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Canada - Refined Soybean Oil And Its Fractions - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Jun 1, 2025

Canada - Refined Soybean Oil And Its Fractions - Market Analysis, Forecast, Size, Trends And Insights

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Dec 7, 2023

Export of Canada's Refined Soybean Oil Surges to $13M in September 2023

Canada Refined Soybean Oil Exports

Refined soybean oil exports from Canada surged to 8K tons in September 2023, rising by 16% on August 2023 figures. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in July 2023 when exports increased by 46% month-to-month.

In value terms, refined soybean oil exports expanded markedly to $13M (IndexBox estimates) in September 2023. Over the period under review, exports, however, saw a slight shrinkage. The pace of growth appeared the most rapid in July 2023 with an increase of 53% m-o-m.Canada Refined Soybean Oil Exports By Country (Million USD)

COUNTRYExport Value of Refined Soybean Oil in Canada (million USD)
Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023Aug 2023Sep 2023
United States12.917.913.611.613.716.618.614.911.38.313.810.011.4
Saudi Arabia0.2N/A0.20.3N/A0.10.30.40.30.3N/A0.30.5
United Arab Emirates0.50.40.20.40.30.10.30.20.20.60.50.90.3
Others0.80.20.2< 0.10.2< 0.10.20.20.20.40.20.10.5
Total14.318.614.312.414.216.819.415.712.09.514.611.312.8

Exports by Country

The United States (6.8K tons) was the main destination for refined soybean oil exports from Canada, accounting for a 85% share of total exports. Moreover, refined soybean oil exports to the United States exceeded the volume sent to the second major destination, Saudi Arabia (467 tons), more than tenfold.

From September 2022 to September 2023, the average monthly growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average monthly rates of exports growth: Saudi Arabia (+9.8% per month) and the United Arab Emirates (-2.6% per month).

In value terms, the United States ($11M) remains the key foreign market for refined soybean oil exports from Canada, comprising 89% of total exports. The second position in the ranking was taken by Saudi Arabia ($522K), with a 4.1% share of total exports.

From September 2022 to September 2023, the average monthly growth rate of value to the United States amounted to -1.0%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Saudi Arabia (+9.4% per month) and the United Arab Emirates (-2.9% per month).

Export Prices by Country

In September 2023, the refined soybean oil price amounted to $1,601 per ton (FOB, Canada), declining by -2.7% against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 when the average export price increased by 4.5% month-to-month. Over the period under review, the average export prices attained the peak figure at $1,728 per ton in November 2022; however, from December 2022 to September 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In September 2023, the country with the highest price was the United States ($1,683 per ton), while the average price for exports to Saudi Arabia ($1,116 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+0.5%), while the prices for the other major destinations experienced a decline.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the refined soybean oil market in Canada. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 10415100 - Refined soya-bean oil and its fractions (excluding chemically modified)

Country coverage:

  • Canada

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Canada
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND THE AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    5. MARKET FORECAST TO 2035

  4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCTS
    4. MOST TRADED PRODUCTS
    5. MOST PROFITABLE PRODUCTS FOR EXPORTS

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Export

    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    6. Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    8. Market Volume Forecast to 2035
    9. Market Value Forecast to 2035
    10. Market Size and Growth, By Product
    11. Average Per Capita Consumption, By Product
    12. Exports and Growth, By Product
    13. Export Prices and Growth, By Product
    14. Production Volume and Growth
    15. Exports and Growth
    16. Export Prices and Growth
    17. Market Size and Growth
    18. Per Capita Consumption
    19. Imports and Growth
    20. Import Prices
    21. Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    22. Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    23. Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    24. Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country, 2012–2024
    29. Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    30. Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country, 2012–2024

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