Report Update Nov 1, 2024

New Zealand - Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights

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New Zealand: Soybean Oil Market 2024

Soybean Oil Market Size in New Zealand

In 2022, the New Zealand soybean oil market increased by 51% to $X, rising for the second consecutive year after two years of decline. In general, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +55.9% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Soybean Oil Exports

Exports from New Zealand

In 2022, the amount of soybean oil exported from New Zealand soared to X tons, increasing by 32% on the previous year's figure. In general, exports, however, faced a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of 903%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, soybean oil exports skyrocketed to $X in 2022. Overall, exports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 225%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Cook Islands (X tons), Australia (X tons) and Samoa (X tons) were the main destinations of soybean oil exports from New Zealand, together accounting for 92% of total exports.

From 2012 to 2022, the biggest increases were recorded for Samoa (with a CAGR of +69.4%), while shipments for the other leaders experienced a decline.

In value terms, Cook Islands ($X) emerged as the key foreign market for soybean oil exports from New Zealand, comprising 46% of total exports. The second position in the ranking was taken by Australia ($X), with a 17% share of total exports. It was followed by Niue, with a 16% share.

From 2012 to 2022, the average annual growth rate of value to Cook Islands was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-23.0% per year) and Niue (+10.0% per year).

Export Prices by Country

The average soybean oil export price stood at $X per ton in 2022, increasing by 46% against the previous year. In general, the export price enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 245%. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Niue ($X per ton), while the average price for exports to Australia ($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 Niue (+19.5%), while the prices for the other major destinations experienced mixed trend patterns.

Soybean Oil Imports

Imports into New Zealand

In 2022, supplies from abroad of soybean oil was finally on the rise to reach X tons after three years of decline. Overall, imports, however, saw a slight contraction. The pace of growth appeared the most rapid in 2015 with an increase of 15% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, 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 perceptible expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of soybean oil to New Zealand, accounting for a 83% share of total imports. Moreover, soybean oil imports from Malaysia exceeded the figures recorded by the second-largest supplier, Spain (X tons), eightfold. The Netherlands (X tons) ranked third in terms of total imports with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia amounted to +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+64.3% per year) and the Netherlands (+18.4% per year).

In value terms, Malaysia ($X) constituted the largest supplier of soybean oil to New Zealand, comprising 77% of total imports. The second position in the ranking was held by Spain ($X), with a 12% share of total imports. It was followed by the Netherlands, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia stood at +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+78.7% per year) and the Netherlands (+28.6% per year).

Import Prices by Country

The average soybean oil import price stood at $X per ton in 2022, surging by 58% against the previous year. Over the period under review, the import price continues to indicate tangible growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for soybean oil in the world?

The countries with the highest volumes of in 2021 were China, the United States and Brazil, together comprising 59% of global consumption. India, Argentina, Nigeria and Bangladesh lagged somewhat behind, together accounting for a further 19%.

What are the largest producers of soybean oil in the world?

The countries with the highest volumes of in 2021 were China, Brazil and the United States, with a combined 64% share of global production.

What are the leading suppliers of soybean oil to New Zealand?

In value terms, Malaysia constituted the largest supplier of soybean oil to New Zealand, comprising 76% of total imports. The second position in the ranking was occupied by Spain, with an 18% share of total imports.

What are the leading importers of soybean oil from New Zealand?

In value terms, Australia, Cook Islands and Niue appeared to be the largest markets for soybean oil exported from New Zealand worldwide, together accounting for 100% of total exports.

What is the average export price for soybean oil in New Zealand?

The average soybean oil export price stood at $2,168 per ton in 2021, with an increase of 135% against the previous year.

What is the average import price for soybean oil in New Zealand?

In 2021, the average soybean oil import price amounted to $1,335 per ton, jumping by 31% against the previous year.

This report provides an in-depth analysis of the soybean oil market in New Zealand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 237 - Oil of Soybeans

Country coverage:

New Zealand

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in New Zealand
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023