Uganda: Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size in Uganda

The Ugandan refined soybean oil market dropped to $X in 2022, waning by X% against the previous year. Overall, consumption showed a deep downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Refined Soybean Oil Production in Uganda

In value terms, refined soybean oil production contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt contraction. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Refined Soybean Oil Exports

Exports from Uganda

Refined soybean oil exports from Uganda soared to X tons in 2022, surging by X% against the previous year's figure. Over the period under review, exports posted a buoyant increase. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, refined soybean oil exports rose modestly to $X in 2022. Overall, exports posted a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of X%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Kenya (X tons), Tanzania (X tons) and Democratic Republic of the Congo (X tons) were the main destinations of refined soybean oil exports from Uganda, together comprising X% 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 Democratic Republic of the Congo (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Kenya ($X) remains the key foreign market for refined soybean oil and its fractions exports from Uganda, comprising X% of total exports. The second position in the ranking was held by Tanzania ($X), with a X% share of total exports. It was followed by Democratic Republic of the Congo, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Kenya stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (X% per year) and Democratic Republic of the Congo (X% per year).

Export Prices by Country

The average refined soybean oil export price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price recorded a abrupt setback. The growth pace was the most rapid in 2021 an increase of X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Rwanda ($X per ton), while the average price for exports to Tanzania ($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 Democratic Republic of the Congo (X%), while the prices for the other major destinations experienced a decline.

Refined Soybean Oil Imports

Imports into Uganda

In 2022, overseas purchases of refined soybean oil and its fractions decreased by X% to X tons for the first time since 2014, thus ending a seven-year rising trend. Overall, imports, however, saw a significant increase. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then declined sharply in the following year.

In value terms, refined soybean oil imports dropped markedly to $X in 2022. Over the period under review, imports, however, showed a significant increase. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of refined soybean oil to Uganda, with a X% share of total imports. Moreover, refined soybean oil imports from the United States exceeded the figures recorded by the second-largest supplier, Egypt (X tons), twofold. Italy (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (X% per year) and Italy (X% per year).

In value terms, the United States ($X), Egypt ($X) and Italy ($X) appeared to be the largest refined soybean oil suppliers to Uganda, together comprising X% of total imports. These countries were followed by the United Arab Emirates, which accounted for a further X%.

The United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average refined soybean oil import price stood at $X per ton in 2022, which is down by X% against the previous year. In general, import price indicated mild 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, refined soybean oil import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

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 Egypt ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :