Pakistan: Soybean Oil Market 2025

Soybean Oil Market Size in Pakistan

In 2022, the Pakistani soybean oil market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption showed a prominent increase. Soybean oil consumption peaked in 2022 and is expected to retain growth in the near future.

Soybean Oil Production in Pakistan

In value terms, soybean oil production reached $X in 2022 estimated in export price. Over the period under review, production recorded a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 116% against the previous year. Soybean oil production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Soybean Oil Exports

Exports from Pakistan

In 2021, overseas shipments of soybean oil increased by 18% to X tons, rising for the second consecutive year after six years of decline. Overall, exports showed a modest increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, soybean oil exports surged to $X in 2021. Over the period under review, exports continue to indicate a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Afghanistan (X tons) was the main destination for soybean oil exports from Pakistan, accounting for a 96% share of total exports. Moreover, soybean oil exports to Afghanistan exceeded the volume sent to the second major destination, Angola (X tons), more than tenfold.

From 2013 to 2021, the average annual rate of growth in terms of volume to Afghanistan totaled +15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (0.0% per year) and Bahrain (-94.0% per year).

In value terms, Afghanistan ($X) remains the key foreign market for soybean oil exports from Pakistan, comprising 96% of total exports. The second position in the ranking was held by Angola ($X), with a 4.1% share of total exports.

From 2013 to 2021, the average annual rate of growth in terms of value to Afghanistan amounted to +28.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (0.0% per year) and Bahrain (-84.5% per year).

Export Prices by Country

In 2021, the average soybean oil export price amounted to $X per ton, surging by 11% against the previous year. Overall, the export price enjoyed strong growth. The growth pace was the most rapid in 2016 an increase of 20% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Afghanistan ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (+158.6%), while the prices for the other major destinations experienced more modest paces of growth.

Soybean Oil Imports

Imports into Pakistan

After two years of decline, overseas purchases of soybean oil increased by 162% to X tons in 2022. Over the period under review, imports saw a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, soybean oil imports soared to $X in 2022. Overall, imports saw a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Argentina (X tons) constituted the largest soybean oil supplier to Pakistan, with a 63% share of total imports. Moreover, soybean oil imports from Argentina exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Argentina stood at +13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+21.0% per year) and the United States (+66.9% per year).

In value terms, Argentina ($X) constituted the largest supplier of soybean oil to Pakistan, comprising 69% of total imports. The second position in the ranking was taken by Brazil ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Argentina amounted to +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+25.8% per year) and the United States (+58.1% per year).

Import Prices by Country

The average soybean oil import price stood at $X per ton in 2022, rising by 26% against the previous year. Over the period under review, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, soybean oil import price increased by +112.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 68% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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