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Report Central Asia - Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Central Asia - Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights

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Central Asia: Soybean Oil Market 2024

Soybean Oil Market Size in Central Asia

The Central Asian soybean oil market shrank notably to $X in 2022, which is down by -23.8% against the previous year. Over the period under review, consumption, however, enjoyed a remarkable increase. The level of consumption peaked at $X in 2021, and then reduced remarkably in the following year.

Soybean Oil Production in Central Asia

In value terms, soybean oil production declined modestly to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.0% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 35% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Soybean Oil Exports

Exports in Central Asia

Soybean oil exports soared to X tons in 2022, jumping by 36% on the previous year's figure. Over the period under review, exports continue to indicate a remarkable increase. The growth pace was the most rapid in 2017 when exports increased by 166% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, soybean oil exports soared to $X in 2022. Overall, exports continue to indicate a strong increase. The growth pace was the most rapid in 2017 when exports increased by 139%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Kazakhstan (X tons) represented the key exporter of soybean oil in Central Asia, generating 99.9% of total export.

Kazakhstan was also the fastest-growing in terms of the soybean oil exports, with a CAGR of +6.6% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) also remains the largest soybean oil supplier in Central Asia.

From 2012 to 2022, the average annual growth rate of value in Kazakhstan stood at +5.9%.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2022, with a decrease of -14.7% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 66% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

As there is only one major export destination, the average price level is determined by prices for Kazakhstan.

From 2012 to 2022, the rate of growth in terms of prices for Kazakhstan amounted to -0.7% per year.

Soybean Oil Imports

Imports in Central Asia

Soybean oil imports fell markedly to X tons in 2022, with a decrease of -23.9% on 2021. Over the period under review, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 98% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, soybean oil imports declined markedly to $X in 2022. In general, imports, however, saw resilient growth. The growth pace was the most rapid in 2017 with an increase of 85% against the previous year. The level of import peaked at $X in 2021, and then contracted significantly in the following year.

Imports by Country

In 2022, Tajikistan (X tons), distantly followed by Mongolia (X tons), Uzbekistan (X tons) and Turkmenistan (X tons) were the major importers of soybean oil, together constituting 96% of total imports. Kazakhstan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +34.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Tajikistan ($X), Mongolia ($X) and Uzbekistan ($X) were the countries with the highest levels of imports in 2022, with a combined 91% share of total imports.

In terms of the main importing countries, Uzbekistan, with a CAGR of +34.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per ton, with a decrease of -8% against the previous year. Over the period under review, the import price continues to indicate a perceptible decline. The pace of growth was the most pronounced in 2021 when the import price increased by 46% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Uzbekistan ($X per ton) and Mongolia ($X per ton), while Turkmenistan ($X per ton) and Kazakhstan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tajikistan (+3.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of in 2021 were Uzbekistan, Kazakhstan and Mongolia, with a combined 84% share of total consumption. Tajikistan and Turkmenistan lagged somewhat behind, together accounting for a further 15%.
Kazakhstan constituted the country with the largest volume of soybean oil production, comprising approx. 90% of total volume. Moreover, soybean oil production in Kazakhstan exceeded the figures recorded by the second-largest producer, Uzbekistan, ninefold.
In value terms, Kazakhstan remains the largest soybean oil supplier in Central Asia.
In value terms, the largest soybean oil importing markets in Central Asia were Uzbekistan, Mongolia and Tajikistan, together accounting for 95% of total imports. These countries were followed by Turkmenistan, which accounted for a further 3.6%.
The export price in Central Asia stood at $760 per ton in 2021, shrinking by -1.6% against the previous year.
The import price in Central Asia stood at $1,070 per ton in 2021, surging by 40% against the previous year.

This report provides an in-depth analysis of the soybean oil market in Central Asia. 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
  • Production in Central Asia, split by region and country
  • Trade (exports and imports) in Central Asia
  • 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. CONSUMPTION BY COUNTRY
    3. 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
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

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

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    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. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Kazakhstan
    • Kyrgyzstan
    • Mongolia
    • Tajikistan
    • Turkmenistan
    • Uzbekistan

  12. 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, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

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

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