China - Soybean Oil - 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 September 2023 Import of Soybean Oil Surges to $39M
China Soybean Oil Imports
In September 2023, after two months of decline, there was significant growth in supplies from abroad of soybean oil, when their volume increased by 20% to 37K tons. In general, imports saw strong growth. The pace of growth was the most pronounced in November 2022 with an increase of 1,253% m-o-m.
In value terms, soybean oil imports soared to $39M (IndexBox estimates) in September 2023. Over the period under review, imports recorded a remarkable increase. The most prominent rate of growth was recorded in November 2022 with an increase of 1,206% m-o-m.
| COUNTRY | Import Value of Soybean Oil in China (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | |
| Argentina | N/A | N/A | 32.5 | 28.4 | 72.0 | N/A | N/A | N/A | N/A | 15.4 | 11.5 | 24.8 | 25.8 |
| Brazil | N/A | N/A | 39.5 | 37.4 | 22.6 | N/A | N/A | N/A | N/A | 34.7 | 23.4 | N/A | 6.7 |
| Russia | 6.3 | 5.5 | 4.8 | 16.1 | 12.3 | 6.6 | 16.3 | 18.8 | 11.2 | 22.7 | 4.9 | 6.5 | 4.6 |
| Others | < 0.1 | 0.5 | 1.6 | 1.9 | 1.9 | 1.5 | < 0.1 | < 0.1 | 0.6 | 1.7 | 0.7 | 0.8 | 1.7 |
| Total | 6.3 | 6.0 | 78.4 | 83.7 | 109 | 8.1 | 16.3 | 18.8 | 11.7 | 74.5 | 40.5 | 32.1 | 38.8 |
Imports by Country
In September 2023, Argentina (24K tons) constituted the largest soybean oil supplier to China, accounting for a 66% share of total imports. Moreover, soybean oil imports from Argentina exceeded the figures recorded by the second-largest supplier, Brazil (6.1K tons), fourfold.
From September 2022 to September 2023, the average monthly rate of growth in terms of volume from Argentina was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Brazil (-14.4% per month) and Russia (+0.4% per month).
In value terms, Argentina ($26M) constituted the largest supplier of soybean oil to China, comprising 66% of total imports. The second position in the ranking was held by Brazil ($6.7M), with a 17% share of total imports.
From September 2022 to September 2023, the average monthly rate of growth in terms of value from Argentina stood at -2.3%. The remaining supplying countries recorded the following average monthly rates of imports growth: Brazil (-16.3% per month) and Russia (-2.7% per month).
Imports by Type
In September 2023, crude soybean oil (35K tons) was the main type of soybean oil supplied to China, with a 97% share of total imports. Moreover, crude soybean oil exceeded the figures recorded for the second-largest type, refined soybean oil and its fractions (1.2K tons), more than tenfold.
From September 2022 to September 2023, the average monthly growth rate of the volume of import of crude soybean oil amounted to +21.4%.
In value terms, crude soybean oil ($38M) constituted the largest type of soybean oil supplied to China, comprising 97% of total imports. The second position in the ranking was taken by refined soybean oil and its fractions ($1.1M), with a 2.9% share of total imports.
Import Prices by Country
In September 2023, the soybean oil price amounted to $1,059 per ton (CIF, China), remaining constant against the previous month. Over the period under review, the import price, however, continues to indicate a perceptible contraction. Over the period under review, average import prices reached the maximum at $1,437 per ton in September 2022; however, from October 2022 to September 2023, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In September 2023, the countries with the highest prices were Brazil ($1,089 per ton) and Argentina ($1,069 per ton), while the price for Russia ($993 per ton) and Ukraine ($1,000 per ton) were amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Brazil (-2.2%), while the prices for the other major suppliers experienced a decline.
This report provides an in-depth analysis of the soybean oil 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 237 - Oil of Soybeans
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
- 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 VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- 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 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- 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
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
