CIS: Crude Soybean Oil Market 2025

Crude Soybean Oil Market Size in CIS

The CIS crude soybean oil market shrank sharply to $X in 2022, falling by -18.2% against the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then contracted significantly in the following year.

Crude Soybean Oil Production in CIS

In value terms, crude soybean oil production rose slightly to $X in 2022 estimated in export price. The total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 -2.9% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 31%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Crude Soybean Oil Exports

Exports in CIS

In 2022, exports of crude soybean oil in the CIS soared to X tons, surging by 20% compared with the previous year's figure. Over the period under review, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 102%. 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, crude soybean oil exports expanded slightly to $X in 2022. In general, exports showed a buoyant expansion. The growth pace was the most rapid in 2014 when exports increased by 65% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Russia (X tons) represented the main exporter of crude soybean oil, mixing up 86% of total exports. It was distantly followed by Belarus (X tons), committing a 12% share of total exports. Kazakhstan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to crude soybean oil exports from Russia stood at +16.1%. At the same time, Belarus (+224.8%) and Kazakhstan (+5.5%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +224.8% from 2012-2022. While the share of Belarus (+12 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Kazakhstan (-2.7 p.p.) and Russia (-3.6 p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest crude soybean oil supplier in the CIS, comprising 79% of total exports. The second position in the ranking was held by Belarus ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Russia stood at +13.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Belarus (+254.3% per year) and Kazakhstan (+4.7% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, declining by -13.5% against the previous year. In general, the export price continues to indicate a mild reduction. The growth pace was the most rapid in 2021 when the export price increased by 57%. As a result, the export price reached the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belarus ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+9.1%), while the other leaders experienced a decline in the export price figures.

Crude Soybean Oil Imports

Imports in CIS

Crude soybean oil imports expanded notably to X tons in 2022, surging by 10% compared with 2021. Overall, imports saw strong growth. The pace of growth was the most pronounced in 2018 with an increase of 90%. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, crude soybean oil imports shrank modestly to $X in 2022. Over the period under review, imports enjoyed a measured increase. The pace of growth appeared the most rapid in 2020 with an increase of 55% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced modestly in the following year.

Imports by Country

Russia represented the largest importer of crude soybean oil in the CIS, with the volume of imports finishing at X tons, which was near 65% of total imports in 2022. Belarus (X tons) held the second position in the ranking, distantly followed by Uzbekistan (X tons) and Tajikistan (X tons). All these countries together took near 32% share of total imports. Azerbaijan (X tons) held a minor share of total imports.

Imports into Russia increased at an average annual rate of +2.9% from 2012 to 2022. At the same time, Tajikistan (+53.7%), Belarus (+9.6%) and Azerbaijan (+2.6%) displayed positive paces of growth. Moreover, Tajikistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +53.7% from 2012-2022. By contrast, Uzbekistan (-21.6%) illustrated a downward trend over the same period. While the share of Belarus (+6.8 p.p.), Uzbekistan (+6.1 p.p.) and Tajikistan (+5.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Russia (-16.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported crude soybean oil in the CIS, comprising 60% of total imports. The second position in the ranking was taken by Belarus ($X), with a 24% share of total imports. It was followed by Uzbekistan, with a 7% share.

From 2012 to 2022, the average annual growth rate of value in Russia stood at +1.3%. In the other countries, the average annual rates were as follows: Belarus (+10.0% per year) and Uzbekistan (-15.7% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, reducing by -12.8% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by 59%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Azerbaijan ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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