Egypt: Refined Soybean Oil Market 2025

Refined Soybean Oil Market Size in Egypt

In 2022, the Egyptian refined soybean oil market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, recorded a slight contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Refined Soybean Oil Production in Egypt

In value terms, refined soybean oil production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced slump. The pace of growth was the most pronounced in 2019 when the production volume increased by 12%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Refined Soybean Oil Exports

Exports from Egypt

In 2022, after three years of growth, there was significant decline in overseas shipments of refined soybean oil and its fractions, when their volume decreased by -79.1% to X tons. Over the period under review, exports recorded a pronounced decrease. The pace of growth appeared the most rapid in 2021 when exports increased by 94%. As a result, the exports reached the peak of X tons, and then plummeted in the following year.

In value terms, refined soybean oil exports contracted sharply to $X in 2022. In general, exports saw a slight slump. The growth pace was the most rapid in 2021 when exports increased by 169%. As a result, the exports attained the peak of $X, and then fell remarkably in the following year.

Exports by Country

Jordan (X tons), Syrian Arab Republic (X tons) and Mauritius (X tons) were the main destinations of refined soybean oil exports from Egypt, together comprising 69% of total exports. Madagascar, Oman, Ghana, Libya, Lebanon, Rwanda, the United Arab Emirates, Palestine and Kuwait lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Rwanda (with a CAGR of +68.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for refined soybean oil exported from Egypt were Jordan ($X), Syrian Arab Republic ($X) and Mauritius ($X), with a combined 69% share of total exports. Madagascar, Oman, Ghana, Libya, Lebanon, Rwanda, the United Arab Emirates, Palestine and Kuwait lagged somewhat behind, together comprising a further 29%.

Rwanda, with a CAGR of +84.7%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average refined soybean oil export price stood at $X per ton in 2022, with an increase of 29% against the previous year. Over the period under review, the export price saw a mild increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 39%. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Mauritius ($X per ton) and Oman ($X per ton), while the average price for exports to Kuwait ($X per ton) and Syrian Arab Republic ($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 Madagascar (+34.0%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Soybean Oil Imports

Imports into Egypt

For the third consecutive year, Egypt recorded decline in purchases abroad of refined soybean oil and its fractions, which decreased by -49.8% to X tons in 2022. Overall, imports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2019 with an increase of 2,627%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, refined soybean oil imports reduced dramatically to $X in 2022. In general, imports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 873%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X tons), Saudi Arabia (X tons) and the Netherlands (X tons) were the main suppliers of refined soybean oil imports to Egypt.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of -46.1%), while purchases for the other leaders experienced a decline.

In value terms, Germany ($X), Saudi Arabia ($X) and the Netherlands ($X) were the largest refined soybean oil suppliers to Egypt.

In terms of the main suppliers, Saudi Arabia, with a CAGR of -37.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average refined soybean oil import price stood at $X per ton in 2022, surging by 31% against the previous year. In general, the import price recorded a mild increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by 84%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+24.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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