Soybean Oil Market Intelligence


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  • Supplier Watchlist for 3 suppliers*
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With this purchase you will be subscribed for a 12-month PRO membership to the upcoming all new Beroe LiVE (launching in Q3, 2020)


*These features will be unlocked on the new Beroe LiVE when it launches (Q3, 2020)

Are you looking for answers on Soybean Oil category?

Are you looking for answers on Soybean Oil category?

  • What are the key trends in Soybean Oil category?
  • Am I paying the right price?
  • Am I working with the right supplier?
  • What are the major challenges and risks in Soybean Oil industry?
  • How is Soybean Oil industry performing?

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Report Coverage

  • Global Soybean Oil Supply–Demand Analysis

  • Innovations/Trends

  • Key Supplier Profiles

  • Soybean Oil Pricing Analysis - US, Argentina, Brazil

Production Size

Production Size North America

13.49 MMT

Production Size China

91.7 MMT

Table of contents

  1. Soybean Oil Executive Summary
  2. Supply/Demand and Prices
  3. Global Soybean Oil Market
  4. Contract Structures by Industry and Price Benchmarking
  5. Cost Savings, Based on Contract Structures
  1. Soybean Oil Market Analysis
  2. Value Chain Analysis
  3. Global Market Outlook
  4. Current Market Size
  5. Demand - Supply Trends and Forecast
  6. Key End-use Industries
  7. Trade Dynamics
  8. Regional Market Outlook (China, US, Argentina, and Brazil)
  9. Current Market Size
  10. Demand - Supply Trends and Forecast
  11. Key End-use Industries
  12. Trade Dynamics
  1. Soybean Oil Industry Analysis
  2. Industry Outlook
  3. Drivers and Constraints for the Industry
  4. Innovations
  5. Porter’s Five Forces Analysis
  1. Soybean Oil Supplier Analysis
  2. Price Analysis (US, Argentina, and Brazil)
  3. Price Forecast for Soybean Oil
  4. Profiling of Major Suppliers
  5. Archer-Daniels-Midland Co.
  6. Bunge Limited
  7. Cargill Inc.
  8. Louis Dreyfus Company
  9. Wilmar International Ltd.
  1. Soybean Oil Cost & Price Analysis
  2. Procurement Insights for Soybean Oil
  3. Sourcing Months
  4. Sourcing Regions
  5. Contract Structures

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Global Market Outlook on Soybean Oil

  • The global soybean oil supply has been witnessing a steady growth of 5.2 percent CAGR during 2012/13–2017/18 crop years. The current crop year (2018/2019) production is expected to increase by 3.7 percent against the previous crop year (2017–2018).
  • Despite higher soybean planting areas, the estimated production is low year-on-year, owing to unfavorable La Nina weather conditions, which is said to impact the production and seed quality
  • Deficient of rapeseed oils supported the soybean oil demand in the food and biodiesel market in 2017/2018.


Price Benchmarking

  • Soybean oil prices and contract structures are fixed by the US suppliers using CBOT soybean oil futures and adding the basis & freight costs
  • The basis is the difference between cash and futures prices. Profit margin set by the buyers depends on time of buying & selling and also on the soybean prices
  • Soybeans supply scenario, and crush margins play a major role in driving the prices of soy oil

Soybean Oil Value Chain

  • Soybean oil value chain and prices are driven using by-product, raw materials supply, and crushing economies. ~89 percent of the soybean produced globally is used for the purpose of crushing, out of which 18 percent of oil and 82 percent meal are obtained
  • Despite the low share as a by-product, soybean oil prices play a major role in the pricing economies of soybean value chain, due to its utility in end-use demand

Global Soybean Oil Supply–Demand Analysis

  • Soybean oil supply witnessed a consecutive increase for the last three years, due to increased soybean supply and tightened supply in the other vegetable oil market, mainly the rapeseed oil market
  • Recovery in the biodiesel demand has also supported the soybean demand during the start of 2018
  • Soybean oil is the second most consumed vegetable oil in the world, driven by US and Asian demand
  • China is the major soybean oil consuming country with its main end use application being for food use
  • The growing population and soybean acreage as a result of the government-led initiatives will increase the soybean oil consumption and production in China

Market Outlook - 2017/2018

  • Global production and consumption of soybean oil from 2013/14 to 2017/18 grew at a CAGR of 5.6 percent and 5.9 percent, respectively
  • The global production and consumption are expected to grow at 4.6 percent and 4.1 percent, respectively, for 20118/19 compared to the previous year
  • The accelerated consumption growth of soybean oil in China will drive the production increase
  • Major soybean oil producing regions are China, Argentina, and the US, which account for ~63 percent of the global soybean oil production

Soybean Oil Global Demand by Application

  • The global soybean oil demand witnessed a steady increase in the recent decade, due to increasing share of demand from the food industry
  • The main demand for soybean oil is for food application, followed by industrial use, which is for biodiesel manufacturing
  • The global biodiesel production from soybean oil in 2018 is estimated at 10.2MMT, which is 6.8 percent higher than the previous year

Soybean Oil Consumption by Country

  • China, the US, and Brazil are the largest consumers of soybean oil
  • China is the largest producer and consumer of soybean oil. China consumes almost approx. 99 percent of the domestic production
  • Brazil, Argentina, and the US are major soybean producing areas.China imports 64 percent of the global soybean to produce the soybean oil

Soybean Oil Exports by Country (2019–2020 E)

  • The global soybean oil trade from 2014/2015 to 2018/2019 grew only at a CAGR of 0.2 percent. The majority of the downtrend can be attributed to the US-China trade war. Rising dependency of consumers on soy oil due to the decline in palm oil and rapeseed oil production, boosted trade in 2017/18
  • India is the largest importing nation of soybean oil, and all of it is used in food application
  • LATAM region trade revived in 2018-2019 with the EU relaxing its trade barrier

Soybean Oil Imports by Country (2019–2020 E)

  • The major importers of soybean oil are India (30 percent), China (9 percent), Bangladesh (9 percent), Algeria (7 percent) and Peru (4 percent).

Global Soybean Oil Market Trade Dynamics

  • Argentina and Brazil are the largest soybean oil-exporting countries, accounting for about 56 percent of the global exports, while India is the largest soybean oil-importing country
  • The La Nina conditions and the US-China trade war had impacted soybean oil trade for 2017/2018, lowering its exports by around 7–8 percent Y-o-Y and is expected to revive in 2018/2019

Soybean Oil Price Forecast

  • In the US, soybean oil prices up trended in Q1 2019 with a drop in Chinese oil output. Further, increasing usage of the biodiesel industry supports the price increase.
  • Soy bean oil prices in Argentina are expected to be stable, with an increase of 2–2.5 percent in the long term.
  • In Brazil, prices could surge with increasing demand from Biodiesel and exports, however, could be curbed seasonally over summer with surge in crush rates.


Soybean Oil Market Frequently Asked Questions

  1. Who are the major players in the soybean oil industry? 
  2. As per Beroe’s soybean outlook 2020 report, China is the largest producer and consumer of soybean oil, consuming around 99% of its production. Brazil and the US are also the major consumers according to Beroe's global soybean market report. India is the largest importer of soybean. 


  1. What are the latest trends in the soybean oil market?
  2. Beroe’s soybean international market reveals the current trends to be: steady growth in the supply, low production in spite of large production areas due to the La Nina conditions, and a rise in demand due to the deficiency in rapeseed oils. 


  1. What are the key drivers of the soybean oil market?
  2. The global soybean market saw a great increase in demand due to the recovery in biodiesel demand. The increase in population and rise in soybean production has also been driving factors for more soybean consumption in China. The major use cases driving the demand for soybean oil are food application and industrial use. 

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