to X%.

Import Prices by Country

The average soybean oilcake import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, import price indicated perceptible 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, soybean oilcake import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to see steady growth in years to come.

As there is only one major supplying country, the average price level is determined by prices for the Netherlands.

From 2012 to 2022, the rate of growth in terms of prices for Belarus amounted to X% per year.

Source: IndexBox Platform

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