Soybean oilcake market in Central Asia

Earlier Report Observations

The soybean oilcake market in Central Asia expanded in volume from 285 thousand tons in 2018 to 376 thousand tons in 2023. This period was marked by a substantial surge to 433 thousand tons in 2021, a contraction the following year, and a modest recovery in 2023. In value terms, the market grew from $151 million to $252 million over the same six-year span, with the most pronounced increase occurring in 2021.

The market's dynamics were closely tied to import volumes, which accounted for the majority of supply. Imports rose from 243 thousand tons in 2018 to a peak of 383 thousand tons in 2021 before moderating. Domestic production also increased over the period, from 70 thousand tons to 104 thousand tons, contributing to overall market growth.

Global industry trends have shaped the market environment. These include supply chain pressures from events like drought in Argentina, rising demand for soybean oil in biofuel production, and evolving regulatory frameworks such as the EU Deforestation Regulation, which emphasizes sustainable sourcing and traceability for soy derivatives.

Production soybean oilcake in Central Asia

In kind, 2017-2020, t

Top producers of soybean oilcake, 2017-2020

World map of production of soybean oilcake, 2017-2020

Central Asia's soybean oilcake production increased for the second consecutive year. In 2020, the region produced 71 822 tons of soybean oilcake, marking a 1.3% rise compared to 2019. However, looking at the broader period from 2017 to 2020, production actually decreased by 2.4%, which translates to an average annual decline of 0.8%. The lowest production volume was recorded in 2018 at 70 034 tons, with that year also seeing the largest decline of 4.9%. In contrast, 2019 experienced the largest increase of 1.3%.

Annual dynamics of production in Central Asia in kind, 2017-2020, t

In value, 2017-2020, K $ US

After two years of decline, Central Asia's soybean oilcake production value rebounded. In 2020, the output was valued at 35 660 thousand US dollars, showing a solid increase of 18.5% compared to the previous year. Over the period from 2017 to 2020, however, production value decreased by 5.7%, with a compound annual growth rate of -1.9%. The lowest value was recorded in 2019 at 30 089 thousand US dollars, while the largest decline occurred in 2018 with a drop of 12.3%.

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

Exports soybean oilcake from Central Asia

Exports in kind, K t

The market performance showed noticeable fluctuations during this period. Exports reached their lowest point in 2019 at 16.9 thousand tons and peaked in 2020 at 55.3 thousand tons, representing a 3.3-fold increase. In 2020, soybean oilcake volumes leaving Central Asia stood at 55.3 thousand tons, reflecting a substantial advance of 226.8% compared to 2019. The largest decline was recorded in 2019 at 38.8%.

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

From 2017 to 2020, exports of soybean oilcake from Central Asia were distributed relatively evenly across various markets. Germany accounted for 12.8% of exports in kind, Sweden for 5.5%, and Denmark for 4.9%. Together, these three countries represented only 23.3% of total export flows.

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

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

Exports in value, M $ US

The market exhibited signs of volatility over the observed period. Exports hit their lowest point in 2019 at 7.2 million US dollars and peaked in 2020 at 27.4 million US dollars, with a 3.8-fold gap between these years. In 2020, Central Asia exported 27.4 million US dollars worth of soybean oilcake, up by 282.5% from the previous year. The largest decline was recorded in 2019 at 45.2%.

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

An analysis of exports in value terms from 2017 to 2020 reveals a broad distribution across many markets. Germany accounted for 15.9% of exports in value terms, Sweden for 8.4%, and Denmark for 6.6%. Together, these three countries represented only 30.9% of total flows, with a significant 69.1% going to other trading partners.

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

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

Imports soybean oilcake to Central Asia

Imports in kind, K t

Soybean oilcake deliveries to Central Asia increased for the third consecutive year. In 2020, imports amounted to 313.9 thousand tons, corresponding to a strong improvement of 15.2% compared to 2019. Over the period from 2017 to 2020, imports increased by 63.3%, with a compound annual growth rate of 17.7%.

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

From 2017 to 2020, Russia, Latvia, and Argentina continued to lead as the main suppliers of soybean oilcake to Central Asia. Russia accounted for 32.1% of imports in kind, Latvia for 26.0%, and Argentina for 21.2%. Together, these three countries took 79.3% of total imports in kind.

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

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

Imports in value, M $ US

Imported soybean oilcake volumes in Central Asia increased for the third consecutive year. In 2020, imports totalled 154.0 million US dollars, which is 16.7% higher than the previous year. Over the period from 2017 to 2020, imports increased by 62.3%, with a compound annual growth rate of 17.5%.

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

From 2017 to 2020, Russia, Latvia, and Argentina remained the primary suppliers of soybean oilcake to Central Asia in value terms. Russia accounted for 31.3% of imports in value terms, Latvia for 26.6%, and Argentina for 21.8%. Together, these three countries formed 79.7% of total imports in value terms.

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

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