Report Update Nov 1, 2024

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

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Russian Federation: Crude Soybean Oil Market 2024

Crude Soybean Oil Market Size in the Russian Federation

The Russian crude soybean oil market plummeted to $X in 2022, declining by -15.8% against the previous year. In general, consumption recorded a perceptible reduction. Crude soybean oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Crude Soybean Oil Production in the Russian Federation

In value terms, crude soybean oil production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when the production volume increased by 32% against the previous year. Crude soybean oil production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Crude Soybean Oil Exports

Exports from the Russian Federation

In 2022, the amount of crude soybean oil exported from Russia skyrocketed to X tons, growing by 15% compared with the previous year. In general, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 105%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude soybean oil exports shrank to $X in 2022. Over the period under review, exports posted a remarkable increase. The pace of growth appeared the most rapid in 2014 when exports increased by 69% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then fell in the following year.

Exports by Country

Egypt (X tons), Algeria (X tons) and China (X tons) were the main destinations of crude soybean oil exports from Russia, together accounting for 94% of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +44.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crude soybean oil exported from Russia were Egypt ($X), Algeria ($X) and China ($X), with a combined 94% share of total exports.

China, with a CAGR of +42.0%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the average crude soybean oil export price amounted to $X per ton, reducing by -20.6% against the previous year. Over the period under review, the export price showed a pronounced setback. The most prominent rate of growth was recorded in 2021 when the average export price increased by 58%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to China ($X per ton) and Finland ($X per ton), while the average price for exports to Egypt ($X per ton) and Algeria ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tunisia (-0.5%), while the prices for the other major destinations experienced a decline.

Crude Soybean Oil Imports

Imports into the Russian Federation

Crude soybean oil imports into Russia soared to X tons in 2022, picking up by 17% on 2021. Overall, imports showed noticeable growth. The pace of growth appeared the most rapid in 2018 when imports increased by 154% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, crude soybean oil imports shrank to $X in 2022. Over the period under review, total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +113.3% against 2018 indices. The growth pace was the most rapid in 2020 with an increase of 46% against the previous year. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Belarus (X tons) was the main supplier of crude soybean oil to Russia, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belarus amounted to +12.6%.

In value terms, Belarus ($X) constituted the largest supplier of crude soybean oil to Russia.

From 2012 to 2022, the average annual rate of growth in terms of value from Belarus totaled +20.9%.

Import Prices by Country

In 2022, the average crude soybean oil import price amounted to $X per ton, dropping by -19.6% against the previous year. Over the period under review, the import price recorded a slight decline. The pace of growth was the most pronounced in 2017 an increase of 152% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Belarus.

From 2012 to 2022, the rate of growth in terms of prices for Austria amounted to +79.4% per year.

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, with a combined 63% share 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, together accounting for 64% of global production. Argentina, India and Mexico lagged somewhat behind, together accounting for a further 17%.

What are the leading suppliers of crude soybean oil to the Russian Federation?

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

What are the leading importers of crude soybean oil from the Russian Federation?

In value terms, China remains the key foreign market for crude soybean oil exports from Russia, comprising 54% of total exports. The second position in the ranking was occupied by Algeria, with a 25% share of total exports. It was followed by India, with a 7.4% share.

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

The average crude soybean oil export price stood at $716 per ton in 2020, increasing by 11% against the previous year.

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

The average crude soybean oil import price stood at $766 per ton in 2020, picking up by 23% against the previous year.

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

Russia

Data coverage:

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

Reasons to buy this report:

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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
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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