Soybean oilcake market in Italy

Earlier Report Observations

The Italian soybean oilcake market saw its volume decrease from 2.8 million tonnes in 2018 to 2.4 million tonnes in 2020.

A rebound to 2.5 million tonnes occurred in 2021, supported by rising global soybean demand and increased soybean imports into Italy, which raised domestic crushing activity. Many farms in northern Italy also expanded soybean cultivation to comply with the ecological focus area rules of the EU's Common Agricultural Policy. This growth was interrupted in 2022 when the market fell to 2.3 million tonnes, as the war in Ukraine intensified global soybean shortages and price volatility, limiting supply.

Market volume declined further to 2.1 million tonnes in 2023. A strong recovery followed in 2024, with volume reaching 2.6 million tonnes, driven by higher imports of soybeans and derivatives into Italy and improved supply flows following the renewal of the Black Sea Grain Initiative.

Production soybean oilcake in Italy

In value, 2017-2020, M $ US

In 2020, Italy's soybean oilcake production was valued at 314.2 million US dollars, marking an 18.0% increase from the previous year. Over the period from 2017 to 2020, production grew by 70.4%, with a compound annual growth rate of 19.4%. The largest increase occurred in 2018 at 54.1%, while the largest decline was in 2019 at 6.3%.

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

In kind, 2017-2020, K t

From 2017 to 2020, Italy ranked as the 25th largest producer of soybean oilcake globally, positioning it among the world's leading producers during this period.

Top producers of soybean oilcake, 2017-2020

World map of production of soybean oilcake, 2017-2020

In 2020, Italy produced 764.2 thousand tonnes of soybean oilcake, a 9.5% rise compared to the prior year. Between 2017 and 2020, production increased by 54.2%, translating to an annualized growth rate of 15.5%. The highest production volume was recorded in 2018 at 791.1 thousand tonnes, with the largest increase that year at 59.6% and the largest decline in 2019 at 11.8%.

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

Exports soybean oilcake from Italy

Exports in kind, K t

After two consecutive years of decline, Italy's soybean oilcake exports rebounded in 2020, reaching 127 thousand tonnes—a sharp increase of 64.8% from the previous year. Over the 2017-2020 period, exports decreased by 3.7%, with a compound annual growth rate of 1.3%. The lowest export volume was in 2019 at 77 thousand tonnes, and the largest decline occurred in 2018 at 32.6%.

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

From 2017 to 2020, Austria, Germany, and Hungary were the primary destinations for Italy's soybean oilcake exports in volume terms, accounting for 40.2%, 19.4%, and 7.5% of exports, respectively. Together, these three countries represented 67.0% of Italy's total soybean oilcake exports by volume.

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

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

Exports in value, M $ US

Italy's soybean oilcake export values showed significant fluctuations between 2017 and 2020. In 2020, exports reached 63.4 million US dollars, a 77.1% jump from 2019. The lowest value was recorded in 2019 at 35.8 million US dollars, resulting in a 1.8-fold difference between the peak in 2020 and the trough in 2019. The largest decline occurred in 2018 at 30.8%.

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

During 2017-2020, Austria, Germany, and Switzerland were the main markets for Italy's soybean oilcake exports in value terms, absorbing 40.1%, 19.0%, and 7.9% of exports, respectively. Collectively, these three countries accounted for 67.0% of Italy's total soybean oilcake export value.

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

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

Imports soybean oilcake to Italy

Imports in kind, K t

Italy's soybean oilcake imports declined for the third year in a row in 2020, falling to approximately 1 751 thousand tonnes—a 7.5% decrease year-over-year. From 2017 to 2020, imports dropped by 19.2%, equating to an annualized decline of 6.9%.

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

Between 2017 and 2020, Argentina was the dominant source for Italy's soybean oilcake imports in volume terms, representing 76.4% of total imports. The remaining imports were distributed among a variety of smaller trading partners.

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

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

Imports in value, M $ US

Italy's soybean oilcake import values decreased for the second consecutive year in 2020, standing at 624.9 million US dollars—a modest 8.1% drop from the previous year. Over the 2017-2020 period, imports fell by 19.6%, with an annualized decline of 7.0%. The highest import value was in 2018 at 837.1 million US dollars, with the largest increase that year at 7.7% and the largest decline in 2019 at 18.8%.

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

From 2017 to 2020, Argentina accounted for 74.7% of Italy's total soybean oilcake import value, while the remainder was spread across multiple smaller partners.

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

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