Soybean oilcake market in Western Europe

Earlier Report Observations

Between 2018 and 2020, the soybean oilcake market volume in Western Europe first expanded, then contracted. Growth to 9 806 thousand tonnes in 2019 was primarily driven by increasing consumption in animal feed, particularly for poultry and pigs. The following year, market volume fell to 9 304 thousand tonnes as the COVID-19 pandemic disrupted global supply chains, temporarily hindering imports and distribution.

After a sharp drop to 7 639 thousand tonnes in 2021, the market recovered to 9 204 thousand tonnes in 2022. This rebound was supported by increased demand for soybean oil in biofuels, which boosted production of oilcake as a by-product, and by growing consumer and regulatory focus on organic and non-GMO soy products. In 2023, volume decreased again to 8 201 thousand tonnes, reflecting ongoing market volatility.

Production soybean oilcake in Western Europe

In kind, 2017-2020, K t

Top producers of soybean oilcake, 2017-2020

World map of production of soybean oilcake, 2017-2020

The market showed an unstable trend over the period. Production reached its lowest point in 2017 and peaked in 2020, with a two-fold difference between these years. In 2020, Western Europe produced 6 151 K t of soybean oilcake, marking a 5.4% increase from the previous year. The largest decline occurred in 2019 at 3.7%, while the most significant increase was recorded in 2018 at 98.0%.

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

In value, 2017-2020, M $ US

Market performance displayed noticeable fluctuations during this timeframe. The minimum value was recorded in 2017, and the maximum in 2018, showing a 2.2-fold variation. In 2020, the output of soybean oilcake in Western Europe was valued at 2 754 M $ US, reflecting a 9.1% advance compared to 2019. The highest value was 2 876 M $ US in 2018. The largest decline occurred in 2019 at 12.2%, while the most substantial increase was in 2018 at 116.2%.

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

Exports soybean oilcake from Western Europe

Exports in kind, K t

Soybean oilcake shipments from Western Europe to abroad increased for the third consecutive year. In 2020, Western Europe exported 5 206 K t of soybean oilcake, representing a slight gain of 3.0% year-over-year. Over the period from 2017 to 2020, exports grew by 9.9%, with a compound annual growth rate of 3.2%.

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

The structure of exports in kind from 2017 to 2020 indicates a diversified set of partners. Denmark accounted for 13.2% of exports in kind, the United Kingdom for 7.2%, and Czechia for 6.4%. Together, these three countries represented only 26.8% of total flows, while the remaining 73.2% was distributed among numerous smaller markets.

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

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

Exports in value, M $ US

In 2020, cross-border shipments of soybean oilcake from Western Europe amounted to 2 331 M $ US, up by 6.6% compared to the previous year. Between 2017 and 2020, exports increased by 13.1%, equating to an annualized rate of 4.2%. The largest decline was recorded in 2019 at 3.6%, while the largest increase occurred in 2018 at 10.1%.

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

From 2017 to 2020, the partner portfolio for exports in value terms of soybean oilcake from Western Europe was quite broad. Denmark contributed 12.6% of exports in value terms, the United Kingdom 7.2%, and Czechia 6.1%. Together, these three countries represented only 25.9% of total flows.

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

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

Imports soybean oilcake to Western Europe

Imports in kind, K t

In 2020, Western Europe's soybean oilcake imports amounted to 8 359 K t, which is 7.4% lower than the previous year. Over the period from 2017 to 2020, imports decreased by 10.5%, with a compound annual growth rate of 3.6%. The minimum value was recorded in 2018 at 7 950 K t. The largest decline occurred in 2018 at 14.8%, while the largest increase was in 2019 at 13.6%.

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

Throughout 2017 to 2020, Brazil, Argentina, and India formed the key group of partners for imports in kind of soybean oilcake to Western Europe. Brazil accounted for 51.4% of imports in kind, Argentina for 10.0%, and India for 3.1%. Together, they represented 64.5% of total flows.

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

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

Imports in value, M $ US

Soybean oilcake import volumes in Western Europe declined for the second consecutive year. In 2020, import volume registered 3 607 M $ US, indicating a decrease of 1.9% year-over-year. Between 2017 and 2020, imports decreased by 5.9%, equating to an annualized rate of 2.0%. The maximum value was recorded in 2018 at 4 021 M $ US. The largest decline occurred in 2019 at 8.6%, while the largest increase was in 2018 at 4.9%.

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

From 2017 to 2020, Brazil, Argentina, and India were the largest suppliers of soybean oilcake to Western Europe in value terms. Brazil accounted for 50.5% of imports in value terms, Argentina for 9.5%, and India for 3.6%. Together, they formed 63.6% of total imports in value terms.

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

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