Report Update May 1, 2025

India - Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights

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India: Soybean Oil Market 2025

Soybean Oil Market Size in India

In 2022, the Indian soybean oil market increased by 19% to $X, rising for the third year in a row after three years of decline. In general, consumption recorded resilient growth. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in years to come.

Soybean Oil Production in India

In value terms, soybean oil production fell slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 68%. Soybean oil production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Soybean Oil Exports

Exports from India

Soybean oil exports from India skyrocketed to X tons in 2022, rising by 34% compared with the previous year's figure. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 266% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, soybean oil exports surged to $X in 2022. Overall, exports posted significant growth. The pace of growth was the most pronounced in 2018 with an increase of 269%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the near future.

Exports by Country

Bhutan (X tons), Jordan (X tons) and Australia (X tons) were the main destinations of soybean oil exports from India, together comprising 92% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +198.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soybean oil exported from India were Bhutan ($X), Jordan ($X) and Australia ($X), with a combined 91% share of total exports.

Australia, with a CAGR of +206.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average soybean oil export price stood at $X per ton in 2022, growing by 8.7% against the previous year. In general, the export price, however, recorded a mild shrinkage. The growth pace was the most rapid in 2021 an increase of 44% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Bhutan ($X per ton) and Australia ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and Jordan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+48.8%), while the prices for the other major destinations experienced more modest paces of growth.

Soybean Oil Imports

Imports into India

In 2022, the amount of soybean oil imported into India rose markedly to X tons, growing by 11% on 2021 figures. Overall, imports showed a prominent expansion. The growth pace was the most rapid in 2014 when imports increased by 90% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, soybean oil imports surged to $X in 2022. In general, imports posted a prominent increase. The growth pace was the most rapid in 2014 when imports increased by 66%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Argentina (X tons), Brazil (X tons) and the Netherlands (X tons) were the main suppliers of soybean oil imports to India, with a combined 87% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +326.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Brazil ($X) and the Netherlands ($X) were the largest soybean oil suppliers to India, with a combined 87% share of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +290.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average soybean oil import price amounted to $X per ton, rising by 16% against the previous year. In general, the import price saw a notable increase. The most prominent rate of growth was recorded in 2021 an increase of 69% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Nepal ($X per ton) and Russia ($X per ton), while the price for the United States ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+21.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for soybean oil in the world?

The countries with the highest volumes of in 2021 were China, the United States and Brazil, together accounting for 59% of global consumption. India, Argentina, Nigeria and Bangladesh lagged somewhat behind, together comprising a further 19%.

What are the largest producers of soybean oil in the world?

The countries with the highest volumes of in 2021 were China, Brazil and the United States, together comprising 64% of global production.

What are the leading suppliers of soybean oil to India?

In value terms, Argentina constituted the largest supplier of soybean oil to India, comprising 59% of total imports. The second position in the ranking was occupied by Brazil, with a 14% share of total imports. It was followed by Nepal, with a 13% share.

What are the leading importers of soybean oil from India?

In value terms, Bhutan emerged as the key foreign market for soybean oil exports from India, comprising 83% of total exports. The second position in the ranking was occupied by Myanmar, with a 5% share of total exports. It was followed by Canada, with a 4.9% share.

What is the average export price for soybean oil in India?

In 2021, the average soybean oil export price amounted to $1,817 per ton, surging by 52% against the previous year.

What is the average import price for soybean oil in India?

The average soybean oil import price stood at $1,349 per ton in 2021, surging by 73% against the previous year.

This report provides an in-depth analysis of the soybean oil market in India. 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:

FCL 237 - Oil of Soybeans

Country coverage:

India

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in India
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 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 Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
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, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
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 Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
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 Of Destination, 2012–2024