Price for Flours and Meals; of Soya Beans in the UK - 2023
Contents:
- Price for Flours and Meals; of Soya Beans in the UK (CIF) - 2022
- Price for Flours and Meals; of Soya Beans in the UK (FOB) - 2022
- Imports of Flours and Meals; of Soya Beans in the UK
- Exports of Flours and Meals; of Soya Beans in the UK
Price for Flours and Meals; of Soya Beans in the UK (CIF) - 2022
The average import price for flours and meals; of soya beanses stood at $844 per ton in 2022, rising by 19% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2020 when the average import price increased by 37% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($2,235 per ton), while the price for Ireland ($428 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Flours and Meals; of Soya Beans in the UK (FOB) - 2022
In 2022, the average export price for flours and meals; of soya beanses amounted to $395 per ton, dropping by -28.4% against the previous year. In general, the export price saw a deep reduction. The growth pace was the most rapid in 2017 an increase of 98%. Over the period under review, the average export prices hit record highs at $2,336 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ireland ($1,695 per ton), while the average price for exports to Denmark ($293 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 Poland (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Flours and Meals; of Soya Beans in the UK
In 2022, purchases abroad of flours and meals; of soya beanses decreased by -51.4% to 6.2K tons for the first time since 2018, thus ending a three-year rising trend. In general, imports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 13%. As a result, imports attained the peak of 13K tons, and then shrank significantly in the following year.
In value terms, imports of flours and meals; of soya beanses contracted rapidly to $5.2M in 2022. Over the period under review, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 39% against the previous year.
| Import of Flours and Meals; of Soya Beans in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | 2.2 | 2.1 | 5.5 | 1.7 | -8.2% |
| Serbia | 1.1 | 0.7 | 1.4 | 1.2 | 2.9% |
| Austria | 0.9 | 0.5 | 0.6 | 1.1 | 6.9% |
| United States | 0.2 | 0.9 | 0.1 | 0.6 | 44.2% |
| Netherlands | 0.7 | 3.2 | 0.8 | 0.2 | -34.1% |
| Denmark | 0.2 | 0.3 | N/A | N/A | 50.0% |
| Others | 1.1 | 1.2 | 0.7 | 0.4 | -28.6% |
| Total | 6.4 | 8.9 | 9.0 | 5.2 | -6.7% |
Top Suppliers of Flours and Meals; of Soya Beans to the UK in 2022:
- Ireland (3.9K tons)
- Serbia (1.0K tons)
- Austria (0.8K tons)
- United States (0.3K tons)
- Netherlands (0.1K tons)
Exports of Flours and Meals; of Soya Beans in the UK
In 2022, exports of flours and meals; of soya beanses from the UK skyrocketed to 4.8K tons, growing by 26% on 2021. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 69%. Over the period under review, the exports of hit record highs in 2022 and are likely to continue growth in the near future.
In value terms, exports of flours and meals; of soya beanses declined to $1.9M in 2022. Over the period under review, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +11.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -21.6% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 77% against the previous year. As a result, the exports attained the peak of $2.4M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
| Export of Flours and Meals; of Soya Beans in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Denmark | 352 | 536 | 1,133 | 1,275 | 53.6% |
| Canada | N/A | N/A | N/A | 195 | 0% |
| Ireland | 454 | 1,151 | 713 | 193 | -24.8% |
| Netherlands | 30.0 | 300 | 92.6 | 62.3 | 27.6% |
| Belgium | 59.2 | 88.4 | 67.8 | 25.4 | -24.6% |
| Italy | 361 | 213 | N/A | 15.4 | -65.1% |
| Others | 112 | 138 | 99.5 | 135 | 6.4% |
| Total | 1,368 | 2,427 | 2,106 | 1,902 | 11.6% |
Top Export Markets for Flours and Meals; of Soya Beans from the UK in 2022:
- Denmark (4350.8 tons)
- Canada (216.5 tons)
- Ireland (113.9 tons)
- Netherlands (42.2 tons)
- Belgium (19.5 tons)
- Italy (10.0 tons)
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