China - Oil Crops - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingChina's Oil Crops Imports Hit a New High of $66.8 Billion in 2023, Climbing 1%
China Oil Crops Imports
In 2023, supplies from abroad of oil crops (primary) was finally on the rise to reach 109M tons after two years of decline. The total import volume increased at an average annual rate of +4.8% over the period from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by 29% against the previous year. Over the period under review, imports attained the maximum in 2023 and are expected to retain growth in the immediate term.
In value terms, oil crops imports reached $66.8B (IndexBox estimates) in 2023. Over the period under review, total imports indicated a notable expansion from 2013 to 2023: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by +73.7% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 34%. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in years to come.
| COUNTRY | Import Value of Oil Crops in China (billion USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Brazil | 19.1 | 18.7 | 16.9 | 15.6 | 20.9 | 28.8 | 23.0 | 24.9 | 33.1 | 37.3 | 41.0 |
| United States | 13.3 | 16.3 | 12.4 | 13.9 | 14.0 | 7.1 | 6.7 | 10.8 | 17.1 | 19.2 | 15.7 |
| Canada | 2.5 | 3.1 | 2.4 | 2.2 | 3.1 | 3.0 | 2.2 | 1.2 | 1.9 | 2.0 | 4.4 |
| Russia | N/A | N/A | 0.2 | 0.2 | 0.2 | 0.4 | 0.4 | 0.4 | 0.4 | 0.7 | 1.3 |
| Argentina | 3.7 | 3.4 | 3.9 | 3.2 | 2.7 | 0.6 | 3.6 | 2.9 | 2.1 | 2.4 | 1.2 |
| Uruguay | 1.4 | 1.4 | 1.0 | 0.7 | 1.0 | 0.5 | 0.8 | 0.7 | 0.5 | 1.3 | N/A |
| Others | 1.5 | 1.7 | 1.6 | 1.2 | 1.2 | 1.4 | 1.7 | 2.0 | 2.5 | 2.9 | 3.1 |
| Total | 41.5 | 44.6 | 38.4 | 37.0 | 43.1 | 41.9 | 38.4 | 43.0 | 57.6 | 65.8 | 66.8 |
Imports by Country
In 2023, Brazil (70M tons) constituted the largest supplier of oil crops to China, accounting for a 64% share of total imports. Moreover, oil crops imports from Brazil exceeded the figures recorded by the second-largest supplier, the United States (24M tons), threefold. The third position in this ranking was held by Canada (6.6M tons), with a 6% share.
From 2013 to 2023, the average annual growth rate of volume from Brazil amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.9% per year) and Canada (+5.6% per year).
In value terms, Brazil ($41B) constituted the largest supplier of oil crops (primary) to China, comprising 61% of total imports. The second position in the ranking was held by the United States ($15.7B), with a 24% share of total imports. It was followed by Canada, with a 6.6% share.
From 2013 to 2023, the average annual growth rate of value from Brazil amounted to +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.7% per year) and Canada (+6.1% per year).
Imports by Type
In 2023, soya beans (99M tons) was the main type of oil crops (primary) supplied to China, accounting for a 91% share of total imports. Moreover, soya beans exceeded the figures recorded for the second-largest type, rape or colza seed (5.5M tons), more than tenfold. Linseed (1.2M tons) ranked third in terms of total imports with a 1.1% share.
From 2013 to 2023, the average annual growth rate of the volume of soya beans imports amounted to +4.6%. With regard to the other supplied products, the following average annual rates of growth were recorded: rape or colza seed (+4.1% per year) and linseed (+21.0% per year).
In value terms, soya beans ($59.7B) constituted the largest type of oil crops (primary) supplied to China, comprising 89% of total imports. The second position in the ranking was taken by rape or colza seed ($3.7B), with a 5.6% share of total imports. It was followed by sesame seed, with a 2.3% share.
Import Prices by Country
In 2023, the oil crops price stood at $612 per ton (CIF, China), dropping by -10.3% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 39% against the previous year. The import price peaked at $683 per ton in 2022, and then fell in the following year.
Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Canada ($673 per ton) and the United States ($645 per ton), while the price for Russia ($518 per ton) and Uruguay ($584 per ton) were amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Russia (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the oil crops market in China. 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 2030.
Product coverage:
- FCL 249 - Coconuts
- FCL 236 - Soybeans
- FCL 242 - Groundnuts, in shell
- FCL 333 - Linseed
- FCL 270 - Rapeseed or colza seed
- FCL 267 - Sunflower seed
- FCL 289 - Sesame seed
- FCL 292 - Mustard seed
- FCL 296 - Poppy seed
- FCL 265 - Castor Beans
- FCL 336 -
- FCL 277 -
- FCL 310 -
- FCL 263 -
- FCL 299 - Melonseed
- FCL 254 -
- FCL 339 -
- FCL 280 -
- FCL 305 -
- FCL 275 -
- FCL 311 -
- FCL 312 -
- FCL 329 - Cottonseed
Country coverage:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- 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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
-
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
-
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Area Harvested, 2012–2024
- Yield, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
