Report Update Nov 1, 2024

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

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Saudi Arabia: Crude Soybean Oil Market 2024

Crude Soybean Oil Market Size in Saudi Arabia

The Saudi crude soybean oil market declined remarkably to $X in 2022, falling by -15.1% against the previous year. In general, consumption, however, showed a remarkable increase. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Crude Soybean Oil Production in Saudi Arabia

In value terms, crude soybean oil production declined slightly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 40%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Crude Soybean Oil Exports

Exports from Saudi Arabia

In 2022, crude soybean oil exports from Saudi Arabia expanded remarkably to X tons, growing by 13% compared with 2021. In general, exports, however, continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2016 when exports increased by 99%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, crude soybean oil exports declined to $X in 2022. Over the period under review, exports, however, saw a perceptible downturn. The pace of growth was the most pronounced in 2016 when exports increased by 71% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons), Jordan (X tons) and India (X tons) were the main destinations of crude soybean oil exports from Saudi Arabia, together accounting for 98% 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 Jordan (with a CAGR of +66.9%), while the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X), Jordan ($X) and India ($X) constituted the largest markets for crude soybean oil exported from Saudi Arabia worldwide, with a combined 98% share of total exports.

Jordan, with a CAGR of +63.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average crude soybean oil export price stood at $X per ton in 2022, waning by -19.5% against the previous year. Over the period under review, the export price continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2021 an increase of 54% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Jordan ($X per ton), while the average price for exports to India ($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 Egypt (-0.3%), while the prices for the other major destinations experienced a decline.

Crude Soybean Oil Imports

Imports into Saudi Arabia

In 2022, supplies from abroad of crude soybean oil decreased by -9.6% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 613%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, crude soybean oil imports declined notably to $X in 2022. In general, imports showed a mild curtailment. The pace of growth was the most pronounced in 2016 when imports increased by 487%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of crude soybean oil to Saudi Arabia, accounting for a approx. 88% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +37.2%.

In value terms, the United States ($X) constituted the largest supplier of crude soybean oil to Saudi Arabia.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +31.7%.

Import Prices by Country

The average crude soybean oil import price stood at $X per ton in 2022, shrinking by -10.2% against the previous year. Overall, the import price recorded a slight reduction. The pace of growth appeared the most rapid in 2019 an increase of 31%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Italy amounted to +10.4% 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 comprising 64% 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 Saudi Arabia?

In value terms, the United States constituted the largest supplier of crude soybean oil to Saudi Arabia, comprising 81% of total imports. The second position in the ranking was occupied by China, with a 9.7% share of total imports.

What are the leading importers of crude soybean oil from Saudi Arabia?

In value terms, the largest markets for crude soybean oil exported from Saudi Arabia were Jordan, the United Arab Emirates and Malaysia, together accounting for 78% of total exports. These countries were followed by Oman, Bangladesh, India and Yemen, which together accounted for a further 21%.

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

The average crude soybean oil export price stood at $801 per ton in 2020, increasing by 8.8% against the previous year.

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

In 2020, the average crude soybean oil import price amounted to $1,148 per ton, growing by 1.6% against the previous year.

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

Saudi Arabia

Data coverage:

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