Vietnam: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Vietnam

For the third consecutive year, the Vietnamese soybean oilcake market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Soybean oilcake consumption peaked in 2022 and is likely to continue growth in years to come.

Soybean Oilcake Exports

Exports from Vietnam

After two years of growth, shipments abroad of soybean oilcake decreased by X% to X tons in 2022. Over the period under review, exports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then contracted markedly in the following year.

In value terms, soybean oilcake exports dropped markedly to $X in 2022. Overall, exports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then reduced dramatically in the following year.

Exports by Country

Cambodia (X tons) was the main destination for soybean oilcake exports from Vietnam, accounting for a X% share of total exports. Moreover, soybean oilcake exports to Cambodia exceeded the volume sent to the second major destination, the Philippines (X tons), more than tenfold. The third position in this ranking was taken by Lao People's Democratic Republic (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Cambodia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Lao People's Democratic Republic (X% per year).

In value terms, Cambodia ($X) emerged as the key foreign market for soybean oilcake exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with a X% share of total exports. It was followed by Lao People's Democratic Republic, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Cambodia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Lao People's Democratic Republic (X% per year).

Export Prices by Country

In 2022, the average soybean oilcake export price amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Philippines ($X per ton) and Lao People's Democratic Republic ($X per ton), while the average price for exports to Cambodia ($X per ton) and Myanmar ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Soybean Oilcake Imports

Imports into Vietnam

In 2022, imports of soybean oilcake into Vietnam declined to X tons, reducing by X% compared with 2021. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its volume 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, imports decreased by X% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, soybean oilcake imports expanded rapidly to $X in 2022. In general, total imports indicated a strong increase 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, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Argentina (X tons), Brazil (X tons) and the United States (X tons) were the main suppliers of soybean oilcake imports to Vietnam, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest soybean oilcake suppliers to Vietnam were Argentina ($X), Brazil ($X) and the United States ($X), with a combined X% share of total imports.

Brazil, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average soybean oilcake import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, import 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 oilcake import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Argentina ($X per ton) and India ($X per ton), while the price for Brazil ($X per ton) and China ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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