Southern Asia: Crude Soybean Oil Market 2024

Crude Soybean Oil Market Size in Southern Asia

In 2022, the South Asian crude soybean oil market increased by X% to $X, rising for the third consecutive year after two years of decline. The total consumption indicated a resilient expansion 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, consumption increased by X% against 2019 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Crude Soybean Oil Production in Southern Asia

In value terms, crude soybean oil production totaled $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Crude Soybean Oil Exports

Exports in Southern Asia

In 2022, overseas shipments of crude soybean oil decreased by X% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude soybean oil exports shrank remarkably to $X in 2022. Overall, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

India was the main exporter of crude soybean oil in Southern Asia, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Nepal (X tons), committing a X% share of total exports.

India was also the fastest-growing in terms of the crude soybean oil exports, with a CAGR of X% from 2012 to 2022. Nepal (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and Nepal increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest crude soybean oil supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was held by Nepal ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to X%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, increasing by X% against the previous year. Export price indicated a notable 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. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

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

Crude Soybean Oil Imports

Imports in Southern Asia

In 2022, purchases abroad of crude soybean oil increased by X% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, imports posted prominent growth. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, crude soybean oil imports skyrocketed to $X in 2022. Overall, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

India represented the main importing country with an import of about X tons, which resulted at X% of total imports. It was distantly followed by Bangladesh (X tons), mixing up a X% share of total imports. The following importers - Nepal (X tons) and Pakistan (X tons) - each reached an X% share of total imports.

Imports into India increased at an average annual rate of X% from 2012 to 2022. At the same time, Pakistan (X%) and Nepal (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. Bangladesh experienced a relatively flat trend pattern. From 2012 to 2022, the share of India and Pakistan increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported crude soybean oil in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a X% share of total imports. It was followed by Nepal, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (X% per year) and Nepal (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the import price showed a modest expansion. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nepal ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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