EU: Crude Soybean Oil Market 2025

Crude Soybean Oil Market Size in the EU

The EU crude soybean oil market surged to $X in 2022, increasing by 16% against the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Crude Soybean Oil Production in the EU

In value terms, crude soybean oil production rose to $X in 2022 estimated in export price. Over the period under review, production, however, saw a mild downturn. The growth pace was the most rapid in 2020 with an increase of 11% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Crude Soybean Oil Exports

Exports in the EU

In 2022, after two years of growth, there was significant decline in shipments abroad of crude soybean oil, when their volume decreased by -17.5% to X tons. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 24%. The volume of export peaked at X tons in 2021, and then contracted markedly in the following year.

In value terms, crude soybean oil exports amounted to $X in 2022. Overall, exports, however, enjoyed a measured expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 87%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, Spain (X tons), distantly followed by the Netherlands (X tons), Italy (X tons), Germany (X tons), Poland (X tons) and Portugal (X tons) were the key exporters of crude soybean oil, together constituting 88% of total exports. France (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Portugal (with a CAGR of +57.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest crude soybean oil supplying countries in the European Union were Spain ($X), the Netherlands ($X) and Italy ($X), with a combined 66% share of total exports. Germany, Poland, Portugal and France lagged somewhat behind, together comprising a further 25%.

Among the main exporting countries, Portugal, with a CAGR of +56.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, increasing by 26% against the previous year. In general, the export price posted a perceptible increase. The growth pace was the most rapid in 2021 an increase of 56%. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Germany ($X per ton) and Italy ($X per ton), while Portugal ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.2%), while the other leaders experienced more modest paces of growth.

Crude Soybean Oil Imports

Imports in the EU

In 2022, approx. X tons of crude soybean oil were imported in the European Union; increasing by 9.2% on the previous year. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of 21%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, crude soybean oil imports soared to $X in 2022. Over the period under review, imports showed pronounced growth. The growth pace was the most rapid in 2021 when imports increased by 58% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Poland (X tons) and Spain (X tons) represented the major importers of crude soybean oil in the European Union, together generating 41% of total imports. Germany (X tons) ranks next in terms of the total imports with a 10% share, followed by the Netherlands (10%) and France (9.9%). Belgium (X tons), Ireland (X tons), Denmark (X tons), Italy (X tons), Sweden (X tons), Bulgaria (X tons) and Greece (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Spain (with a CAGR of +28.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest crude soybean oil importing markets in the European Union were Poland ($X), Spain ($X) and Germany ($X), together comprising 53% of total imports.

Among the main importing countries, Spain, with a CAGR of +30.0%, 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 European Union stood at $X per ton in 2022, increasing by 7.2% against the previous year. Import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude soybean oil import price increased by +89.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 62% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Greece ($X per ton), while France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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