Tunisia: Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size in Tunisia

The Tunisian refined soybean oil market shrank significantly to $X in 2022, waning by -25.1% against the previous year. In general, consumption continues to indicate a noticeable downturn. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Refined Soybean Oil Production in Tunisia

In value terms, refined soybean oil production fell to $X in 2022 estimated in export price. Over the period under review, production recorded a deep contraction. The growth pace was the most rapid in 2021 when the production volume increased by 36% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Refined Soybean Oil Exports

Exports from Tunisia

For the third consecutive year, Tunisia recorded decline in overseas shipments of refined soybean oil and its fractions, which decreased by 99.9% to X kg in 2022. Over the period under review, exports showed a dramatic shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 66% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, refined soybean oil exports fell sharply to $X in 2022. Overall, exports continue to indicate a significant decrease. The pace of growth was the most pronounced in 2014 with an increase of 48% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Libya (X kg) was the main destination for refined soybean oil exports from Tunisia, accounting for a 83% share of total exports. Moreover, refined soybean oil exports to Libya exceeded the volume sent to the second major destination, France (X kg), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Libya amounted to -70.6%.

In value terms, the largest markets for refined soybean oil exported from Tunisia were France ($X) and Libya ($X). Moreover, refined soybean oil exports in France exceeded the figures recorded by the second-largest exporter, Libya, twofold.

France, with a CAGR of -19.5%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average refined soybean oil export price amounted to $X per ton, picking up by 6.7% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 18% 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 failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Soybean Oil Imports

Imports into Tunisia

In 2022, imports of refined soybean oil and its fractions into Tunisia shrank significantly to X tons, waning by -99.9% against the year before. Overall, imports continue to indicate a dramatic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 494% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, refined soybean oil imports reduced dramatically to $X in 2022. Over the period under review, imports recorded a sharp shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 428% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest supplier of refined soybean oil to Tunisia, accounting for a 71% share of total imports. Moreover, refined soybean oil imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X kg), twofold.

From 2012 to 2022, the average annual growth rate of volume from Italy totaled -40.4%.

In value terms, Italy ($X) constituted the largest supplier of refined soybean oil and its fractions to Tunisia, comprising 94% of total imports. The second position in the ranking was taken by Germany ($X), with a 6.5% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Italy stood at -36.2%.

Import Prices by Country

The average refined soybean oil import price stood at $X per ton in 2022, picking up by 7.7% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 61% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform