Norway - Refined Soybean Oil And Its Fractions - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRefined Soybean Oil Price in Norway - 2023
Contents:
- Refined Soybean Oil Price in Norway (CIF) - 2022
- Refined Soybean Oil Price in Norway (FOB) - 2022
- Refined Soybean Oil Imports in Norway
- Refined Soybean Oil Exports in Norway
Refined Soybean Oil Price in Norway (CIF) - 2022
The average refined soybean oil import price stood at $2,187 per ton in 2022, growing by 37% against the previous year. Over the period under review, the import price recorded a temperate expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($2,945 per ton), while the price for Russia ($1,953 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Refined Soybean Oil Price in Norway (FOB) - 2022
The average refined soybean oil export price stood at $1,653 per ton in 2022, rising by 3.3% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 43% against the previous year. The export price peaked at $2,568 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ghana ($2,240 per ton), while the average price for exports to Russia ($1,218 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+26.4%), while the prices for the other major destinations experienced mixed trend patterns.
Refined Soybean Oil Imports in Norway
In 2022, refined soybean oil imports into Norway shrank significantly to 997 tons, reducing by -33.8% compared with the previous year's figure. Over the period under review, imports saw a deep slump. The pace of growth appeared the most rapid in 2021 when imports increased by 2.8%.
In value terms, refined soybean oil imports contracted to $2.2M in 2022. The total import value increased at an average annual rate of +5.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 39%. As a result, imports reached the peak of $2.4M, and then contracted in the following year.
| Import of Refined Soybean Oil in Norway (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 300 | 259 | 561 | 1,281 | 62.2% |
| Sweden | 111 | 93.7 | 149 | 391 | 52.2% |
| Denmark | 250 | 295 | 322 | 133 | -19.0% |
| United Kingdom | 37.3 | 40.3 | 45.6 | 90.5 | 34.4% |
| Spain | 12.6 | 6.2 | 24.5 | 77.0 | 82.8% |
| Italy | 40.7 | 36.7 | 52.9 | 62.8 | 15.6% |
| Argentina | 8.0 | 11.4 | 16.8 | 56.9 | 92.3% |
| Germany | 18.1 | 94.2 | 87.5 | 44.8 | 35.3% |
| Belgium | 148 | 69.5 | 81.5 | 22.1 | -46.9% |
| Russia | 45.8 | 22.2 | 19.4 | 4.5 | -53.9% |
| Others | 901 | 802 | 1,041 | 18.6 | -72.6% |
| Total | 1,872 | 1,730 | 2,402 | 2,182 | 5.2% |
Top Suppliers of Refined Soybean Oil to Norway in 2022:
- Netherlands (615.0 tons)
- Sweden (166.9 tons)
- Denmark (57.3 tons)
- United Kingdom (40.2 tons)
- Spain (34.0 tons)
- Argentina (25.0 tons)
- Italy (21.3 tons)
- Germany (18.6 tons)
- Belgium (9.7 tons)
- Russia (2.3 tons)
Refined Soybean Oil Exports in Norway
Refined soybean oil exports from Norway contracted remarkably to 989 kg in 2022, falling by -45% compared with the previous year's figure. Overall, exports saw a sharp decrease. The growth pace was the most rapid in 2021 when exports increased by 905%.
In value terms, refined soybean oil exports fell dramatically to $1.6K in 2022. In general, exports continue to indicate a sharp contraction. The growth pace was the most rapid in 2021 with an increase of 636% against the previous year.
| Export of Refined Soybean Oil in Norway (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sweden | 4,257 | 296 | 2,148 | 1,234 | -33.8% |
| Ghana | 26.0 | 31.0 | 293 | 168 | 86.3% |
| Netherlands | 720 | 31.0 | 235 | 108 | -46.9% |
| Russia | 162 | 13.0 | 121 | 67.0 | -25.5% |
| Iceland | 131 | 9.0 | 64.0 | 49.0 | -27.9% |
| Others | 189 | 11.0 | 18.0 | 9.0 | -63.8% |
| Total | 5,485 | 391 | 2,879 | 1,635 | -33.2% |
Top Export Markets for Refined Soybean Oil from Norway in 2022:
- Sweden (766.0 kg)
- Ghana (75.0 kg)
- Netherlands (58.0 kg)
- Russia (55.0 kg)
- Iceland (31.0 kg)
This report provides an in-depth analysis of the refined soybean oil market in Norway. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10415100 - Refined soya-bean oil and its fractions (excluding chemically modified)
Country coverage:
- Norway
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Norway
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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In 2022, soybean oil prices are forecast to rise by nearly 4% to $1,425 per ton, driven by boosting demand for biofuels. In 2021, the average annual soybean oil price skyrocketed, rising 65% y-o-y to $1,385 per ton. India remains the world’s largest soybean oil importer, while Argentina holds the position of the leading global supplier.
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The soybean oil market indicates steady growth, despite the COVID-19 pandemic cut demand for biofuel. The competitive price of soybean oil, against the price for sunflower and palm oil, combined with the potential growth in demand for biofuels and increasingly robust environmental standards, signal tangible prospects for the further development of the soybean oil market.
