Price for Soya Beans; Other than Seed, Whether or Not Broken in the UK - 2023
Contents:
- Price for Soya Beans; Other than Seed, Whether or Not Broken in the UK (CIF) - 2022
- Price for Soya Beans; Other than Seed, Whether or Not Broken in the UK (FOB) - 2022
- Imports of Soya Beans; Other than Seed, Whether or Not Broken in the UK
- Exports of Soya Beans; Other than Seed, Whether or Not Broken in the UK
Price for Soya Beans; Other than Seed, Whether or Not Broken in the UK (CIF) - 2022
The average import price for soya beans; other than seed, whether or not brokens stood at $637 per ton in 2022, growing by 11% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 28% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the near future.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($804 per ton), while the price for the United States ($587 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Soya Beans; Other than Seed, Whether or Not Broken in the UK (FOB) - 2022
The average export price for soya beans; other than seed, whether or not brokens stood at $1,090 per ton in 2022, with an increase of 18% against the previous year. Over the period under review, the export price, however, showed a mild downturn. The growth pace was the most rapid in 2021 when the average export price increased by 143%. Over the period under review, the average export prices attained the maximum at $1,316 per ton in 2012; however, from 2013 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 Singapore ($1,699 per ton), while the average price for exports to Ireland ($656 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 Sweden (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Soya Beans; Other than Seed, Whether or Not Broken in the UK
Imports of soya beans; other than seed, whether or not brokens into the UK skyrocketed to 907K tons in 2022, growing by 55% compared with the previous year. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +12.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of soya beans; other than seed, whether or not brokens surged to $577M in 2022. Overall, imports enjoyed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Soya Beans; Other than Seed, Whether or Not Broken in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 130 | 173 | 197 | 390 | 44.2% |
| United States | 65.7 | 53.6 | 36.1 | 147 | 30.8% |
| Canada | 34.1 | 116 | 76.8 | 16.2 | -22.0% |
| Others | 20.6 | 20.3 | 25.0 | 23.7 | 4.8% |
| Total | 251 | 363 | 335 | 577 | 32.0% |
Top Suppliers of Soya Beans; Other than Seed, Whether or Not Broken to the UK in 2022:
- Brazil (607.6K tons)
- United States (251.2K tons)
- Canada (20.1K tons)
Exports of Soya Beans; Other than Seed, Whether or Not Broken in the UK
In 2022, approx. 447 tons of soya beans; other than seed, whether or not brokens were exported from the UK; dropping by -24.7% compared with the previous year. Over the period under review, exports continue to indicate a dramatic contraction. The smallest decline of -12.8% was in 2020.
In value terms, exports of soya beans; other than seed, whether or not brokens declined to $488K in 2022. Overall, exports faced a sharp decline. The pace of growth appeared the most rapid in 2020 with an increase of 8.1%. As a result, the exports reached the peak of $8.8M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Soya Beans; Other than Seed, Whether or Not Broken in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | 4,381 | 4,582 | 163 | 167 | -66.3% |
| Singapore | 112 | 98.5 | 95.3 | 63.7 | -17.1% |
| Belgium | 385 | 389 | 27.0 | 40.1 | -52.9% |
| Portugal | 39.1 | 98.6 | 8.7 | 31.0 | -7.4% |
| Finland | N/A | N/A | N/A | 25.8 | 0% |
| Spain | 35.4 | 74.1 | 64.1 | 24.8 | -11.2% |
| Sweden | 81.2 | 195 | 4.9 | 17.6 | -39.9% |
| France | 1,280 | 1,642 | 6.1 | 12.9 | -78.4% |
| Others | 1,817 | 1,712 | 178 | 105 | -61.3% |
| Total | 8,131 | 8,790 | 547 | 488 | -60.8% |
Top Export Markets for Soya Beans; Other than Seed, Whether or Not Broken from the UK in 2022:
- Ireland (254.2 tons)
- Singapore (37.5 tons)
- Belgium (37.4 tons)
- Portugal (25.5 tons)
- Spain (24.0 tons)
- Finland (19.9 tons)
- Sweden (12.0 tons)
- France (10.5 tons)
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This report provides an in-depth analysis of the soya bean market in the UK.
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