Middle East: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in the Middle East

The Middle Eastern soybean oilcake market contracted slightly to $X in 2023, reducing by X% against the previous year. Overall, consumption recorded a prominent expansion. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Soybean Oilcake Production in the Middle East

In value terms, soybean oilcake production fell modestly to $X in 2023 estimated in export price. In general, production enjoyed buoyant growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Soybean Oilcake Exports

Exports in the Middle East

In 2023, soybean oilcake exports in the Middle East surged to X tons, jumping by X% compared with the year before. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, soybean oilcake exports soared to $X in 2023. Over the period under review, exports recorded significant growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

Turkey represented the largest exporting country with an export of about X tons, which resulted at X% of total exports. It was distantly followed by the United Arab Emirates (X tons), committing a X% share of total exports. Syrian Arab Republic (X tons) took a little share of total exports.

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

In value terms, Turkey ($X) remains the largest soybean oilcake supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

In Turkey, soybean oilcake exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Syrian Arab Republic (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, falling by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Soybean Oilcake Imports

Imports in the Middle East

In 2023, imports of soybean oilcake in the Middle East reduced slightly to X tons, standing approx. at the year before. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, soybean oilcake imports dropped to $X in 2023. Total imports indicated a slight expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2021 indices. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Turkey (X tons) and Iran (X tons) were the largest importers of soybean oilcake in 2023, finishing at near X% and X% of total imports, respectively. It was distantly followed by Iraq (X tons), Saudi Arabia (X tons), Yemen (X tons) and Israel (X tons), together generating a X% share of total imports. Jordan (X tons) followed a long way behind the leaders.

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

In value terms, Turkey ($X), Iran ($X) and Iraq ($X) were the countries with the highest levels of imports in 2023, together comprising X% of total imports.

Among the main importing countries, Iraq, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Israel ($X per ton) and Turkey ($X per ton), while Yemen ($X per ton) and Iran ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform