Romania: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Romania

After two years of decline, the Romanian soybean oilcake market increased by 23% to $X in 2021. Over the period under review, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2021 and is likely to see gradual growth in years to come.

Soybean Oilcake Production in Romania

In value terms, soybean oilcake production surged to $X in 2021 estimated in export price. Over the period under review, production recorded a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 41% against the previous year. Soybean oilcake production peaked in 2021 and is likely to continue growth in the immediate term.

Soybean Oilcake Exports

Exports from Romania

In 2021, shipments abroad of soybean oilcake decreased by -0.2% to X tons, falling for the second consecutive year after two years of growth. Overall, total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -1.3% against 2019 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 18% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, soybean oilcake exports skyrocketed to $X in 2021. In general, total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +98.0% against 2017 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 32%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Bulgaria (X tons) was the main destination for soybean oilcake exports from Romania, with a 50% share of total exports. Moreover, soybean oilcake exports to Bulgaria exceeded the volume sent to the second major destination, Germany (X tons), threefold. Moldova (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bulgaria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+35.9% per year) and Moldova (+32.1% per year).

In value terms, Bulgaria ($X) remains the key foreign market for soybean oilcake exports from Romania, comprising 47% of total exports. The second position in the ranking was held by Germany ($X), with a 21% share of total exports. It was followed by Moldova, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Bulgaria totaled +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+28.2% per year) and Moldova (+28.8% per year).

Export Prices by Country

The average soybean oilcake export price stood at $X per ton in 2021, surging by 25% against the previous year. In general, export price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soybean oilcake export price increased by +47.5% against 2019 indices. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Serbia ($X per ton) and Germany ($X per ton), while the average price for exports to Israel ($X per ton) and Georgia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Soybean Oilcake Imports

Imports into Romania

In 2021, approx. X tons of soybean oilcake were imported into Romania; growing by 1.7% on the previous year's figure. The total import volume increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 47% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, soybean oilcake imports surged to $X in 2021. Over the period under review, total imports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +15.5% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 39% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Brazil (X tons) constituted the largest soybean oilcake supplier to Romania, with a 64% share of total imports. Moreover, soybean oilcake imports from Brazil exceeded the figures recorded by the second-largest supplier, Argentina (X tons), threefold. The third position in this ranking was held by Egypt (X tons), with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+10.9% per year) and Egypt (+224.1% per year).

In value terms, Brazil ($X) constituted the largest supplier of soybean oilcake to Romania, comprising 64% of total imports. The second position in the ranking was held by Argentina ($X), with a 22% share of total imports. It was followed by Hungary, with a 4.3% share.

From 2012 to 2021, the average annual growth rate of value from Brazil stood at +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+7.9% per year) and Hungary (-1.2% per year).

Import Prices by Country

The average soybean oilcake import price stood at $X per ton in 2021, surging by 29% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+38.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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