Slovakia: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Slovakia

The Slovak soybean oilcake market fell to $X in 2021, with a decrease of -5.4% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Soybean Oilcake Production in Slovakia

In value terms, soybean oilcake production contracted markedly to $X in 2021 estimated in export price. Overall, production saw a mild downturn. The most prominent rate of growth was recorded in 2020 with an increase of 45% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Soybean Oilcake Exports

Exports from Slovakia

After two years of growth, overseas shipments of soybean oilcake decreased by -39.3% to X tons in 2021. In general, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 890%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, soybean oilcake exports plummeted to $X in 2021. Overall, exports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2019 with an increase of 817% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Hungary (X tons) was the main destination for soybean oilcake exports from Slovakia, accounting for a 82% share of total exports. Moreover, soybean oilcake exports to Hungary exceeded the volume sent to the second major destination, the Czech Republic (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hungary amounted to +28.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+22.3% per year) and Poland (-21.7% per year).

In value terms, Hungary ($X) remains the key foreign market for soybean oilcake exports from Slovakia, comprising 81% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Hungary stood at +28.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+30.5% per year) and Poland (-21.7% per year).

Export Prices by Country

The average soybean oilcake export price stood at $X per ton in 2021, rising by 25% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+6.7%), while the prices for the other major destinations experienced mixed trend patterns.

Soybean Oilcake Imports

Imports into Slovakia

In 2021, approx. X tons of soybean oilcake were imported into Slovakia; growing by 21% compared with the year before. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 27% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, soybean oilcake imports surged to $X in 2021. Overall, imports showed a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Czech Republic (X tons), Slovenia (X tons) and Poland (X tons) were the main suppliers of soybean oilcake imports to Slovakia, together comprising 60% of total imports. These countries were followed by Germany, Austria, Hungary, Belgium and the Netherlands, which together accounted for a further 39%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +71.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Slovenia ($X) and Poland ($X) were the largest soybean oilcake suppliers to Slovakia, together comprising 57% of total imports. Germany, Austria, Hungary, Belgium and the Netherlands lagged somewhat behind, together accounting for a further 41%.

Belgium, with a CAGR of +75.1%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average soybean oilcake import price amounted to $X per ton, increasing by 8.2% against the previous year. Over the period under review, the import price, however, showed a slight slump. The pace of growth was the most pronounced in 2013 an increase of 13%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :