Soybean oilcake market in Northern Europe

Earlier Report Observations

The soybean oilcake market in Northern Europe saw notable volatility from 2018 to 2023. Market volume reached a high of 5.7 million tons in 2020, a 7.6% increase from the previous year. This surge coincided with the global COVID-19 pandemic, which introduced significant disruptions to supply chains and altered demand patterns across agricultural sectors.

Following the peak, the market entered a period of contraction, with volume falling for three consecutive years to 5.0 million tons in 2023. This decline of 11% from the 2020 high was primarily driven by a sustained reduction in imports, which fell from 5.2 million tons in 2020 to 4.6 million tons in 2023. In contrast, domestic production showed a recovery, increasing by 10% in 2023 to 941 thousand tons.

Production soybean oilcake in Northern Europe

In kind, 2017-2020, K t

Top producers of soybean oilcake, 2017-2020

World map of production of soybean oilcake, 2017-2020

In 2018, soybean oilcake production in Northern Europe reached its peak at 926.6 thousand tons, marking a 4.1% increase. However, output declined by 5.5% in 2019 to 875.9 thousand tons, the lowest level recorded during this period. Production then recovered slightly in 2020, rising by 0.6% to 881.0 thousand tons.

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

In value, 2017-2020, M $ US

Following two consecutive years of decline, soybean oilcake production value in Northern Europe rebounded in 2020. The output was valued at 375.6 million US dollars, representing a 7.4% increase compared to 2019. The previous year had seen the lowest value at 349.6 million US dollars, while the largest decline of 3.4% occurred in 2018.

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

Exports soybean oilcake from Northern Europe

Exports in kind, K t

Soybean oilcake exports from Northern Europe declined for the second consecutive year in 2020, reaching 416 thousand tons with minimal year-over-year change. The export volume peaked in 2018 at 564 thousand tons, representing a 23.3% increase, before experiencing the largest decline of 26.0% in 2019. Over the 2017-2020 period, exports decreased by 8.9%, equivalent to an annualized decline of 3.1%.

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

Between 2017 and 2020, Northern Europe's soybean oilcake exports were distributed across numerous markets. The Netherlands accounted for 2.4% of export volume, Uzbekistan for 1.5%, and Germany for 1.0%, with these three countries together representing just 4.8% of total exports. The remaining 95.2% was spread across many smaller destinations.

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

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

Exports in value, M $ US

Northern Europe's soybean oilcake export value reached 177 million US dollars in 2020, increasing by 6.5% from the previous year. The highest value was recorded in 2018 at 217 million US dollars, representing a 14.4% increase, while the lowest value occurred in 2019 at 167 million US dollars with a 23.1% decline. Over the 2017-2020 period, export value decreased by 6.3%, equivalent to an annualized decline of 2.1%.

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

The market distribution for soybean oilcake export value from Northern Europe was diverse between 2017 and 2020. The Netherlands accounted for 2.2% of export value, Uzbekistan for 1.7%, and Russia for 0.9%, with these three countries together representing just 4.8% of total flows. The remaining 95.2% was distributed among numerous other countries.

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

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

Imports soybean oilcake to Northern Europe

Imports in kind, K t

Soybean oilcake imports to Northern Europe reached 5,246 thousand tons in 2020, showing a moderate increase of 8.1% compared to the previous year. The largest decline of 2.3% occurred in 2019. Over the 2017-2020 period, imports increased by 11.7%, equivalent to an annualized growth rate of 3.8%.

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

Between 2017 and 2020, Argentina, Germany, and the Netherlands remained the primary sources for soybean oilcake imports to Northern Europe. Argentina accounted for 42.4% of import volume, Germany for 13.9%, and the Netherlands for 11.2%, with these three countries together representing 67.5% of total imports.

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

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

Imports in value, M $ US

Soybean oilcake import value to Northern Europe stood at 2,094 million US dollars in 2020, marking a gradual year-over-year increase of 8.7%. The highest value was recorded in 2018 at 2,096 million US dollars, representing a 13.5% increase, while the largest decline of 8.1% occurred in 2019. Over the 2017-2020 period, import value increased by 13.4%, equivalent to an annualized growth rate of 4.3%.

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

Between 2017 and 2020, Argentina, Germany, and the Netherlands were the main sources in the geographical breakdown of soybean oilcake import value to Northern Europe. Argentina accounted for 40.2% of import value, Germany for 13.2%, and the Netherlands for 11.3%, with these three countries together representing 64.7% of total flows.

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

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