Bahrain: Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size in Bahrain

The Bahraini refined soybean oil market surged to $X in 2022, growing by X% against the previous year. Over the period under review, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Refined Soybean Oil Production in Bahrain

In value terms, refined soybean oil production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt downturn. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Refined Soybean Oil Exports

Exports from Bahrain

Refined soybean oil exports from Bahrain surged to X tons in 2022, growing by X% on the previous year's figure. In general, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, refined soybean oil exports declined to $X in 2022. Over the period under review, exports, however, recorded a abrupt contraction. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for refined soybean oil exports from Bahrain, with a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Saudi Arabia stood at X%.

In value terms, Saudi Arabia ($X) emerged as the key foreign market for refined soybean oil and its fractions exports from Bahrain.

From 2012 to 2022, the average annual growth rate of value to Saudi Arabia amounted to X%.

Export Prices by Country

The average refined soybean oil export price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price continues to indicate a precipitous decrease. The pace of growth was the most pronounced in 2019 a decrease of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Saudi Arabia.

From 2012 to 2022, the rate of growth in terms of prices for Kuwait amounted to X% per year.

Refined Soybean Oil Imports

Imports into Bahrain

In 2022, the amount of refined soybean oil and its fractions imported into Bahrain skyrocketed to X tons, surging by X% on the previous year's figure. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, refined soybean oil imports surged to $X in 2022. Overall, imports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest refined soybean oil supplier to Bahrain, accounting for a X% share of total imports. Moreover, refined soybean oil imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. Oman (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 the United Arab Emirates totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Oman (X% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of refined soybean oil and its fractions to Bahrain, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Oman (X% per year).

Import Prices by Country

In 2022, the average refined soybean oil import price amounted to $X per ton, surging by X% against the previous year. Overall, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined soybean oil import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform

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