Soybean oilcake market in Iran

Earlier Report Observations

Between 2018 and 2023, the Iranian soybean oilcake market experienced notable fluctuations in volume. The market expanded from 3 101 thousand tons in 2018 to a peak of 3 902 thousand tons in 2021. This growth was supported by a significant increase in domestic processing across several provinces and, in 2020, by the state-directed distribution of over 600 thousand tons of livestock inputs, which included 80 thousand tons of soybean meal to stabilize supply. The diversification of import sources, notably the entry of Russian soybean meal into the market in 2021, helped maintain overall availability even as domestic production varied.

A sharp contraction of 23% followed in 2022, reducing the market to 3 014 thousand tons. This decline was directly linked to a reported decrease in the supply of feed inputs in the marketplace, leading to a shortage of soybean meal and a surge in free-market prices. Throughout the period, government-approved prices for meal were periodically adjusted in response to exchange rate movements and global price fluctuations, impacting costs for the livestock and poultry sectors, which rely heavily on this protein source.

In 2023, the market volume saw a modest recovery to 3 107 thousand tons. This was underpinned by domestic production reaching 2 054 thousand tons, while imports remained at a similar level to the previous year.

Production soybean oilcake in Iran

In kind, 2017-2020, K t

Iran was among the world's leading producers of soybean oilcake from 2017 to 2020, ranking 16th globally by production volume.

Top producers of soybean oilcake, 2017-2020

World map of production of soybean oilcake, 2017-2020

In 2020, Iran produced 2 070 K t of soybean oilcake, marking a sharp increase of 39.9% compared to the previous year. Over the 2017-2020 period, production grew by 49%, with a compound annual growth rate (CAGR) of 14.2%. The largest decline occurred in 2019, when production fell by 11.5%.

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

Exports soybean oilcake from Iran

Exports in kind, K t

Iran exported 0.1 K t of soybean oilcake in 2020, which is 45.8% less than in 2019. Over the 2017-2020 period, exports decreased by 97%, with a CAGR of 68.9%.

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

From 2017 to 2020, Afghanistan was the primary destination for Iran's soybean oilcake exports in volume terms, accounting for 75.1% of total flows, while other markets made up a fragmented remainder.

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

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

Exports in value, M $ US

In 2020, soybean oilcake exports from Iran were valued at 0.1 M $ US, showing a decline of 40.7% compared to 2019. Over the 2017-2020 period, exports decreased by 93.8%, with a CAGR of 60.4%.

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

From 2017 to 2020, Afghanistan remained the dominant partner for Iran's soybean oilcake exports in value terms, holding a 73.1% share of total flows, with other markets forming a long tail.

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

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

Imports soybean oilcake to Iran

Imports in kind, K t

After a two-year improvement, foreign soybean oilcake supplies to Iran declined. In 2020, imports totaled 1 820 K t, showing a robust decline of 20.9% compared to 2019. Over the 2017-2020 period, imports increased by 43.4%, with a CAGR of 12.8%. The maximum volume was recorded in 2019 at 2 301 K t, which also saw the largest increase of 60.9%.

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

During 2017-2020, imports of soybean oilcake to Iran in volume terms were relatively evenly distributed. The United Kingdom (23.4% of imports in kind), Turkey (13.5%), and the Netherlands (12.3%) together accounted for only 49.2% of total flows, indicating a diverse import structure.

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

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

Imports in value, M $ US

After a two-year gain, Iran's soybean oilcake import volume declined. In 2020, imports were recorded at 793.9 M $ US, equivalent to a robust decline of 20.1% compared to the previous year. Over the 2017-2020 period, imports increased by 57.8%, with a CAGR of 16.4%. The maximum value was recorded in 2019 at 993.4 M $ US, which also experienced the largest increase of 52.5%.

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

From 2017 to 2020, soybean oilcake imports to Iran came from a broad set of markets. The United Kingdom (23.4% of imports in value terms), Turkey (13.7%), and the Netherlands (12.0%) together accounted for only 49.1% of total imports in value terms, while many smaller destinations made up the remaining 50.9%.

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

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