CIS: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in CIS

The CIS soybean oilcake market stood at $X in 2021, increasing by 8% against the previous year. Overall, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Soybean Oilcake Production in CIS

In value terms, soybean oilcake production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 10% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Soybean Oilcake Exports

Exports in CIS

In 2021, overseas shipments of soybean oilcake increased by 14% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 219% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, soybean oilcake exports skyrocketed to $X in 2021. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 255%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Russia represented the major exporter of soybean oilcake in the CIS, with the volume of exports amounting to X tons, which was approx. 70% of total exports in 2021. It was distantly followed by Belarus (X tons), generating a 27% share of total exports. Kazakhstan (X tons) took a minor share of total exports.

Russia was also the fastest-growing in terms of the soybean oilcake exports, with a CAGR of +39.2% from 2012 to 2021. At the same time, Belarus (+31.4%) and Kazakhstan (+3.4%) displayed positive paces of growth. While the share of Russia (+27 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Kazakhstan (-25.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest soybean oilcake supplier in the CIS, comprising 71% of total exports. The second position in the ranking was held by Belarus ($X), with a 25% share of total exports.

In Russia, soybean oilcake exports increased at an average annual rate of +42.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Belarus (+31.2% per year) and Kazakhstan (+8.0% per year).

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per ton, jumping by 42% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+4.4%), while the other leaders experienced mixed trends in the export price figures.

Soybean Oilcake Imports

Imports in CIS

In 2021, supplies from abroad of soybean oilcake increased by 36% to X tons, rising for the fifth consecutive year after two years of decline. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +139.0% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, soybean oilcake imports skyrocketed to $X in 2021. In general, imports showed a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia was the largest importing country with an import of about X tons, which reached 43% of total imports. It was distantly followed by Belarus (X tons), Uzbekistan (X tons) and Azerbaijan (X tons), together constituting a 50% share of total imports. The following importers - Tajikistan (X tons) and Moldova (X tons) - each reached a 4.8% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Tajikistan (with a CAGR of +18.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Belarus ($X) and Uzbekistan ($X) were the countries with the highest levels of imports in 2021, with a combined 86% share of total imports. These countries were followed by Azerbaijan, Tajikistan and Moldova, which together accounted for a further 12%.

In terms of the main importing countries, Azerbaijan, with a CAGR of +28.0%, 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

The import price in the CIS stood at $X per ton in 2021, picking up by 22% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Tajikistan ($X per ton) and Azerbaijan ($X per ton), while Belarus ($X per ton) and Moldova ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Azerbaijan (+12.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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