Scandinavia: Soybean Oil Market 2024

Soybean Oil Market Size in Scandinavia

In 2022, the Scandinavia soybean oil market increased by X% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption saw a resilient increase. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Soybean Oil Production in Scandinavia

In value terms, soybean oil production amounted to $X in 2022 estimated in export price. In general, production recorded a noticeable reduction. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Soybean Oil Exports

Exports in Scandinavia

In 2022, shipments abroad of soybean oil decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a pronounced slump. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, soybean oil exports rose slightly to $X in 2022. Overall, exports continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Norway prevails in exports structure, amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by Sweden (X tons), making up an X% share of total exports.

Norway was also the fastest-growing in terms of the soybean oil exports, with a CAGR of X% from 2012 to 2022. Sweden (X%) illustrated a downward trend over the same period. Norway (X p.p.) significantly strengthened its position in terms of the total exports, while Sweden saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Norway ($X) remains the largest soybean oil supplier in Scandinavia, comprising X% of total exports. The second position in the ranking was held by Sweden ($X), with a X% share of total exports.

In Norway, soybean oil exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, surging by X% against the previous year. Export price indicated a moderate increase 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 oil export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Norway stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (X%).

Soybean Oil Imports

Imports in Scandinavia

After two years of decline, supplies from abroad of soybean oil increased by X% to X tons in 2022. In general, imports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, soybean oil imports soared to $X in 2022. Overall, imports, however, recorded a pronounced decline. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Sweden (X tons) was the major importer of soybean oil, making up X% of total imports. It was distantly followed by Norway (X tons), committing a X% share of total imports.

Sweden was also the fastest-growing in terms of the soybean oil imports, with a CAGR of X% from 2012 to 2022. Norway (X%) illustrated a downward trend over the same period. Sweden (X p.p.) significantly strengthened its position in terms of the total imports, while Norway saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Sweden ($X) constitutes the largest market for imported soybean oil in Scandinavia, comprising X% of total imports. The second position in the ranking was held by Norway ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Sweden was relatively modest.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price continues to indicate a mild increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per ton), while Norway totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (X%).

Source: IndexBox Platform

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