MENA: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in MENA

In 2023, the MENA's soybean oilcake market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption continues to indicate a strong increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Soybean Oilcake Production in MENA

In value terms, soybean oilcake production amounted to $X in 2023 estimated in export price. Over the period under review, production showed a prominent expansion. The growth pace was the most rapid in 2018 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Soybean Oilcake Exports

Exports in MENA

Soybean oilcake exports skyrocketed to X tons in 2023, picking up by X% against 2022. Over the period under review, exports posted a significant expansion. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, soybean oilcake exports soared to $X in 2023. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

Turkey was the main exporter of soybean oilcake in MENA, with the volume of exports resulting at X tons, which was near X% of total exports in 2023. It was distantly followed by the United Arab Emirates (X tons), achieving a X% share of total exports. Syrian Arab Republic (X tons) held a relatively small share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Turkey (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the largest soybean oilcake supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

In Turkey, soybean oilcake exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Syrian Arab Republic (X% per year).

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, reducing by X% against the previous year. Export price indicated a slight increase from 2012 to 2023: its price 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, soybean oilcake export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Soybean Oilcake Imports

Imports in MENA

In 2023, purchases abroad of soybean oilcake increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, soybean oilcake imports amounted to $X in 2023. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Turkey (X tons), Iran (X tons), Egypt (X tons), Iraq (X tons) and Morocco (X tons) represented roughly X% of total imports in 2023. It was distantly followed by Saudi Arabia (X tons), creating a X% share of total imports. Yemen (X tons), Israel (X tons), Algeria (X tons), Jordan (X tons), the United Arab Emirates (X tons), Libya (X tons) and Oman (X tons) took a little share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iraq (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest soybean oilcake importing markets in MENA were Turkey ($X), Iran ($X) and Egypt ($X), with a combined X% share of total imports. Morocco, Iraq, Saudi Arabia, Israel, Yemen, Algeria, Jordan, the United Arab Emirates, Libya and Oman lagged somewhat behind, together accounting for a further X%.

Iraq, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2022, and then shrank in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Egypt ($X per ton) and Israel ($X per ton), while Yemen ($X per ton) and Algeria ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform