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Vietnam - Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights
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Vietnam: Soybean Oil Market Overview 2021

Soybean Oil Market Size in Vietnam

The Vietnamese soybean oil market totaled $X in 2020, remaining relatively unchanged against the previous year. In general, consumption showed a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of X% year-to-year. Soybean oil consumption peaked at $X in 2008; however, from 2009 to 2020, consumption failed to regain the momentum.

Soybean Oil Production in Vietnam

In value terms, soybean oil production contracted to $X in 2020 estimated in export prices. Overall, production saw a significant expansion. The pace of growth was the most pronounced in 2011 when the production volume increased by X% year-to-year. Soybean oil production peaked at $X in 2019, and then declined in the following year.

Soybean Oil Exports

Exports from Vietnam

In 2020, soybean oil exports from Viet Nam expanded significantly to X tonnes, growing by X% on the previous year. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 with an increase of X% y-o-y. Over the period under review, exports reached the peak figure at X tonnes in 2015; however, from 2016 to 2020, exports remained at a lower figure.

In value terms, soybean oil exports stood at $X in 2020. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Over the period under review, exports attained the peak figure at $X in 2015; however, from 2016 to 2020, exports failed to regain the momentum.

Exports by Country

South Korea (X tonnes), India (X tonnes) and Malaysia (X tonnes) were the main destinations of soybean oil exports from Viet Nam, together comprising X% of total exports. The Netherlands, the Philippines, China and Cambodia lagged somewhat behind, together comprising a further X 2007 to 2020, the biggest increases were in the Netherlands (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soybean oil exported from Viet Nam were South Korea ($X), India ($X) and Malaysia ($X), together comprising X% of total exports. The Philippines, the Netherlands, China and Cambodia lagged somewhat behind, together accounting for a further X the main countries of destination, the Netherlands (+X% per year) saw the highest growth rate of 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 oil export price stood at $X per tonne in 2020, with a decrease of -X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 when the average export price increased by X% y-o-y. As a result, export price attained the peak level of $X per tonne. From 2012 to 2020, the growth in terms of the average export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was China ($X per tonne), while the average price for exports to India ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines, while the prices for the other major destinations experienced more modest paces of growth.

Soybean Oil Imports

Imports into Vietnam

In 2020, purchases abroad of soybean oil increased by X% to X tonnes, rising for the third consecutive year after two years of decline. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tonnes in 2008; however, from 2009 to 2020, imports failed to regain the momentum.

In value terms, soybean oil imports totaled $X in 2020. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 with an increase of X% year-to-year. Imports peaked at $X in 2011; however, from 2012 to 2020, imports failed to regain the momentum.

Imports by Country

Thailand (X tonnes), Argentina (X tonnes) and Malaysia (X tonnes) were the main suppliers of soybean oil imports to Viet Nam, together comprising X% of total imports. These countries were followed by Taiwan (Chinese) and Brazil, which together accounted for a further X 2007 to 2020, the biggest increases were in Taiwan (Chinese), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest soybean oil suppliers to Viet Nam were Thailand ($X), Argentina ($X) and Malaysia ($X), with a combined X% share of total imports. These countries were followed by Brazil and Taiwan (Chinese), which together accounted for a further X terms of the main suppliers, Taiwan (Chinese) saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average soybean oil import price stood at $X per tonne in 2020, stabilizing at the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% y-o-y. Over the period under review, average import prices hit record highs at $X per tonne in 2013; however, from 2014 to 2020, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2020, the highest prices were recorded for prices from Brazil ($X per tonne) and Malaysia ($X per tonne), while the price for Taiwan (Chinese) ($X per tonne) and Argentina ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Brazil, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for soybean oil in the world?
+
China (40M tonnes) remains the largest soybean oil consuming country worldwide, accounting for 48% of total volume. Moreover, soybean oil consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (10M tonnes), fourfold. The third position in this ranking was occupied by Brazil (9.4M tonnes), with a 11% share.
What are the largest producers of soybean oil in the world?
+
China (39M tonnes) constituted the country with the largest volume of soybean oil production, comprising approx. 48% of total volume. Moreover, soybean oil production in China exceeded the figures recorded by the second-largest producer, the U.S. (11M tonnes), threefold. The third position in this ranking was occupied by Brazil (10M tonnes), with a 12% share.
What are the leading suppliers of soybean oil to Vietnam?
+
In value terms, the largest soybean oil suppliers to Viet Nam were Thailand ($18M), Argentina ($17M) and Malaysia ($6.4M), together comprising 85% of total imports. These countries were followed by Brazil and Taiwan (Chinese), which together accounted for a further 11%.
What are the leading importers of soybean oil from Vietnam?
+
In value terms, South Korea ($3.3M), India ($1.9M) and Malaysia ($1.2M) were the largest markets for soybean oil exported from Viet Nam worldwide, with a combined 77% share of total exports. These countries were followed by the Philippines, the Netherlands, China and Cambodia, which together accounted for a further 19%.
What is the average export price for soybean oil in Vietnam?
+
The average soybean oil export price stood at $756 per tonne in 2020, shrinking by -8.8% against the previous year.
What is the average import price for soybean oil in Vietnam?
+
The average soybean oil import price stood at $756 per tonne in 2020, remaining stable against the previous year.

Product coverage:
• FCL 237 - Oil of Soybeans

This report provides an in-depth analysis of the soybean oil market in Vietnam. 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:
• Viet Nam

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Vietnam
• 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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