Eastern Asia: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Eastern Asia

The East Asian soybean oilcake market expanded remarkably to $X in 2021, growing by 5.5% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the market value increased by 9.3% against the previous year. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Soybean Oilcake Production in Eastern Asia

In value terms, soybean oilcake production rose notably to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 10%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Soybean Oilcake Exports

Exports in Eastern Asia

For the third year in a row, Eastern Asia recorded decline in overseas shipments of soybean oilcake, which decreased by -4.6% to X tons in 2021. In general, exports showed a pronounced slump. The most prominent rate of growth was recorded in 2014 with an increase of 83%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, soybean oilcake exports soared to $X in 2021. Over the period under review, exports recorded a noticeable reduction. The most prominent rate of growth was recorded in 2014 with an increase of 76% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China dominates exports structure, accounting for X tons, which was approx. 91% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X tons) and South Korea (X tons), together generating a 9.3% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to soybean oilcake exports from China stood at -3.5%. At the same time, Taiwan (Chinese) (+10.7%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +10.7% from 2012-2021. South Korea experienced a relatively flat trend pattern. Taiwan (Chinese) (+3.2 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -4.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest soybean oilcake supplier in Eastern Asia, comprising 90% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 5.3% share of total exports.

In China, soybean oilcake exports decreased by an average annual rate of -3.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+9.6% per year) and South Korea (-2.8% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, surging by 31% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-0.4%), while the other leaders experienced a decline in the export price figures.

Soybean Oilcake Imports

Imports in Eastern Asia

After three years of growth, overseas purchases of soybean oilcake decreased by -8.1% to X tons in 2021. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 9.7%. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, soybean oilcake imports skyrocketed to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X tons) and Japan (X tons) prevails in imports structure, together achieving 96% of total imports. China (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +6.2%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Japan ($X), South Korea ($X) and China ($X) constituted the countries with the highest levels of imports in 2021, with a combined 98% share of total imports.

China, with a CAGR of +12.1%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, increasing by 29% against the previous year. In general, the import price saw a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :