France: Soybean Oil Market 2024

Soybean Oil Market Size in France

The French soybean oil market soared to $X in 2022, rising by 48% against the previous year. In general, consumption, however, saw a abrupt contraction. Soybean oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Soybean Oil Production in France

In value terms, soybean oil production declined significantly to $X in 2022 estimated in export price. Over the period under review, production recorded a sharp decrease. The growth pace was the most rapid in 2017 when the production volume increased by 71% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Soybean Oil Exports

Exports from France

In 2022, the amount of soybean oil exported from France rose notably to X tons, surging by 7.3% compared with the previous year's figure. In general, exports, however, continue to indicate a slight decrease. The most prominent rate of growth was recorded in 2018 with an increase of 101%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, soybean oil exports surged to $X in 2022. Overall, exports enjoyed a mild increase. The pace of growth was the most pronounced in 2021 with an increase of 118% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Spain (X tons), Morocco (X tons) and Senegal (X tons) were the main destinations of soybean oil exports from France, together accounting for 90% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Morocco (with a CAGR of +138.9%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Morocco ($X) and Senegal ($X) constituted the largest markets for soybean oil exported from France worldwide, with a combined 91% share of total exports.

Morocco, with a CAGR of +122.8%, saw the highest growth rate of the value of exports, in terms of 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

In 2022, the average soybean oil export price amounted to $X per ton, increasing by 17% against the previous year. Overall, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.6% 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 +111.0% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 53% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+39.1%), while the prices for the other major destinations experienced more modest paces of growth.

Soybean Oil Imports

Imports into France

In 2022, imports of soybean oil into France surged to X tons, growing by 157% against 2021 figures. Over the period under review, imports, however, saw a abrupt slump. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, soybean oil imports surged to $X in 2022. In general, imports, however, continue to indicate a abrupt slump. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Romania (X tons) constituted the largest supplier of soybean oil to France, with a 61% share of total imports. Moreover, soybean oil imports from Romania exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. Spain (X tons) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Romania totaled +7,821.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+0.3% per year) and Spain (-13.4% per year).

In value terms, Romania ($X), the Netherlands ($X) and Spain ($X) were the largest soybean oil suppliers to France, together accounting for 70% of total imports.

Romania, with a CAGR of +4,342.1%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average soybean oil import price stood at $X per ton in 2022, shrinking by -34.7% against the previous year. In general, the import price recorded a noticeable reduction. The pace of growth was the most pronounced in 2021 an increase of 49% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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