Netherlands: Soybean Oil Market 2024

Soybean Oil Market Size in the Netherlands

For the third year in a row, the Dutch soybean oil market recorded growth in sales value, which increased by 100% to $X in 2022. In general, consumption saw a prominent expansion. Soybean oil consumption peaked in 2022 and is likely to continue growth in the immediate term.

Soybean Oil Production in the Netherlands

In value terms, soybean oil production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a perceptible reduction. The growth pace was the most rapid in 2016 when the production volume increased by 34% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Soybean Oil Exports

Exports from the Netherlands

In 2022, approx. X tons of soybean oil were exported from the Netherlands; with a decrease of -16.3% on 2021. Overall, total exports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -19.9% against 2020 indices. The growth pace was the most rapid in 2015 when exports increased by 47%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, soybean oil exports totaled $X in 2022. In general, total exports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 42% 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

Germany (X tons), the UK (X tons) and Belgium (X tons) were the main destinations of soybean oil exports from the Netherlands, with a combined 64% share of total exports. Ireland, Spain, Poland, Morocco, France, South Africa and Algeria lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +43.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soybean oil exported from the Netherlands were the UK ($X), Germany ($X) and Belgium ($X), with a combined 63% share of total exports. Ireland, Spain, Morocco, Poland, France, Algeria and South Africa lagged somewhat behind, together comprising a further 24%.

Spain, with a CAGR of +42.5%, saw the highest growth rate of the value of exports, among 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

The average soybean oil export price stood at $X per ton in 2022, surging by 32% against the previous year. In general, the export price showed a slight increase. The pace of growth appeared the most rapid in 2021 when the average export price increased by 48% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to South Africa ($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 Germany (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Soybean Oil Imports

Imports into the Netherlands

In 2022, overseas purchases of soybean oil were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 60% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, soybean oil imports soared to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Poland (X tons), Germany (X tons) and Romania (X tons) were the main suppliers of soybean oil imports to the Netherlands, with a combined 48% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +211.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Germany ($X) and Italy ($X) appeared to be the largest soybean oil suppliers to the Netherlands, together comprising 47% of total imports. Spain, Belgium, Russia, Norway, Romania, Serbia, France and Paraguay lagged somewhat behind, together comprising a further 46%.

In terms of the main suppliers, Romania, with a CAGR of +193.4%, recorded the highest rates of growth with regard to the value of imports, 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, growing by 8.6% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 56%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Serbia ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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