Slovakia: Crude Soybean Oil Market 2025

Crude Soybean Oil Market Size in Slovakia

In 2022, the Slovak crude soybean oil market was finally on the rise to reach $X after three years of decline. Overall, consumption, however, continues to indicate a deep slump. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Crude Soybean Oil Production in Slovakia

In value terms, crude soybean oil production surged to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by 1,335% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Crude Soybean Oil Exports

Exports from Slovakia

For the fourth year in a row, Slovakia recorded growth in overseas shipments of crude soybean oil, which increased by 8.6% to X tons in 2022. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2020 with an increase of 20,836% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, crude soybean oil exports skyrocketed to $X in 2022. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 48,505% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Austria (X tons) was the main destination for crude soybean oil exports from Slovakia, with a 88% share of total exports. Moreover, crude soybean oil exports to Austria exceeded the volume sent to the second major destination, Germany (X tons), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Austria amounted to +188.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-44.8% per year) and Poland (+450.6% per year).

In value terms, Austria ($X) remains the key foreign market for crude soybean oil exports from Slovakia, comprising 89% of total exports. The second position in the ranking was held by Germany ($X), with a 7.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Austria stood at +193.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-47.8% per year) and Poland (+545.3% per year).

Export Prices by Country

In 2022, the average crude soybean oil export price amounted to $X per ton, surging by 25% against the previous year. Over the period under review, the export price continues to indicate pronounced growth. The pace of growth appeared the most rapid in 2016 an increase of 165%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Germany ($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 Poland (+17.2%), while the prices for the other major destinations experienced mixed trend patterns.

Crude Soybean Oil Imports

Imports into Slovakia

In 2022, the amount of crude soybean oil imported into Slovakia skyrocketed to X tons, picking up by 56% on the year before. In general, imports, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2020 with an increase of 378% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, crude soybean oil imports surged to $X in 2022. Over the period under review, imports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2020 with an increase of 394% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Hungary (X tons), Poland (X tons) and Ukraine (X tons) were the main suppliers of crude soybean oil imports to Slovakia, with a combined 94% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ukraine (with a CAGR of +17.3%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Poland ($X), Hungary ($X) and Ukraine ($X) were the largest crude soybean oil suppliers to Slovakia, together accounting for 94% of total imports.

Among the main suppliers, Ukraine, with a CAGR of +20.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average crude soybean oil import price stood at $X per ton in 2022, surging by 50% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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