Soybean oil and fractions market in Egypt

Earlier Report Observations

The market for soybean oil and fractions in Egypt showed significant fluctuations between 2018 and 2023. Volume expanded from 667 thousand tonnes in 2018 to 845 thousand tonnes in 2020, then contracted sharply to 695 thousand tonnes in 2021. A partial recovery followed in 2022, with the market reaching 815 thousand tonnes, before declining again to 610 thousand tonnes in 2023.

In March 2023, Professor Dr. Ali Abdul Mohsen assumed leadership of the Economic Affairs Sector at the Ministry of Agriculture, a body responsible for monitoring vegetable oil prices in Egypt. This change in regulatory oversight coincided with the market's contraction that year, potentially influencing policies affecting the domestic soybean oil sector.

By 2024, the market experienced notable price volatility for crude and refined soybean oil, with increases of around EGP 1,000 per tonne. Price adjustments by state-owned Egypt Petroleum and shifts in Egyptian consumer behavior, alongside stabilized prices by September 2024, indicated evolving demand and supply-side factors shaping trade flows, with imports falling to 123 thousand tonnes and exports rising to 166 thousand tonnes.

Production soybean oil and fractions in Egypt

In kind, 2017-2020, K t

From 2017 to 2020, Egypt ranked 12th globally in the production of soybean oil and fractions.

Top producers of soybean oil and fractions, 2017-2020

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

Egypt's production of soybean oil and fractions grew for the third year in a row. In 2020, the country produced 697.4 K t, up 4.8% from the previous year. Over the 2017-2020 period, production surged by 94.7%, averaging an annual growth rate of 24.9%.

Annual dynamics of production in Egypt in kind, 2017-2020, K t

In value, 2017-2020, M $ US

In 2020, the value of soybean oil and fractions produced in Egypt reached 593.9 M $ US, a significant 14.6% increase compared to 2019. Between 2017 and 2020, production value rose by 64.8%, with an average annual rate of 18.1%. The largest drop occurred in 2019 at 9.2%, while the biggest jump was in 2018 with a 58.2% increase.

Annual dynamics of production in Egypt in value, 2017-2020, M $ US

Exports soybean oil and fractions from Egypt

Exports in kind, K t

The data shows irregular fluctuations, reflecting a volatile market. Exports hit a low in 2018 and peaked in 2020, with a 5.3-fold difference between these years. In 2020, Egypt exported 168.9 K t of soybean oil and fractions, a sharp 46.0% rise from the previous year. The lowest volume was recorded in 2018 at 31.8 K t. The largest decline was in 2018 at 20.8%, while the biggest increase came in 2019 with a 263.6% surge.

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

From 2017 to 2020, the three largest markets for Egypt's soybean oil and fractions exports in volume were Algeria, Mauritius, and Eritrea, together accounting for 60.8% of total exports.

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

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

Exports in value, M $ US

The data indicates irregular changes, pointing to a volatile market. Exports reached their lowest point in 2018 and their highest in 2020, with a 4.3-fold variation. In 2020, Egypt exported soybean oil and fractions worth 143.8 M $ US, a 59.7% increase from 2019. The minimum value was in 2018 at 33.1 M $ US. The largest drop occurred in 2018 at 18.0%, while the biggest rise was in 2019 with a 171.9% jump.

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

Between 2017 and 2020, Algeria (38.6% of export value), Mauritius (10.9%), and Eritrea (10.8%) remained the top buyers of soybean oil and fractions from Egypt, collectively making up 60.2% of total export value.

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

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

Imports soybean oil and fractions to Egypt

Imports in kind, K t

Egypt's imports of soybean oil and fractions increased for the second consecutive year. In 2020, the country imported 316.5 K t, a dramatic 31.3% rise from the previous year. Over the 2017-2020 period, imports grew by 53.5%, with a compound annual growth rate of 15.4%. The lowest volume was in 2018 at 151.2 K t. The largest decline was in 2018 at 26.6%, while the biggest increase was in 2019 with a 59.5% uptick.

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

From 2017 to 2020, Egypt's imports of soybean oil and fractions were heavily focused on Argentina, which accounted for 92.1% of total import volume.

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

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

Imports in value, M $ US

Egypt's imports of soybean oil and fractions rose for the second year in a row. In 2020, imports totaled 251.2 M $ US, up 44.1% from 2019. Over the 2017-2020 period, import value increased by 46.3%, with a compound annual growth rate of 13.5%. The minimum value was recorded in 2018 at 125.1 M $ US, with the largest decline that year at 27.1%.

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

Throughout 2017-2020, Argentina dominated Egypt's imports of soybean oil and fractions in value terms, holding a 92.2% share of total imports.

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

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