Croatia: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Croatia

The Croatian soybean oilcake market soared to $X in 2021, jumping by 31% against the previous year. In general, the total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% 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 +51.6% against 2019 indices. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Soybean Oilcake Production in Croatia

In value terms, soybean oilcake production surged to $X in 2021 estimated in export price. In general, production enjoyed strong growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 7,713% against the previous year. Soybean oilcake production peaked in 2021 and is expected to retain growth in the near future.

Soybean Oilcake Exports

Exports from Croatia

In 2021, overseas shipments of soybean oilcake decreased by -43.4% to X tons, falling for the sixth year in a row after two years of growth. In general, exports showed a abrupt decrease. The growth pace was the most rapid in 2014 with an increase of 2,192%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, soybean oilcake exports contracted sharply to $X in 2021. Over the period under review, exports showed a noticeable decrease. The growth pace was the most rapid in 2014 when exports increased by 1,949% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Kosovo (X tons) was the main destination for soybean oilcake exports from Croatia, with a 64% share of total exports. Moreover, soybean oilcake exports to Kosovo exceeded the volume sent to the second major destination, Slovenia (X tons), twofold. The third position in this ranking was taken by Austria (X tons), with a 3.1% share.

From 2012 to 2021, the average annual growth rate of volume to Kosovo was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+51.0% per year) and Austria (-24.8% per year).

In value terms, the largest markets for soybean oilcake exported from Croatia were Kosovo ($X), Slovenia ($X) and Austria ($X), with a combined 96% share of total exports.

Among the main countries of destination, Slovenia, with a CAGR of +60.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average soybean oilcake export price stood at $X per ton in 2021, rising by 12% against the previous year. In general, export price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soybean oilcake export price increased by +66.1% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 49% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Kosovo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Soybean Oilcake Imports

Imports into Croatia

Soybean oilcake imports into Croatia expanded significantly to X tons in 2021, picking up by 10% on the previous year. The total import volume increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 24% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, soybean oilcake imports surged to $X in 2021. The total import value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Slovenia (X tons), Austria (X tons) and Italy (X tons) were the main suppliers of soybean oilcake imports to Croatia, with a combined 92% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of +105.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest soybean oilcake suppliers to Croatia were Slovenia ($X), Austria ($X) and Italy ($X), with a combined 90% share of total imports.

In terms of the main suppliers, Slovenia, with a CAGR of +96.2%, saw 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 average soybean oilcake import price stood at $X per ton in 2021, jumping by 18% against the previous year. Overall, the import price, however, continues to indicate a slight decline. The pace of growth appeared the most rapid in 2013 an increase of 19% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Italy ($X per ton) and Serbia ($X per ton), while the price for Brazil ($X per ton) and Slovenia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Serbia (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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