Argentina: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Argentina

In 2021, after two years of decline, there was significant growth in the Argentinian soybean oilcake market, when its value increased by 417% to $X. Over the period under review, consumption showed resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Soybean Oilcake Production in Argentina

In value terms, soybean oilcake production expanded significantly to $X in 2021 estimated in export price. Overall, production, however, showed a slight slump. The pace of growth appeared the most rapid in 2014 with an increase of 11% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Soybean Oilcake Exports

Exports from Argentina

In 2021, approx. X tons of soybean oilcake were exported from Argentina; dropping by -21.8% on the previous year. In general, exports continue to indicate a pronounced setback. The pace of growth was the most pronounced in 2019 when exports increased by 15%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, soybean oilcake exports contracted to $X in 2021. Overall, exports showed a perceptible downturn. The pace of growth was the most pronounced in 2014 with an increase of 11%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Vietnam (X tons), Indonesia (X tons) and Spain (X tons) were the main destinations of soybean oilcake exports from Argentina, with a combined 36% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +9.1%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Indonesia ($X) and Spain ($X) were the largest markets for soybean oilcake exported from Argentina worldwide, with a combined 36% share of total exports.

Among the main countries of destination, Vietnam, with a CAGR of +8.8%, recorded 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

In 2021, the average soybean oilcake export price amounted to $X per ton, picking up by 25% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Iran ($X per ton) and Australia ($X per ton), while the average price for exports to Turkey ($X per ton) and Chile ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+0.1%), while the prices for the other major destinations experienced more modest paces of growth.

Soybean Oilcake Imports

Imports into Argentina

In 2021, overseas purchases of soybean oilcake decreased by -4.6% to X tons, falling for the second consecutive year after two years of growth. In general, imports continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2019 when imports increased by 1,331%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, soybean oilcake imports surged to $X in 2021. Overall, imports showed a pronounced setback. The most prominent rate of growth was recorded in 2019 when imports increased by 1,328% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Paraguay (X tons) was the main supplier of soybean oilcake to Argentina, accounting for a 91% share of total imports. Moreover, soybean oilcake imports from Paraguay exceeded the figures recorded by the second-largest supplier, Bolivia (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Paraguay stood at -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Bolivia (-16.5% per year) and Brazil (+5.5% per year).

In value terms, Paraguay ($X) constituted the largest supplier of soybean oilcake to Argentina, comprising 84% of total imports. The second position in the ranking was taken by Brazil ($X), with a 6.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Paraguay was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+10.5% per year) and Bolivia (-13.9% per year).

Import Prices by Country

In 2021, the average soybean oilcake import price amounted to $X per ton, picking up by 27% against the previous year. Over the period under review, import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 an increase of 62%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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