Soybean oil and fractions market in Austria

Earlier Report Observations

The soybean oil market in Austria expanded from 24 775 t in 2018 to 35 702 t in 2022. This growth was initially supported by domestic non-GMO soybean cultivation and the EU's protein plan to boost plant-based protein self-sufficiency, which encouraged local production and consumption. Rising consumer preference for genetically unmodified and sustainably sourced products further accelerated market volume by 2022.

In 2023, the market size contracted to 30 986 t, despite a record national soybean harvest that increased production to 34 600 t. The decline was primarily due to a sharp fall in imports, influenced by the upcoming EU Deforestation Regulation, which imposed stricter traceability and deforestation-free requirements on soy supply chains from 2024/2025 onward.

Production soybean oil and fractions in Austria

In kind, 2017-2020, t

Top producers of soybean oil and fractions, 2017-2020

World map of production of soybean oil and fractions, 2017-2020

Austria's production of soybean oil and fractions has grown for the third year in a row. In 2020, the country produced 29 500 tonnes, marking a significant 10.9% increase from the previous year. Looking at the period from 2017 to 2020, production surged by 145.3%, which translates to an average annual growth rate of 34.9%.

Annual dynamics of production in Austria in kind, 2017-2020, t

In value, 2017-2020, K $ US

The market displayed considerable volatility during these years. Production value hit its lowest point in 2017 and peaked in 2020, with a 2.6-fold difference between these two years. In 2020, the output of soybean oil and fractions was valued at 28 090 thousand US dollars in Austria, up by 31.0% compared to 2019. The most substantial decline occurred in 2019, at 1.2%, while the largest increase was recorded in 2018, with a jump of 98.2%.

Annual dynamics of production in Austria in value, 2017-2020, K $ US

Exports soybean oil and fractions from Austria

Exports in kind, t

In 2020, Austria exported 7 614 tonnes of soybean oil and fractions, down by 18.9% from the previous year. Between 2017 and 2020, exports fell by 14.8%, equating to an annualized decline of 5.2%. The highest export volume was in 2019, at 9 382 tonnes, which also saw the largest increase of 14.6%.

Annual dynamics of product's exports from Austria in kind, 2017-2020, t

From 2017 to 2020, Germany, Czechia, and the Netherlands were the key partners for Austria's exports in kind. Germany accounted for 39.7% of exports, Czechia for 33.8%, and the Netherlands for 8.0%, together making up 81.4% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Austria in kind, 2017-2020

Exports in value, K $ US

In 2020, soybean oil and fractions shipments from Austria abroad totaled 7 250 thousand US dollars, a 4.2% decrease compared to 2019. Over the period from 2017 to 2020, exports dropped by 10.9%, with an annualized rate of decline of 3.8%. The largest decline was in 2018, at 9.4%, while the largest increase occurred in 2019, at 2.6%.

Annual dynamics of product's exports from Austria in value, 2017-2020, K $ US

Between 2017 and 2020, Germany, Czechia, and the Netherlands led as the top buyers of soybean oil and fractions from Austria in value terms. Germany held 39.9% of exports, Czechia 29.9%, and the Netherlands 8.7%, collectively accounting for 78.5% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Austria in value, 2017-2020

Imports soybean oil and fractions to Austria

Imports in kind, t

The market showed signs of volatility over the observed period. Imports reached their lowest point in 2018, at 8 864 tonnes, and peaked in 2019, at 15 957 tonnes, resulting in a 1.8-fold variation. In 2020, foreign supplies to Austria amounted to 11 939 tonnes, a decrease of 25.2% from the previous year. The largest decline was in 2018, at 34.4%, while the largest increase was in 2019, at 80.0%.

Annual dynamics of product's imports to Austria in kind, 2017-2020, t

From 2017 to 2020, Hungary, Czechia, and Germany were the main suppliers of soybean oil and fractions to Austria in kind. Hungary contributed 34.2% of imports, Czechia 15.0%, and Germany 13.1%, together comprising 62.3% of total import volumes.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Austria in kind, 2017-2020

Imports in value, K $ US

In 2020, soybean oil and fractions shipments to Austria from abroad totaled 12 919 thousand US dollars, down by 9.6% from the previous year. Over the period from 2017 to 2020, imports decreased by 6.1%, with a compound annual growth rate of -2.1%. The lowest value was in 2018, at 9 999 thousand US dollars, while the highest was in 2019, at 14 298 thousand US dollars. The largest decline occurred in 2018, at 27.3%, and the largest increase was in 2019, at 43.0%.

Annual dynamics of product's imports to Austria in value, 2017-2020, K $ US

Between 2017 and 2020, Hungary, Germany, and Sweden consistently held leading positions in Austria's import structure in value terms. Hungary accounted for 26.5% of imports, Germany for 19.0%, and Sweden for 15.2%, jointly making up 60.7% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Austria in value, 2017-2020