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Spain - Crude Soybean Oil - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

Spain - Crude Soybean Oil - Market Analysis, Forecast, Size, Trends And Insights

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Jan 16, 2023

Crude Soybean Oil Price in Spain Falls to $1,685 per Ton

Spain Crude Soybean Oil Export Price in September 2022

In September 2022, the crude soybean oil price amounted to $1,685 per ton (FOB, Spain), shrinking by -4.4% against the previous month. Over the last eight months, it increased at an average monthly rate of +2.7%. The most prominent rate of growth was recorded in June 2022 an increase of 27% month-to-month. Over the period under review, the average export prices hit record highs at $1,797 per ton in July 2022; however, from August 2022 to September 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In September 2022, the country with the highest price was Italy ($1,800 per ton), while the average price for exports to Egypt ($1,648 per ton) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Spain Crude Soybean Oil Exports

In September 2022, the amount of crude soybean oil exported from Spain shrank rapidly to 21K tons, with a decrease of -46.7% on the previous month's figure. In general, exports showed a abrupt slump. The pace of growth appeared the most rapid in August 2022 with an increase of 37% m-o-m. As a result, the exports reached the peak of 39K tons, and then reduced markedly in the following month.

In value terms, crude soybean oil exports contracted rapidly to $35M (IndexBox estimates) in September 2022. Overall, exports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in June 2022 with an increase of 46% month-to-month. The exports peaked at 69K tons in August 2022, and then shrank markedly in the following month.

Spain Crude Soybean Oil Exports by Country

Morocco (13K tons) was the main destination for crude soybean oil exports from Spain, with a 64% share of total exports. Moreover, crude soybean oil exports to Morocco exceeded the volume sent to the second major destination, Egypt (4.5K tons), threefold.

From January 2022 to September 2022, the average monthly growth rate of volume to Morocco stood at +2.9%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Egypt (0.0% per month) and Italy (+353.4% per month).

In value terms, Morocco ($22M) remains the key foreign market for crude soybean oil exports from Spain, comprising 63% of total exports. The second position in the ranking was held by Egypt ($7.4M), with a 21% share of total exports.

From January 2022 to September 2022, the average monthly rate of growth in terms of value to Morocco amounted to +5.7%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Egypt (0.0% per month) and Italy (+299.0% per month).

Factors Affecting Soybean Oil Prices

Soybean oil prices in Spain have been on the rise in recent years, due to a number of factors. One of the main drivers of this price increase has been the growing demand for soybean oil globally. This demand is being driven by the growing popularity of soy-based products, as well as the continued expansion of the biofuel industry. In addition, production costs have also risen significantly in recent years, due to a number of factors including droughts and increased input costs.

All of these factors have contributed to a significant increase in soybean oil prices in Spain. However, it is worth noting that prices are still relatively low compared to other edible oils such as olive oil. This means that there is still good potential for further price increases in the future.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the crude soybean oil market in Spain. 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:

  • Spain

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Spain
  • 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. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 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
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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