Italy: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Italy

In 2023, the Italian soybean oilcake market increased by X% to $X, rising for the third consecutive year after two years of decline. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2023, consumption stood at a somewhat lower figure.

Soybean Oilcake Production in Italy

In value terms, soybean oilcake production stood at $X in 2023 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Soybean Oilcake Exports

Exports from Italy

In 2023, overseas shipments of soybean oilcake decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, exports, however, saw a moderate increase. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, soybean oilcake exports shrank markedly to $X in 2023. Over the period under review, exports, however, enjoyed pronounced growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at $X in 2022, and then contracted sharply in the following year.

Exports by Country

Germany (X tons), Austria (X tons) and Hungary (X tons) were the main destinations of soybean oilcake exports from Italy, together accounting for X% of total exports. Switzerland, France, the Netherlands, Malta, Slovenia, Croatia, Greece and Turkey lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Malta (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Austria ($X) and Hungary ($X) were the largest markets for soybean oilcake exported from Italy worldwide, together comprising X% of total exports. France, Switzerland, the Netherlands, Malta, Greece, Slovenia, Croatia and Turkey lagged somewhat behind, together comprising a further X%.

Malta, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average soybean oilcake export price stood at $X per ton in 2023, increasing by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Malta ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Soybean Oilcake Imports

Imports into Italy

In 2023, approx. X tons of soybean oilcake were imported into Italy; reducing by X% on the previous year's figure. Overall, imports showed a mild curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2023, imports remained at a lower figure.

In value terms, soybean oilcake imports reached $X in 2023. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Argentina (X tons) constituted the largest supplier of soybean oilcake to Italy, accounting for a X% share of total imports. Moreover, soybean oilcake imports from Argentina exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. The third position in this ranking was held by Slovenia (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Argentina was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Slovenia (X% per year).

In value terms, Argentina ($X) constituted the largest supplier of soybean oilcake to Italy, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports. It was followed by Slovenia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Argentina amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Slovenia (X% per year).

Import Prices by Country

In 2023, the average soybean oilcake import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, soybean oilcake import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, average import prices hit record highs in 2023 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Paraguay ($X per ton) and Brazil ($X per ton), while the price for Slovenia ($X per ton) and Argentina ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform