Egypt: Crude Soybean Oil Market 2025

Crude Soybean Oil Market Size in Egypt

In 2022, after two years of decline, there was significant growth in the Egyptian crude soybean oil market, when its value increased by 13% to $X. Overall, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Crude soybean oil consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Crude Soybean Oil Production in Egypt

In value terms, crude soybean oil production expanded significantly to $X in 2022 estimated in export price. Over the period under review, production enjoyed pronounced growth. The pace of growth was the most pronounced in 2017 when the production volume increased by 68% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Crude Soybean Oil Exports

Exports from Egypt

In 2022, shipments abroad of crude soybean oil decreased by -68.5% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2019 when exports increased by 1,120% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, crude soybean oil exports reduced notably to $X in 2022. Over the period under review, exports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of 922%. The exports peaked at $X in 2021, and then declined dramatically in the following year.

Exports by Country

Algeria (X tons) was the main destination for crude soybean oil exports from Egypt, accounting for a 48% share of total exports. Moreover, crude soybean oil exports to Algeria exceeded the volume sent to the second major destination, Spain (X tons), twofold. Morocco (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Algeria stood at +73.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+8.1% per year) and Morocco (-22.9% per year).

In value terms, Algeria ($X) emerged as the key foreign market for crude soybean oil exports from Egypt, comprising 48% of total exports. The second position in the ranking was held by Spain ($X), with a 21% share of total exports. It was followed by Morocco, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Algeria stood at +84.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+43.4% per year) and Morocco (-16.7% per year).

Export Prices by Country

In 2022, the average crude soybean oil export price amounted to $X per ton, increasing by 26% against the previous year. Over the period under review, the export price posted a modest increase. The most prominent rate of growth was recorded in 2021 an increase of 59%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Oman ($X per ton) and Algeria ($X per ton), while the average price for exports to Morocco ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+59.0%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Soybean Oil Imports

Imports into Egypt

Crude soybean oil imports into Egypt skyrocketed to X tons in 2022, with an increase of 23% on the previous year. Overall, imports enjoyed a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 351% against the previous year. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, crude soybean oil imports skyrocketed to $X in 2022. Over the period under review, imports posted resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 475%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest crude soybean oil supplier to Egypt, accounting for a 49% share of total imports. Moreover, crude soybean oil imports from Turkey exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. Italy (X tons) ranked third in terms of total imports with a 21% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at +60.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-8.8% per year) and Italy (+6.3% per year).

In value terms, Turkey ($X) constituted the largest supplier of crude soybean oil to Egypt, comprising 49% of total imports. The second position in the ranking was taken by Russia ($X), with a 22% share of total imports. It was followed by Italy, with a 21% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey stood at +104.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-6.9% per year) and Italy (+18.7% per year).

Import Prices by Country

The average crude soybean oil import price stood at $X per ton in 2022, picking up by 23% against the previous year. In general, the import price recorded slight growth. The pace of growth appeared the most rapid in 2021 when the average import price increased by 59%. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per ton) and Russia ($X per ton), while the price for Italy ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+26.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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