EU: Soybean Oil Market 2025

Soybean Oil Market Size in the EU

The EU soybean oil market skyrocketed to $X in 2022, rising by 31% against the previous year. The market value increased at an average annual rate of +1.6% 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.

Soybean Oil Production in the EU

In value terms, soybean oil production stood at $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 25% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Soybean Oil Exports

Exports in the EU

After two years of growth, shipments abroad of soybean oil decreased by -13.9% to X tons in 2022. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 16% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then fell in the following year.

In value terms, soybean oil exports expanded notably to $X in 2022. In general, exports, however, posted modest growth. The most prominent rate of growth was recorded in 2021 with an increase of 64% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons) and Spain (X tons) represented the largest exporters of soybean oil in 2022, resulting at approx. 30% and 24% of total exports, respectively. It was distantly followed by Italy (X tons), Germany (X tons), Portugal (X tons), Poland (X tons) and France (X tons), together comprising a 38% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +41.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest soybean oil supplying countries in the European Union were the Netherlands ($X), Spain ($X) and Italy ($X), together comprising 64% of total exports. Germany, Portugal, Poland and France lagged somewhat behind, together accounting for a further 27%.

Poland, with a CAGR of +43.5%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, with an increase of 27% against the previous year. Export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, soybean oil export price increased by +109.3% against 2019 indices. The growth pace was the most rapid in 2021 when the export price increased by 48% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

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

Soybean Oil Imports

Imports in the EU

In 2022, approx. X tons of soybean oil were imported in the European Union; growing by 13% against 2021 figures. The total import volume increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of 16%. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, soybean oil imports surged to $X in 2022. Over the period under review, imports posted a measured expansion. The most prominent rate of growth was recorded in 2021 with an increase of 39%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

The countries with the highest levels of soybean oil imports in 2022 were Poland (X tons), Spain (X tons), Germany (X tons), the Netherlands (X tons), France (X tons), Belgium (X tons), Ireland (X tons), Italy (X tons), Denmark (X tons), Sweden (X tons), Greece (X tons) and Bulgaria (X tons), together resulting at 93% of total import.

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 +25.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Spain ($X) and Germany ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 49% of total imports.

Spain, with a CAGR of +28.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, surging by 14% against the previous year. Import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, soybean oil import price increased by +92.5% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 54%. Over the period under review, import prices reached the maximum in 2022 and is likely to see gradual 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 Bulgaria ($X per ton), while France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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