Report Update Nov 1, 2024

Norway - Crude Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights

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Norway: Crude Soybean Oil Market 2024

Crude Soybean Oil Market Size in Norway

In 2022, the Norwegian crude soybean oil market increased by 148% to $X, rising for the second consecutive year after two years of decline. Overall, consumption saw a prominent expansion. Crude soybean oil consumption peaked in 2022 and is expected to retain growth in the immediate term.

Crude Soybean Oil Production in Norway

In value terms, crude soybean oil production amounted to $X in 2022 estimated in export price. In general, production continues to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 5.4% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Crude Soybean Oil Exports

Exports from Norway

In 2022, shipments abroad of crude soybean oil decreased by -17.2% to X tons, falling for the second year in a row after two years of growth. Overall, exports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2019 when exports increased by 20% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, crude soybean oil exports rose rapidly to $X in 2022. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 41%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X tons), Denmark (X tons) and the Netherlands (X tons) were the main destinations of crude soybean oil exports from Norway, together accounting for 100% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of +5.3%), while the other leaders experienced mixed trend patterns.

In value terms, Sweden ($X), Denmark ($X) and the Netherlands ($X) constituted the largest markets for crude soybean oil exported from Norway worldwide, with a combined 100% share of total exports.

Among the main countries of destination, Denmark, with a CAGR of +7.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average crude soybean oil export price stood at $X per ton in 2022, jumping by 30% against the previous year. In general, the export price recorded temperate growth. The most prominent rate of growth was recorded in 2021 an increase of 59% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to the Netherlands ($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 Sweden (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Soybean Oil Imports

Imports into Norway

In 2022, after two years of decline, there was significant growth in supplies from abroad of crude soybean oil, when their volume increased by 518% to X tons. Overall, imports saw significant growth. The pace of growth was the most pronounced in 2019 when imports increased by 36,259%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, crude soybean oil imports soared to $X in 2022. Over the period under review, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 16,619%. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of crude soybean oil to Norway, with a 86% share of total imports. Moreover, crude soybean oil imports from Russia exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia stood at -21.2%.

In value terms, Russia ($X) constituted the largest supplier of crude soybean oil to Norway, comprising 87% of total imports. The second position in the ranking was taken by Lithuania ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia amounted to -4.7%.

Import Prices by Country

In 2022, the average crude soybean oil import price amounted to $X per ton, falling by -9% against the previous year. In general, the import price showed a pronounced setback. The growth pace was the most rapid in 2016 an increase of 531% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Lithuania amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+21.0%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

The countries with the highest volumes of crude soybean oil consumption in 2020 were China, Brazil and the United States, together comprising 63% of global consumption. These countries were followed by India, Argentina, Mexico and Bangladesh, which together accounted for a further 16%.

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

The countries with the highest volumes of crude soybean oil production in 2020 were China, Brazil and the United States, with a combined 64% share of global production. These countries were followed by Argentina, India and Mexico, which together accounted for a further 17%.

What are the leading suppliers of crude soybean oil to Norway?

In value terms, Russia constituted the largest supplier of crude soybean oil to Norway.

What are the leading importers of crude soybean oil from Norway?

In value terms, Denmark, Sweden and the Netherlands appeared to be the largest markets for crude soybean oil exported from Norway worldwide, together accounting for 82% of total exports.

What is the average export price for crude soybean oil in Norway?

In 2020, the average crude soybean oil export price amounted to $764 per ton, rising by 4.5% against the previous year.

What is the average import price for crude soybean oil in Norway?

In 2020, the average crude soybean oil import price amounted to $863 per ton, which is down by -20.4% against the previous year.

This report provides an in-depth analysis of the crude soybean oil market in Norway. 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:

Norway

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Norway
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
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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