Indonesia: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Indonesia

The Indonesian soybean oilcake market surged to $X in 2021, jumping by 41% against the previous year. The market value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Soybean Oilcake Production in Indonesia

In value terms, soybean oilcake production surged to $X in 2021 estimated in export price. In general, production, however, recorded a mild downturn. The pace of growth appeared the most rapid in 2019 when the production volume increased by 101%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Soybean Oilcake Exports

Exports from Indonesia

In 2021, the amount of soybean oilcake exported from Indonesia surged to X tons, rising by 1,968% compared with the previous year. Overall, exports recorded tangible growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, soybean oilcake exports skyrocketed to $X in 2021. In general, exports recorded a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons) was the main destination for soybean oilcake exports from Indonesia, accounting for a 88% share of total exports. Moreover, soybean oilcake exports to France exceeded the volume sent to the second major destination, Sri Lanka (X tons), tenfold. The third position in this ranking was taken by Japan (X tons), with a 1.5% share.

From 2012 to 2021, the average annual growth rate of volume to France totaled +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+14.0% per year) and Japan (-4.1% per year).

In value terms, France ($X) remains the key foreign market for soybean oilcake exports from Indonesia, comprising 97% of total exports. The second position in the ranking was held by Japan ($X), with a 1.2% share of total exports. It was followed by Sri Lanka, with a 0.3% share.

From 2012 to 2021, the average annual growth rate of value to France amounted to +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+0.6% per year) and Sri Lanka (-16.6% per year).

Export Prices by Country

The average soybean oilcake export price stood at $X per ton in 2021, surging by 47% against the previous year. Overall, the export price continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by 74%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Soybean Oilcake Imports

Imports into Indonesia

In 2021, imports of soybean oilcake into Indonesia rose significantly to X tons, increasing by 7.1% on the previous year's figure. The total import volume increased at an average annual rate of +4.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 13%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, soybean oilcake imports surged to $X in 2021. In general, total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +31.0% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Argentina (X tons), Brazil (X tons) and the United States (X tons) were the main suppliers of soybean oilcake imports to Indonesia, with a combined 97% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +23.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Brazil ($X) and the United States ($X) appeared to be the largest soybean oilcake suppliers to Indonesia, together accounting for 98% of total imports.

Brazil, with a CAGR of +22.2%, 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 oilcake import price stood at $X per ton in 2021, surging by 29% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (-0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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