Southern Asia: Crude Soybean Oil Market 2025

Crude Soybean Oil Market Size in Southern Asia

In 2022, the South Asian crude soybean oil market increased by 21% to $X, rising for the third consecutive year after two years of decline. The total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +75.9% against 2019 indices. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Crude Soybean Oil Production in Southern Asia

In value terms, crude soybean oil production totaled $X in 2022 estimated in export price. Overall, production, however, saw a noticeable decrease. The growth pace was the most rapid in 2017 with an increase of 85%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Crude Soybean Oil Exports

Exports in Southern Asia

In 2022, overseas shipments of crude soybean oil decreased by -37.2% to X tons, falling for the second consecutive year after nine years of growth. Overall, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 358% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, crude soybean oil exports fell remarkably to $X in 2022. Over the period under review, exports, however, saw a significant increase. The growth pace was the most rapid in 2015 when exports increased by 375% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Nepal prevails in exports structure, finishing at X tons, which was near 93% of total exports in 2022. It was distantly followed by India (X tons), mixing up a 6.9% share of total exports.

Exports from Nepal increased at an average annual rate of +26.7% from 2012 to 2022. At the same time, India (+82.4%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +82.4% from 2012-2022. From 2012 to 2022, the share of India increased by +6.7 percentage points.

In value terms, Nepal ($X) remains the largest crude soybean oil supplier in Southern Asia, comprising 90% of total exports. The second position in the ranking was held by India ($X), with a 9.5% share of total exports.

In Nepal, crude soybean oil exports expanded at an average annual rate of +29.2% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, increasing by 6.2% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2019 an increase of 11%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Nepal totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.3%).

Crude Soybean Oil Imports

Imports in Southern Asia

In 2022, imports of crude soybean oil in Southern Asia soared to X tons, with an increase of 16% against the year before. In general, imports enjoyed a prominent increase. The growth pace was the most rapid in 2015 when imports increased by 71% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, crude soybean oil imports skyrocketed to $X in 2022. Over the period under review, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 52% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

India represented the key importing country with an import of about X tons, which recorded 75% of total imports. It was distantly followed by Bangladesh (X tons) and Nepal (X tons), together achieving a 21% share of total imports. Pakistan (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to crude soybean oil imports into India stood at +13.3%. At the same time, Pakistan (+16.5%) and Nepal (+11.4%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +16.5% from 2012-2022. Bangladesh experienced a relatively flat trend pattern. While the share of India (+21 p.p.) and Pakistan (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Bangladesh (-23.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported crude soybean oil in Southern Asia, comprising 83% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 9.5% share of total imports. It was followed by Pakistan, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled +15.7%. In the other countries, the average annual rates were as follows: Bangladesh (-3.1% per year) and Pakistan (+17.9% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, increasing by 15% against the previous year. Import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude soybean oil import price increased by +102.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 60%. Over the period under review, import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :