Netherlands: Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size in the Netherlands

In 2022, the Dutch refined soybean oil market increased by 210% to $X, rising for the second consecutive year after five years of decline. Overall, consumption recorded tangible growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Refined Soybean Oil Production in the Netherlands

In value terms, refined soybean oil production reduced to $X in 2022 estimated in export price. In general, production continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2016 with an increase of 34% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Refined Soybean Oil Exports

Exports from the Netherlands

After four years of growth, overseas shipments of refined soybean oil and its fractions decreased by -15.2% to X tons in 2022. The total export volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when exports increased by 25%. The exports peaked at X tons in 2021, and then fell dramatically in the following year.

In value terms, refined soybean oil exports reached $X in 2022. Overall, exports, however, showed temperate growth. The pace of growth was the most pronounced in 2021 with an increase of 64% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The UK (X tons), Belgium (X tons) and Germany (X tons) were the main destinations of refined soybean oil exports from the Netherlands, with a combined 68% share of total exports. Ireland, Poland, Trinidad and Tobago, France, Spain and South Africa lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Trinidad and Tobago (with a CAGR of +37.0%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Belgium ($X) and Germany ($X) were the largest markets for refined soybean oil exported from the Netherlands worldwide, together comprising 67% of total exports. Ireland, Trinidad and Tobago, Poland, Spain, France and South Africa lagged somewhat behind, together accounting for a further 21%.

Among the main countries of destination, Trinidad and Tobago, with a CAGR of +38.1%, saw 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 average refined soybean oil export price stood at $X per ton in 2022, growing by 28% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 46%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per ton), while the average price for exports to South Africa ($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 the UK (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Soybean Oil Imports

Imports into the Netherlands

In 2022, approx. X tons of refined soybean oil and its fractions were imported into the Netherlands; increasing by 63% compared with 2021. Overall, imports, however, recorded a pronounced descent. The growth pace was the most rapid in 2018 with an increase of 219% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, refined soybean oil imports skyrocketed to $X in 2022. In general, imports, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2018 with an increase of 142% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of refined soybean oil to the Netherlands, with a 57% share of total imports. Moreover, refined soybean oil imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. Italy (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Spain totaled +88.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-10.8% per year) and Italy (+33.2% per year).

In value terms, Spain ($X) constituted the largest supplier of refined soybean oil and its fractions to the Netherlands, comprising 56% of total imports. The second position in the ranking was held by Germany ($X), with a 15% share of total imports. It was followed by Italy, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Spain amounted to +82.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-10.8% per year) and Italy (+32.1% per year).

Import Prices by Country

The average refined soybean oil import price stood at $X per ton in 2022, growing by 11% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 44% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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