Israel: Refined Soybean Oil Market 2025

Refined Soybean Oil Market Size in Israel

In 2022, the Israeli refined soybean oil market increased by 9.6% to $X, rising for the second consecutive year after four years of decline. In general, consumption, however, saw a relatively flat trend pattern. Refined soybean oil consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Refined Soybean Oil Production in Israel

In value terms, refined soybean oil production shrank to $X in 2022 estimated in export price. In general, production continues to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2015 with an increase of 73% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Refined Soybean Oil Exports

Exports from Israel

After three years of growth, overseas shipments of refined soybean oil and its fractions decreased by 99.9% to X kg in 2022. In general, exports recorded a dramatic curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 9,673%. Over the period under review, the exports attained the maximum at X tons in 2021, and then reduced remarkably in the following year.

In value terms, refined soybean oil exports dropped significantly to $X in 2022. Overall, exports continue to indicate a sharp curtailment. The pace of growth was the most pronounced in 2019 when exports increased by 8,718%. The exports peaked at $X in 2021, and then reduced notably in the following year.

Exports by Country

The United States (X kg) was the main destination for refined soybean oil exports from Israel, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at -9.4%.

In value terms, the United States ($X) emerged as the key foreign market for refined soybean oil and its fractions exports from Israel.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at -5.6%.

Export Prices by Country

The average refined soybean oil export price stood at $X per ton in 2022, with an increase of 84% against the previous year. In general, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined soybean oil export price increased by +87.8% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +4.2% per year.

Refined Soybean Oil Imports

Imports into Israel

In 2022, overseas purchases of refined soybean oil and its fractions decreased by -13% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by 261%. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, refined soybean oil imports rose significantly to $X in 2022. Overall, imports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 376% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Spain (X tons) constituted the largest refined soybean oil supplier to Israel, accounting for a 47% share of total imports. Moreover, refined soybean oil imports from Spain exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was taken by Ukraine (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Spain totaled +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+28.0% per year) and Ukraine (+30.8% per year).

In value terms, Spain ($X) constituted the largest supplier of refined soybean oil and its fractions to Israel, comprising 47% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 16% share of total imports. It was followed by Ukraine, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain amounted to +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+28.6% per year) and Ukraine (+35.3% per year).

Import Prices by Country

The average refined soybean oil import price stood at $X per ton in 2022, growing by 31% against the previous year. Over the period under review, import price indicated a measured increase 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, refined soybean oil import price increased by +98.6% against 2016 indices. The pace of growth appeared the most rapid in 2021 an increase of 32%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Argentina ($X per ton) and Ukraine ($X per ton), while the price for Belgium ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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