Central Asia: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Central Asia

After two years of growth, the Central Asian soybean oilcake market decreased by -1% to $X in 2021. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.2% 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 +37.7% against 2014 indices. Over the period under review, the market reached the maximum level at $X in 2020, and then shrank modestly in the following year.

Soybean Oilcake Production in Central Asia

In value terms, soybean oilcake production reduced to $X in 2021 estimated in export price. The total production indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +30.1% against 2014 indices. The pace of growth was the most pronounced in 2017 with an increase of 15% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then fell modestly in the following year.

Soybean Oilcake Exports

Exports in Central Asia

In 2021, approx. X tons of soybean oilcake were exported in Central Asia; waning by -34.1% against the previous year. In general, exports, however, showed perceptible growth. The growth pace was the most rapid in 2020 when exports increased by 240%. As a result, the exports reached the peak of X tons, and then contracted remarkably in the following year.

In value terms, soybean oilcake exports fell sharply to $X in 2021. Over the period under review, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 287%. As a result, the exports reached the peak of $X, and then dropped remarkably in the following year.

Exports by Country

Kazakhstan (X tons) represented roughly 100% of total exports in 2021.

Kazakhstan was also the fastest-growing in terms of the soybean oilcake exports, with a CAGR of +3.4% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

In Kazakhstan, soybean oilcake exports expanded at an average annual rate of +8.0% over the period from 2012-2021.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2021, with an increase of 26% against the previous year. Over the last nine years, it increased at an average annual rate of +4.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the rate of growth in terms of prices for Kazakhstan amounted to +4.4% per year.

Soybean Oilcake Imports

Imports in Central Asia

For the fifth year in a row, Central Asia recorded growth in overseas purchases of soybean oilcake, which increased by 15% to X tons in 2021. Over the period under review, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 522% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, soybean oilcake imports skyrocketed to $X in 2021. In general, imports saw significant growth. The pace of growth was the most pronounced in 2017 with an increase of 500%. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

Imports by Country

Uzbekistan represented the largest importing country with an import of about X tons, which amounted to 77% of total imports. It was distantly followed by Tajikistan (X tons), achieving a 12% share of total imports. Kazakhstan (X tons), Turkmenistan (X tons), Mongolia (X tons) and Kyrgyzstan (X tons) followed a long way behind the leaders.

Imports into Uzbekistan increased at an average annual rate of +16.0% from 2012 to 2021. At the same time, Mongolia (+60.8%), Turkmenistan (+24.6%), Tajikistan (+18.7%) and Kyrgyzstan (+8.7%) displayed positive paces of growth. Moreover, Mongolia emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +60.8% from 2012-2021. By contrast, Kazakhstan (-1.1%) illustrated a downward trend over the same period. Uzbekistan (+77 p.p.) significantly strengthened its position in terms of the total imports, while Turkmenistan, Kyrgyzstan, Tajikistan and Kazakhstan saw its share reduced by -2.5%, -7.4%, -18.3% and -49.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Uzbekistan ($X) constitutes the largest market for imported soybean oilcake in Central Asia, comprising 74% of total imports. The second position in the ranking was held by Tajikistan ($X), with a 14% share of total imports. It was followed by Kazakhstan, with a 4.6% share.

From 2012 to 2021, the average annual growth rate of value in Uzbekistan totaled +18.8%. The remaining importing countries recorded the following average annual rates of imports growth: Tajikistan (+23.9% per year) and Kazakhstan (-0.3% per year).

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per ton, rising by 13% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 17% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Mongolia ($X per ton) and Tajikistan ($X per ton), while Turkmenistan ($X per ton) and Uzbekistan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tajikistan (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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