Report Update Jan 1, 2025

Sri Lanka - Refined Soybean Oil and Its Fractions - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Sri Lanka: Refined Soybean Oil Market 2025

Refined Soybean Oil Market Size in Sri Lanka

The Sri Lankan refined soybean oil market contracted to $X in 2022, waning by -6.9% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Refined Soybean Oil Production in Sri Lanka

In value terms, refined soybean oil production contracted to $X in 2022 estimated in export price. Over the period under review, the total production indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.0% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 50%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Refined Soybean Oil Exports

Exports from Sri Lanka

In 2022, the amount of refined soybean oil and its fractions exported from Sri Lanka surged to X tons, jumping by 2,036% on the year before. Overall, exports, however, continue to indicate a deep contraction. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, refined soybean oil exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a deep setback. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Australia (X tons) was the main destination for refined soybean oil exports from Sri Lanka, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Australia stood at -5.2%.

In value terms, Australia ($X) emerged as the key foreign market for refined soybean oil and its fractions exports from Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia totaled -5.3%.

Export Prices by Country

The average refined soybean oil export price stood at $X per ton in 2022, reducing by -67.5% against the previous year. Overall, the export price saw a noticeable descent. The pace of growth appeared the most rapid in 2018 when the average export price increased by 78%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Australia.

From 2012 to 2022, the rate of growth in terms of prices for Australia amounted to -0.0% per year.

Refined Soybean Oil Imports

Imports into Sri Lanka

In 2022, approx. X tons of refined soybean oil and its fractions were imported into Sri Lanka; shrinking by -37.9% against the previous year. Over the period under review, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +3.1% 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 +2.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 64% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, refined soybean oil imports dropped markedly to $X in 2022. In general, imports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2021 with an increase of 149% against the previous year. As a result, imports attained the peak of $X, and then contracted significantly in the following year.

Imports by Country

Malaysia (X tons), Italy (X tons) and India (X tons) were the main suppliers of refined soybean oil imports to Sri Lanka, with a combined 99.9% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +26.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined soybean oil suppliers to Sri Lanka were Malaysia ($X), Italy ($X) and India ($X), with a combined 99.9% share of total imports.

Italy, with a CAGR of +28.6%, saw the highest growth rate of the value of imports, in terms of 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 2022, the average refined soybean oil import price amounted to $X per ton, rising by 21% against the previous year. Overall, the import price recorded a pronounced increase. The most prominent rate of growth was recorded in 2021 an increase of 51% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined soybean oil and its fractions in the world?

The countries with the highest volumes of refined soybean oil consumption in 2020 were China, the United States and India, together comprising 30% of global consumption. These countries were followed by Mauritania, Japan, Russia, Indonesia, Italy, Brazil, the UK, Pakistan, Bangladesh and Germany, which together accounted for a further 27%.

What are the largest producers of refined soybean oil and its fractions in the world?

The countries with the highest volumes of refined soybean oil production in 2020 were China, the United States and India, together comprising 31% of global production. Brazil, Japan, Russia, the Netherlands, Indonesia, Pakistan, Germany, Bangladesh, the UK and Italy lagged somewhat behind, together accounting for a further 27%.

What are the leading suppliers of refined soybean oil and its fractions to Sri Lanka?

In value terms, Malaysia constituted the largest supplier of refined soybean oil to Sri Lanka, comprising 55% of total imports. The second position in the ranking was occupied by Italy, with a 25% share of total imports. It was followed by Belgium, with a 14% share.

What are the leading importers of refined soybean oil and its fractions from Sri Lanka?

In value terms, Qatar remains the key foreign market for refined soybean oil exports from Sri Lanka, comprising 82% of total exports. The second position in the ranking was occupied by Australia, with a 16% share of total exports.

What is the average export price for refined soybean oil and its fractions in Sri Lanka?

In 2020, the average refined soybean oil export price amounted to $1,376 per ton, shrinking by -2.1% against the previous year.

What is the average import price for refined soybean oil and its fractions in Sri Lanka?

The average refined soybean oil import price stood at $1,295 per ton in 2020, with an increase of 14% against the previous year.

This report provides an in-depth analysis of the refined soybean oil market in Sri Lanka. 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:

Prodcom 10415100 - Refined soya-bean oil and its fractions (excluding chemically modified)

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
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 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
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 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
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, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024