Oman: Soya Bean Market 2024

Soya Bean Market Size in Oman

In 2022, after two years of growth, there was significant decline in the Omani soya bean market, when its value decreased by X% to $X. In general, consumption showed a pronounced downturn. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Soya Bean Production in Oman

In value terms, soya bean production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

In 2022, the average yield of soya beans in Oman stood at less than X kg per ha, flattening at the previous year. In general, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of soya beans production in Oman amounted to less than X ha, stabilizing at the previous year. Overall, the harvested area continues to indicate a relatively flat trend pattern.

Soya Bean Exports

Exports from Oman

In 2022, the amount of soya beans exported from Oman totaled X kg, therefore, remained relatively stable against the year before. In general, exports recorded a sharp decline. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, soya bean exports totaled $X in 2022. Overall, exports saw a sharp descent. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X kg) was the main destination for soya bean exports from Oman, accounting for a X% share of total exports. Moreover, soya bean exports to Singapore exceeded the volume sent to the second major destination, Free Zones (X kg), tenfold.

From 2014 to 2022, the average annual rate of growth in terms of volume to Singapore was relatively modest.

From 2014 to 2022, the average annual growth rate of value to Singapore was relatively modest.

Export Prices by Country

In 2022, the average soya bean export price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by X%. The export price peaked at $X per ton in 2019; however, from 2020 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 Free Zones ($X per ton), while the average price for exports to Singapore stood at $X per ton.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iran (X%).

Soya Bean Imports

Imports into Oman

In 2022, the amount of soya beans imported into Oman shrank significantly to X tons, dropping by X% on 2021. Over the period under review, imports saw a abrupt contraction. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, soya bean imports declined significantly to $X in 2022. Overall, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Argentina (X tons) constituted the largest soya bean supplier to Oman, with a X% share of total imports. Moreover, soya bean imports from Argentina exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The United Arab Emirates (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Argentina was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the United Arab Emirates (X% per year).

In value terms, Argentina ($X) constituted the largest supplier of soya beans to Oman, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Argentina was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The average soya bean import price stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the import price saw a mild curtailment. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Tanzania ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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