Soybean oilcake market in Portugal

Earlier Report Observations

From 2018 to 2023, the soybean oilcake market volume in Portugal showed considerable variation, starting at 744 thousand tonnes in 2018. The market declined to 593 thousand tonnes in 2019 but then stabilized near 600 thousand tonnes in 2020. A sharp expansion to 989 thousand tonnes occurred in 2021, driven by the implementation of new legal mandates for oil producers. These regulations required participation in integrated waste management systems and contracts with authorized entities for used oil collection, stimulating the processing of soybean extraction residues.

The regulatory framework, notably Decreto-Lei n.º 8/2021, which recognizes used cooking oils as a feedstock for biofuel production, incentivized the circular use of oil extraction by-products. Companies like Braval and Sogilub expanded their waste collection and recycling operations, increasing the utilization of solid residues such as oilcake for animal feed. Concurrent investments in more efficient extraction technology further supported the production of oilcake, contributing to the market's growth.

After the 2021 peak, the market volume fell to 830 thousand tonnes in 2022 and 588 thousand tonnes in 2023. During this period, the sector continued to adopt digital waste management services and advanced oil regeneration processes. The market also saw a growing consumer interest in sustainable and specialized products, though the overall volume contracted.

Production soybean oilcake in Portugal

In value, 2018-2021, M $ US

In 2020, Portugal's soybean oilcake output was valued at 237.0 million US dollars, marking a 24.0% increase from the previous year.

Annual dynamics of production in Portugal in value, 2018-2021, M $ US

In kind, 2018-2021, K t

From 2018 to 2021, Portugal ranked as the 25th largest producer of soybean oilcake globally.

Top producers of soybean oilcake, 2018-2021

World map of production of soybean oilcake, 2018-2021

Portugal's soybean oilcake production grew for the second consecutive year. In 2020, the country produced 1 031 thousand tonnes, a 62.2% rise from 2019. Between 2019 and 2020, production increased by 26.6%, with an average annual growth rate of 8.2%. The highest production volume was recorded in 2021 at 1 031 thousand tonnes, while the largest decline occurred in 2019 with a 34.7% drop. The most significant increase was in 2021, reaching 62.2%.

Annual dynamics of production in Portugal in kind, 2018-2021, K t

Exports soybean oilcake from Portugal

Exports in kind, K t

Soybean oilcake exports from Portugal experienced notable fluctuations during the period. The lowest volume was in 2019 at 52.1 thousand tonnes, with the highest in 2021 at 124.8 thousand tonnes, representing a 2.4-fold difference. In 2021, exports rose by 18.5% compared to 2020. The largest decline was in 2019 at 49.1%, while the biggest increase was in 2020 at 102.3%.

Annual dynamics of product's exports from Portugal in kind, 2018-2021, K t

From 2018 to 2021, Spain, Italy, and Turkey were the primary destinations for Portugal's soybean oilcake exports in volume terms. Spain accounted for 65.0% of exports, Italy for 11.5%, and Turkey for 7.2%, together making up 83.7% of total export flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Portugal in kind, 2018-2021

Exports in value, K $ US

Portugal's soybean oilcake export values showed significant volatility. The lowest level was in 2019 at 19 541 thousand US dollars, while the peak was in 2021 at 56 055 thousand US dollars, a 2.9-fold difference. In 2021, export value surged by 39.4% from 2020. The largest decline occurred in 2019 at 52.2%, and the biggest increase was in 2020 at 105.8%.

Annual dynamics of product's exports from Portugal in value, 2018-2021, K $ US

In value terms, Spain, Italy, and Turkey remained the top buyers of Portuguese soybean oilcake from 2018 to 2021. Spain represented 63.6% of export value, Italy 10.6%, and Turkey 7.8%, collectively accounting for 82.1% of total exports.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Portugal in value, 2018-2021

Imports soybean oilcake to Portugal

Imports in kind, K t

Portugal's soybean oilcake imports in volume terms were volatile. The lowest volume was in 2018, with the highest in 2019 at 113.3 thousand tonnes, showing a 3.6-fold gap. In 2021, imports totaled a value, increasing by 18.4% from 2020. The largest decline was in 2020 at 38.0%, while the biggest increase was in 2019 at 255.8%.

Annual dynamics of product's imports to Portugal in kind, 2018-2021, K t

From 2018 to 2021, Argentina, Spain, and Brazil were the leading sources of soybean oilcake imports to Portugal in volume terms. Argentina contributed 48.4% of imports, Spain 19.6%, and Brazil 11.0%, together representing 78.9% of total import flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Portugal in kind, 2018-2021

Imports in value, K $ US

Import values for soybean oilcake in Portugal exhibited volatility. The lowest value was in 2018, with the peak in 2019 at 39 936 thousand US dollars, reflecting a 2.9-fold change. In 2021, import value reached 36 472 thousand US dollars, a sharp 48.8% rise from 2020. The largest decline was in 2020 at 38.6%, and the most significant increase was in 2019 at 193.9%.

Annual dynamics of product's imports to Portugal in value, 2018-2021, K $ US

In value terms, Argentina, Spain, and the United States dominated Portugal's soybean oilcake imports from 2018 to 2021. Argentina accounted for 48.7% of import value, Spain for 21.1%, and the United States for 10.9%, collectively making up 80.7% of total import flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Portugal in value, 2018-2021