U.S. - Refined Soybean Oil And Its Fractions - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRefined Soybean Oil Prices in the United States
U.S. Refined Soybean Oil Export Price per Ton in August 2022
In August 2022, the refined soybean oil price per ton amounted to $2.2K (FOB, US), with a decrease of -1.9% against the previous month. Over the period from January 2022 to August 2022, it increased at an average monthly rate of +4.4%. The most prominent rate of growth was recorded in May 2022 when the average export price increased by 19% against the previous month. Over the period under review, the average export prices reached the maximum at $2.2K per ton in June 2022; afterwards, it flattened through to August 2022.
Prices varied noticeably by the country of destination: the country with the highest price was Mexico ($3.5K per ton), while the average price for exports to Canada ($2.1K per ton) was amongst the lowest.
From January 2022 to August 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+18.5%), while the prices for the other major destinations experienced more modest paces of growth.
U.S. Refined Soybean Oil Exports
For the third consecutive month, the United States recorded growth in overseas shipments of refined soybean oil and its fractions, which increased by 22% to 9.8K tons in August 2022. In general, exports, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in February 2022 with an increase of 31% m-o-m. As a result, the exports reached the peak of 23K tons. From March 2022 to August 2022, the growth of the exports failed to regain momentum.
In value terms, refined soybean oil exports soared to $21M (IndexBox estimates) in August 2022. Overall, exports, however, continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in February 2022 with an increase of 31% month-to-month. As a result, the exports reached the peak of $37M. From March 2022 to August 2022, the growth of the exports remained at a lower figure.
U.S. Refined Soybean Oil Exports by Country
Canada (7.7K tons) was the main destination for refined soybean oil exports from the United States, accounting for a 78% share of total exports. Moreover, refined soybean oil exports to Canada exceeded the volume sent to the second major destination, the United Arab Emirates (330 tons), more than tenfold. The third position in this ranking was held by Saudi Arabia (287 tons), with a 2.9% share.
From January 2022 to August 2022, the average monthly growth rate of volume to Canada totaled +5.3%. Exports to the other major destinations recorded the following average monthly rates of exports growth: the United Arab Emirates (+27.9% per month) and Saudi Arabia (+8.7% per month).
In value terms, Canada ($16M) remains the key foreign market for refined soybean oil exports from the United States, comprising 75% of total exports. The second position in the ranking was taken by the United Arab Emirates ($903K), with a 4.2% share of total exports. It was followed by Chile, with a 3.4% share.
From January 2022 to August 2022, the average monthly rate of growth in terms of value to Canada totaled +8.4%. Exports to the other major destinations recorded the following average monthly rates of exports growth: the United Arab Emirates (+34.0% per month) and Chile (+31.6% per month).
This report provides an in-depth analysis of the refined soybean oil market in the U.S.. 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:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- 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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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This comprehensive guide provides valuable information and resources for starting a business in the Soybean Oil market in the United States. Learn about market data, official data sources, help from local authorities, and the IndexBox market intelligence platform.
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In August 2022, the soybean oil price per ton stood at $1.8K (FOB, US), rising by 6.6% against the previous month.
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In July 2022, the soybean oil price per ton stood at $1,686, declining by -6.9% against the previous month.
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Between May 2023 and August 2023, the exports of Crude Soybean Oil experienced a slowdown in growth. The value of these exports significantly declined to $7.5M in August 2023.
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In 2022, soybean oil prices are forecast to rise by nearly 4% to $1,425 per ton, driven by boosting demand for biofuels. In 2021, the average annual soybean oil price skyrocketed, rising 65% y-o-y to $1,385 per ton. India remains the world’s largest soybean oil importer, while Argentina holds the position of the leading global supplier.
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The soybean oil market indicates steady growth, despite the COVID-19 pandemic cut demand for biofuel. The competitive price of soybean oil, against the price for sunflower and palm oil, combined with the potential growth in demand for biofuels and increasingly robust environmental standards, signal tangible prospects for the further development of the soybean oil market.
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Global soybean oil exports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
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Global soybean oil imports amounted to X thousand tons in 2015, jumping by +X% against the previous year level.
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In 2015, the countries with the highest levels of production were China (X thousand tons), the United States (X thousand tons), Brazil (X thousand tons), together accounting for X% of total output.
