Tunisia: Crude Soybean Oil Market 2024

Crude Soybean Oil Market Size in Tunisia

The Tunisian crude soybean oil market soared to $X in 2022, rising by 64% against the previous year. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +74.8% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Crude Soybean Oil Production in Tunisia

In value terms, crude soybean oil production totaled $X in 2022 estimated in export price. Overall, production, however, saw a slight slump. The pace of growth appeared the most rapid in 2018 when the production volume increased by 28%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Crude Soybean Oil Exports

Exports from Tunisia

In 2022, shipments abroad of crude soybean oil was finally on the rise to reach X tons for the first time since 2014, thus ending a seven-year declining trend. In general, exports, however, faced a sharp setback. The pace of growth was the most pronounced in 2014 when exports increased by 697%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, crude soybean oil exports expanded significantly to $X in 2022. Over the period under review, exports, however, showed a precipitous setback. The growth pace was the most rapid in 2014 when exports increased by 607% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Algeria (X tons) was the main destination for crude soybean oil exports from Tunisia, with a 98% share of total exports. It was followed by Libya (X tons), with a 2.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Algeria totaled -27.6%.

In value terms, Algeria ($X) remains the key foreign market for crude soybean oil exports from Tunisia, comprising 95% of total exports. The second position in the ranking was taken by Libya ($X), with a 4.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Algeria stood at -31.9%.

Export Prices by Country

The average crude soybean oil export price stood at $X per ton in 2022, growing by 4.7% against the previous year. Over the period under review, the export price, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2013 an increase of 4.9% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Libya ($X per ton), while the average price for exports to Algeria amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Libya (+8.1%), while the prices for the other major destinations experienced mixed trend patterns.

Crude Soybean Oil Imports

Imports into Tunisia

Crude soybean oil imports into Tunisia soared to X tons in 2022, jumping by 45% against 2021. The total import volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, crude soybean oil imports soared to $X in 2022. Overall, total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons), Russia (X tons) and Algeria (X tons) were the main suppliers of crude soybean oil imports to Tunisia, with a combined 86% share of total imports. Paraguay, the Netherlands, Argentina and Egypt lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Egypt (with a CAGR of +535.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest crude soybean oil suppliers to Tunisia were Turkey ($X), Russia ($X) and Paraguay ($X), together comprising 88% of total imports. Algeria, Argentina, the Netherlands and Egypt lagged somewhat behind, together accounting for a further 11%.

Among the main suppliers, Egypt, with a CAGR of +412.7%, saw the highest growth rate of 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

In 2022, the average crude soybean oil import price amounted to $X per ton, with an increase of 49% against the previous year. Overall, the import price continues to indicate a noticeable expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform