Austria: Soya Bean Market 2024

Soya Bean Market Size in Austria

For the fifth consecutive year, the Austrian soya bean market recorded growth in sales value, which increased by 27% to $X in 2021. Overall, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +60.5% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Soya Bean Production in Austria

In value terms, soya bean production totaled $X in 2021 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -15.1% against 2017 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 45%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

The average yield of soya beans in Austria expanded slightly to X tons per ha in 2021, surging by 2.6% against the previous year. The yield figure increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the yield increased by 37%. Over the period under review, the average soya bean yield reached the maximum level at X tons per ha in 2019; afterwards, it flattened through to 2021. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, approx. X ha of soya beans were harvested in Austria; leveling off at the previous year. In general, the total harvested area indicated a resilient increase from 2012 to 2021: its figure increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soya bean harvested area decreased by -0.5% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 30%. Over the period under review, the harvested area dedicated to soya bean production attained the maximum at X ha in 2019; however, from 2020 to 2021, the harvested area failed to regain momentum.

Soya Bean Exports

Exports from Austria

In 2021, after six years of growth, there was significant decline in shipments abroad of soya beans, when their volume decreased by -25.7% to X tons. Overall, exports, however, continue to indicate a temperate increase. The pace of growth appeared the most rapid in 2019 when exports increased by 57%. Over the period under review, the exports hit record highs at X tons in 2020, and then declined dramatically in the following year.

In value terms, soya bean exports contracted slightly to $X in 2021. Over the period under review, total exports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +84.7% against 2015 indices. The pace of growth appeared the most rapid in 2019 with an increase of 24%. The exports peaked at $X in 2020, and then declined slightly in the following year.

Exports by Country

Germany (X tons) was the main destination for soya bean exports from Austria, with a 65% share of total exports. Moreover, soya bean exports to Germany exceeded the volume sent to the second major destination, Slovakia (X tons), more than tenfold. The third position in this ranking was taken by Hungary (X tons), with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+8.9% per year) and Hungary (+2.0% per year).

In value terms, Germany ($X) remains the key foreign market for soya bean exports from Austria, comprising 60% of total exports. The second position in the ranking was held by Slovakia ($X), with a 5.3% share of total exports. It was followed by Hungary, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value to Germany stood at +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+8.9% per year) and Hungary (+7.4% per year).

Export Prices by Country

In 2021, the average soya bean export price amounted to $X per ton, increasing by 34% against the previous year. Overall, export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 an increase of 36% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was France ($X per ton), while the average price for exports to Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Soya Bean Imports

Imports into Austria

In 2021, overseas purchases of soya beans decreased by -25.1% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 34% against the previous year. Imports peaked at X tons in 2020, and then fell significantly in the following year.

In value terms, soya bean imports reached $X in 2021. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +77.1% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 30%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, Hungary (X tons) constituted the largest supplier of soya bean to Austria, accounting for a 33% share of total imports. Moreover, soya bean imports from Hungary exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. Romania (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Hungary totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-9.9% per year) and Romania (+26.7% per year).

In value terms, Hungary ($X) constituted the largest supplier of soya bean to Austria, comprising 30% of total imports. The second position in the ranking was held by Romania ($X), with a 15% share of total imports. It was followed by Italy, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Hungary amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+26.8% per year) and Italy (-9.3% per year).

Import Prices by Country

In 2021, the average soya bean import price amounted to $X per ton, increasing by 47% against the previous year. Overall, import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soya bean import price increased by +61.2% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from Romania ($X per ton) and Serbia ($X per ton), while the price for Italy ($X per ton) and Hungary ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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