Benelux: Soybean Oil Market 2024

Soybean Oil Market Size in Benelux

The Benelux soybean oil market dropped to $X in 2023, reducing by X% against the previous year. Over the period under review, consumption, however, posted a moderate increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2023, consumption stood at a somewhat lower figure.

Soybean Oil Production in Benelux

In value terms, soybean oil production declined to $X in 2023 estimated in export price. In general, production, however, saw noticeable growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.

Soybean Oil Exports

Exports in Benelux

Soybean oil exports contracted to X tons in 2023, declining by X% on 2022. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

In value terms, soybean oil exports dropped sharply to $X in 2023. In general, exports, however, recorded a perceptible expansion. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then fell sharply in the following year.

Exports by Country

The Netherlands prevails in exports structure, reaching X tons, which was near X% of total exports in 2023. It was distantly followed by Belgium (X tons), creating a X% share of total exports.

The Netherlands was also the fastest-growing in terms of the soybean oil exports, with a CAGR of X% from 2012 to 2023. Belgium (X%) illustrated a downward trend over the same period. While the share of the Netherlands (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Belgium (X p.p.) displayed negative dynamics.

In value terms, the Netherlands ($X) remains the largest soybean oil supplier in Benelux, comprising X% of total exports. The second position in the ranking was taken by Belgium ($X), with a X% share of total exports.

In the Netherlands, soybean oil exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2023, declining by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2022, and then contracted markedly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Belgium (X%).

Soybean Oil Imports

Imports in Benelux

In 2023, after two years of decline, there was significant growth in purchases abroad of soybean oil, when their volume increased by X% to X tons. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports attained the peak of X tons. From 2019 to 2023, the growth of imports failed to regain momentum.

In value terms, soybean oil imports amounted to $X in 2023. Total imports indicated slight growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2022 when imports increased by X%. Over the period under review, imports reached the peak figure in 2023 and are expected to retain growth in the near future.

Imports by Country

The Netherlands was the key importer of soybean oil in Benelux, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2023. It was distantly followed by Belgium (X tons), committing a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Netherlands (with a CAGR of X%).

In value terms, the largest soybean oil importing markets in Benelux were the Netherlands ($X) and Belgium ($X).

The Netherlands, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review.

Import Prices by Country

The import price in Benelux stood at $X per ton in 2023, falling by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2022, and then contracted markedly in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Belgium totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%).

Source: IndexBox Platform