Brazil: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Brazil

The Brazilian soybean oilcake market expanded modestly to $X in 2021, increasing by 2.6% against the previous year. Overall, consumption, however, saw a mild slump. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Soybean Oilcake Production in Brazil

In value terms, soybean oilcake production reached $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 24%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Soybean Oilcake Exports

Exports from Brazil

In 2021, shipments abroad of soybean oilcake increased by 1.2% to X tons, rising for the fourth consecutive year after two years of decline. The total export volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 when exports increased by 18% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, soybean oilcake exports surged to $X in 2021. The total export value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 33%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Thailand (X tons), the Netherlands (X tons) and Indonesia (X tons) were the main destinations of soybean oilcake exports from Brazil, with a combined 38% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +23.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Indonesia ($X) and the Netherlands ($X) constituted the largest markets for soybean oilcake exported from Brazil worldwide, with a combined 38% share of total exports.

Indonesia, with a CAGR of +22.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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, jumping by 23% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Germany ($X per ton) and Indonesia ($X per ton), while the average price for exports to Denmark ($X per ton) and South Korea ($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 Germany (+1.2%), while the prices for the other major destinations experienced mixed trend patterns.

Soybean Oilcake Imports

Imports into Brazil

In 2021, after two years of growth, there was significant decline in purchases abroad of soybean oilcake, when their volume decreased by -12.1% to X tons. In general, imports saw a slight descent. The growth pace was the most rapid in 2019 when imports increased by 1,332%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, soybean oilcake imports rose significantly to $X in 2021. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 190% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Paraguay (X tons) was the main soybean oilcake supplier to Brazil, with a 96% share of total imports. Moreover, soybean oilcake imports from Paraguay exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Paraguay was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+12.2% per year) and Spain (-13.3% per year).

In value terms, Paraguay ($X) constituted the largest supplier of soybean oilcake to Brazil, comprising 77% of total imports. The second position in the ranking was taken by the United States ($X), with a 21% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Paraguay totaled +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+17.3% per year) and Spain (-13.2% per year).

Import Prices by Country

In 2021, the average soybean oilcake import price amounted to $X per ton, increasing by 20% against the previous year. Overall, the import price enjoyed mild growth. The most prominent rate of growth was recorded in 2018 when the average import price increased by 186% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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