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Crude Soybean Oil Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Report Format: PDF+Excel | Report ID: SR112024A24295
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Crude Soybean Oil Prices December 2023
|
Product
|
Category | Region | Price |
|---|---|---|---|
| Crude Soybean Oil | Chemical | USA | 1127 USD/MT |
| Crude Soybean Oil | Chemical | China | 888 USD/MT |
| Crude Soybean Oil | Chemical | Germany | 989 USD/MT |
The price of crude soybean oil in the USA reached 1127 USD/MT by the end of December 2023.
In China, the price of crude soybean oil settled at 888 USD/MT in December 2023.
In December 2023, the crude soybean oil priced reached 989 USD/MT in Germany.
Crude Soybean Oil Price Trend, Market Analysis, and News
IMARC’s newly published report, titled “Crude Soybean Oil Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of crude soybean oil pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.
It encompasses an in-depth review of spot price of crude soybean oil at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of crude soybean oil price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing crude soybean oil price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.
Crude Soybean Oil Market Analysis
The global crude soybean oil market size reached US$ 62.37 million tons in 2023. By 2032, IMARC Group expects the market to reach US$ 82.31 million tons, at a projected CAGR of 3.20% during 2023-2032.
- The growing demand for biodiesel as a renewable energy source is propelling the crude soybean oil industry forward. In 2022, the combined production of biodiesel and renewable diesel in the United States is expected to reach 3.1 billion gallons. Furthermore, according to the International Energy Agency (IEA), the average global biodiesel output between 2023 and 2025 will be 46 billion liters. Crude soybean oil, known for its favorable properties and high oil content, is a commonly utilized as a feedstock in the biodiesel synthesis process. Governments throughout the world are pushing for the production of biodiesel as a means of lowering carbon emissions and reducing reliance on fossil fuels. For instance, the U.S. Renewable Fuel Standard mandates that diesel and gasoline be blended with renewable fuels, which results in a rise in the consumption of crude soybean oil.
- The food industry is a major consumer of soybean oil, used extensively in cooking oils, margarines, and processed foods. In 2023, the EU food and drink sector generated Euro 229 billion in value-added and €1.1 trillion in turnover. Furthermore, the food processing business in developing countries such as India is growing at an impressive 8.8% per year, with a projected value of INR 61,327.5 billion by 2032. The need for food items is being driven by the growing worldwide population and rising disposable incomes, which is driving the market for soybean oil. In addition, the food sector favors this oil because of its neutral flavor, low cost, and health benefits.
- The increased awareness of health and nutrition is a crucial element driving market growth. Crude soybean oil is high in critical fatty acids, including omega-3 and omega-6, and has a good balance of polyunsaturated and monounsaturated fats. It also contains vitamin E, an antioxidant. These health benefits are prompting people to choose this oil over others.
- Agriculture technology advancements are improving oil extraction efficiency and soybean crop yields, which is boosting market growth. Precision farming technologies, increased irrigation techniques, and genetically modified (GM) soybean varieties are all contributing to the market's growth. Additionally, the market is expanding due to improvements in crude soybean oil production quality and efficiency brought about by developments in oil extraction techniques such solvent extraction and mechanical pressing.
Crude Soybean Oil News
The report covers the latest developments, updates, and trends impacting the global crude soybean oil market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in crude soybean oil production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the crude soybean oil price trend.
Latest developments in the crude soybean oil industry:
- In November 2023: Cargill announced that it is expanding and modernizing its soybean crush and refine oils facility in Sidney, Ohio.
- In October 2023: Luis Dryfus Company (LDC) announced the construction of a soybean processing plant in Upper Sandusky, Ohio. This plant will have integrated crushing, vegetable oil refining, and lecithin production and packaging capabilities.
Product Description
Crude soybean oil is a vegetable oil extracted from the seeds of the soybean plant. It is an unprocessed oil with natural smells, colors, and the majority of its nutritious characteristics. This versatile oil is available in several varieties, including non-genetically modified (GMO), organic, high oleic, and expeller-pressed crude soybean oil.
It is light yellow to amber in appearance and has a characteristic nutty taste. The chemical and physical properties of crude soybean oil include density (0.92-0.93 g/cm³), viscosity (30-35 cP at 25°C), smoke point (approximately 232°C (450°F)), and saponification value (190-195 mg KOH/g). It is manufactured in multiple steps involving cleaning, crushing, conditioning, expelling/pressing, solvent extraction, degumming, and filtration.
Crude soybean oil is used in cooking, frying, margarine production, salad dressing, baked goods, biodiesel production, industrial lubricants, paints and coatings, soaps and detergents, and animal feed. It is known for its high nutritional value, antioxidant properties, versatility, sustainability, long shelf life, and cost-effectiveness.
Regional Coverage
The report provides a detailed analysis of the crude soybean oil market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the crude soybean oil price trend.
Global Crude Soybean Oil Price
The report offers a holistic view of the global crude soybean oil pricing trends in the form of crude soybean oil price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of crude soybean oil but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.
The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed crude soybean oil demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.
Europe Crude Soybean Oil Price
European crude soybean oil prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.
This analysis can be extended to include detailed crude soybean oil price information for a comprehensive list of countries.
| Region | Countries Covered |
|---|---|
| Europe | Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Crude Soybean Oil Price
The analysis of crude soybean oil prices in North America delves into the regional industry dynamics, encompassing the impact of local production capacities and the trade flows between North America and other significant global markets.
Specific crude soybean oil historical data within the United States and Canada can also be provided.
| Region | Countries Covered |
|---|---|
| North America | United States and Canada |
Middle East and Africa Crude Soybean Oil Price
The report explores the crude soybean oil pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.
In addition to region-wise data, information on crude soybean oil prices for countries can also be provided.
| Region | Countries Covered |
|---|---|
| Middle East & Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Crude Soybean Oil Price
The crude soybean oil pricing trends in Asia Pacific are examined, reflecting the role of the region as a major global production hub and consumer market, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.
This crude soybean oil price analysis can be expanded to include a comprehensive list of countries within the region.
| Region | Countries Covered |
|---|---|
| Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Crude Soybean Oil Price
The analysis of crude soybean oil prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
| Region | Countries Covered |
|---|---|
| Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
| Key Attributes | Details |
|---|---|
| Product Name | Crude soybean oil |
| Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Crude soybean oil Price Analysis, and Segment-Wise Assessment. |
| Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
| Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand* Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece* North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru* Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
| Information Covered for Key Suppliers |
|
| Customization Scope | The report can be customized as per the requirements of the customer |
| Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
Plan B: Quarterly Updates - Annual Subscription
Plan C: Biannually Updates - Annual Subscription
|
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
| Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of crude soybean oil pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
- The study examines factors affecting crude soybean oil price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The crude soybean oil price charts ensure our clients remain at the forefront of the industry.
Need more help?
- Speak to our experienced analysts for insights on the current market scenarios.
- Include additional segments and countries to customize the report as per your requirement.
- Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
- For further assistance, please connect with our analysts.
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