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U.S. - Refined Soybean Oil And Its Fractions - Market Analysis, Forecast, Size, Trends And Insights
Update: COVID-19 Impact

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U.S.: Refined Soybean Oil Market Overview 2021

Refined Soybean Oil Market Size in the U.S.

The U.S. refined soybean oil market dropped to $X in 2019, which is down by -X% against the previous year. In general, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the market value increased by X% y-o-y. Refined soybean oil consumption peaked at $X in 2011; however, from 2012 to 2019, consumption stood at a somewhat lower figure.

Refined Soybean Oil Production in the U.S.

In value terms, refined soybean oil production declined to $X in 2019. Over the period under review, production saw a slight shrinkage. The pace of growth appeared the most rapid in 2008 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2009 to 2019, production growth remained at a somewhat lower figure.

Refined Soybean Oil Exports

Exports from the U.S.

In 2019, refined soybean oil exports from the U.S. shrank dramatically to X tonnes, which is down by -X% compared with 2018 figures. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. As a result, exports attained the peak of X tonnes. From 2018 to 2019, the growth exports remained at a lower figure.

In value terms, refined soybean oil exports contracted sharply to $X in 2019. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2008 when exports increased by X% y-o-y. As a result, exports attained the peak of $X. From 2009 to 2019, the growth exports failed to regain the momentum.

Exports by Country

Mexico (X tonnes) was the main destination for refined soybean oil exports from the U.S., accounting for a X% share of total exports. Moreover, refined soybean oil exports to Mexico exceeded the volume sent to the second major destination, Canada (X tonnes), fivefold. The third position in this ranking was occupied by Trinidad and Tobago (X tonnes), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume to Mexico amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-X% per year) and Trinidad and Tobago (+X% per year).

In value terms, Mexico ($X) remains the key foreign market for refined soybean oil exports from the U.S., comprising X% of total exports. The second position in the ranking was occupied by Canada ($X), with a X% share of total exports. It was followed by Trinidad and Tobago, with a X% share.

From 2007 to 2019, the average annual growth rate of value to Mexico amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-X% per year) and Trinidad and Tobago (+X% per year).

Export Prices by Country

In 2019, the average refined soybean oil export price amounted to $X per tonne, remaining stable against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2008 an increase of X% against the previous year. Over the period under review, average export prices attained the maximum at $X per tonne in 2011; however, from 2012 to 2019, export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2019, the highest prices were recorded for prices to Panama ($X per tonne) and Canada ($X per tonne), while the average price for exports to Colombia ($X per tonne) and South Korea ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia, while the prices for the other major destinations experienced more modest paces of growth.

Refined Soybean Oil Imports

Imports into the U.S.

For the fifth consecutive year, the U.S. recorded growth in purchases abroad of refined soybean oil and its fractions, which increased by X% to X tonnes in 2019. Over the period under review, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2008 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2019 and are expected to retain growth in the near future.

In value terms, refined soybean oil imports expanded significantly to $X in 2019. In general, imports showed a significant increase. The pace of growth appeared the most rapid in 2008 with an increase of X% year-to-year. Over the period under review, imports hit record highs in 2019 and are expected to retain growth in the immediate term.

Imports by Country

In 2019, Canada (X tonnes) was the main supplier of refined soybean oil to the U.S., with a X% share of total imports. It was followed by Mexico (X tonnes), with a X% share of total imports.

From 2007 to 2019, the average annual growth rate of volume from Canada totaled +X%.

In value terms, Canada ($X) constituted the largest supplier of refined soybean oil to the U.S., comprising X% of total imports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total imports.

From 2007 to 2019, the average annual growth rate of value from Canada totaled +X%.

Import Prices by Country

In 2019, the average refined soybean oil import price amounted to $X per tonne, falling by -X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 an increase of X% y-o-y. As a result, import price reached the peak level of $X per tonne. From 2012 to 2019, the growth in terms of the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Mexico ($X per tonne), while the price for Canada totaled $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Mexico.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined soybean oil and its fractions in the world?
+
China (1.8M tonnes) remains the largest refined soybean oil consuming country worldwide, comprising approx. 16% of total volume. Moreover, refined soybean oil consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (808K tonnes), twofold. The third position in this ranking was occupied by India (734K tonnes), with a 6.6% share.
What are the largest producers of refined soybean oil and its fractions in the world?
+
The country with the largest volume of refined soybean oil production was China (2M tonnes), accounting for 17% of total volume. Moreover, refined soybean oil production in China exceeded the figures recorded by the second-largest producer, the U.S. (806K tonnes), twofold. India (723K tonnes) ranked third in terms of total production with a 6.4% share.
What are the leading suppliers of refined soybean oil and its fractions to the U.S.?
+
In value terms, Canada ($118M) constituted the largest supplier of refined soybean oil to the U.S., comprising 95% of total imports. The second position in the ranking was occupied by Mexico ($6M), with a 4.8% share of total imports.
What are the leading importers of refined soybean oil and its fractions from the U.S.?
+
In value terms, Mexico ($78M) remains the key foreign market for refined soybean oil exports from the U.S., comprising 50% of total exports. The second position in the ranking was occupied by Canada ($21M), with a 14% share of total exports. It was followed by Trinidad and Tobago, with a 5.5% share.
What is the average export price for refined soybean oil and its fractions in the U.S.?
+
In 2019, the average refined soybean oil export price amounted to $994 per tonne, standing approx. at the previous year.
What is the average import price for refined soybean oil and its fractions in the U.S.?
+
The average refined soybean oil import price stood at $782 per tonne in 2019, with a decrease of -1.8% against the previous year.

Product coverage:
• Prodcom 10415100 - Refined soya-bean oil and its fractions (excluding chemically modified)

This report provides an in-depth analysis of the refined soybean oil market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• USA

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the U.S.
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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