What is the price of soyabean oil per kilogram/pound in Saudi Arabia today?
The retail price range for Saudi Arabia soyabean oil is between US$ 0.92 and US$ 1.11 per kilogram or between US$ 0.42 and US$ 0.51 per pound(lb). Click here to see today's exact prices of soyabean oil in Saudi Arabia
The retail price range in Saudi Riyal for soyabean oil is between SAR 3.45 and SAR 4.18 per kilogram or between SAR 1.57 and SAR 1.90 per pound(lb) in Riyadh and Jeddah.
Wholesale prices
In 2024, the approximate wholesale price range for Saudi Arabia soyabean oil is between US$ 0.64 and US$ 0.78 per kilogram or between US$ 0.29 and US$ 0.35 per pound(lb).
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Saudi Arabia Soyabean Oil Export Prices - Historical, Trends and Prediction
In the years 2016, 2017, 2018, 2019 and 2020, the export prices of Soyabean oil from Saudi Arabia per Kg were US$ 1.19, US$ 0.65, US$ 0.69, US$ 1.31 and US$ 0.90 respectively. For the year 2021, the export price was US$ 1.82 per Kg. It is difficult to predict the export price for the year 2023, as it is still far away.The Saudi Arabia soyabean oil exports are categorised as:
- Soya-bean oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 150790)
- Crude soya-bean oil, whether or not degummed (HS code 150710)
Saudi Arabia Soyabean Oil Import Prices - Historical, Trends and Prediction
The import price per kilogram of Soyabean oil into Saudi Arabia has seen a steady decline over the last five years. In 2012, the price was 1.19 US dollars per kg, which dropped to 0.99 US dollars per kg in 2013. This trend continued in 2014, when the price fell to 0.89 US dollars per kg. In 2015, the price dropped further to 0.73 US dollars per kg, and then increased slightly to 0.76 US dollars per kg in 2016. In 2017, the price rose to 0.84 US dollars per kg, before dropping to 0.74 US dollars per kg in both 2018 and 2019. The price then increased to 0.81 US dollars per kg in 2020, before rising sharply to 1.92 US dollars per kg in 2021. Based on this trend, it is likely that the price of Soyabean oil will remain around the 1.00 US dollar per kg mark in 2023 and 2024.Export values for Saudi Arabia soyabean oil
The total values in export for soyabean oil in Saudi Arabia were US$ 42,567, US$ 29,756, US$ 47,840 and US$ 49,267 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in Saudi Arabia: Milk & Cream, Yogurt, Kefir & Buttermilk, Whey, Butter, Cheese, Natural Honey, Coffee, Green Tea & Black Tea.
See prices of soyabean oil in other countries across Middle East: Bahrain soyabean oil, Cyprus soyabean oil, Iraq soyabean oil, Israel soyabean oil, Jordan soyabean oil, Kuwait soyabean oil, Lebanon soyabean oil, Palestine soyabean oil, Oman soyabean oil & Qatar soyabean oil.
Saudi Arabia soyabean oil - Production, Exports, Imports, Seasons and HS Codes
In 2019 Saudi Arabia shipped 66,268 tonnes of soyabean oil. For 2019 alone, the demand for Saudi Arabia soyabean oil (processed category) has escalated, changing by 2.709 percent compared to the year 2018. Between 2017 and 2019, soyabean oil's exports increased by 86.12 pc earning the exporter US$49.27m for the year 2019. Saudi Arabia's soyabean oil exports are categorised as:
- Soya-bean oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 150790)
- Crude soya-bean oil, whether or not degummed (HS code 150710)
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Saudi Arabia soyabean oil export values
In 2019, Saudi Arabia supplied soyabean oil valued at 49.27m USD, a growth of 2.99% from 2018's total soyabean oil export of 47.84m USD. The yearly growth in value of Saudi Arabia soyabean oil between 2017 to 2018 was 60.774 pc.
The annual/yearly change in the quantity of Saudi Arabia's soyabean oil exports between 2017 and 2019 was 86.12 pc compared to a variation of 2.709% in the period between 2018 and 2019.
Saudi Arabia's stake of the world's total soyabean oil's exports in 2019 was less than 1%. The country is ranked position 43 in world exports of soyabean oil.
Export markets for Saudi Arabia soyabean oil ( in '000$ )
Saudi Arabia's leading export markets for soyabean oil are United Arab Emirates (UAE), Jordan, India, Kuwait and Yemen.
Import/Export Trends
Saudi Arabia is a net importer of soyabean oil. The annual growth of Saudi Arabia soyabean oil in value between 2015 to 2019 was 7%, per annum, while annual growth in quantity through the same period was 5%, per annum.
Saudi Arabia ordered 11,657 tonnes of soyabean oil in 2019.