Global Crude Soybean Oil Market 2025

Crude Soybean Oil Market Size

The global crude soybean oil market was estimated at $X in 2022, standing approx. at the previous year. Over the period under review, consumption, however, showed a slight expansion. Over the period under review, the global market attained the maximum level in 2022 and is likely to see steady growth in years to come.

Crude Soybean Oil Production

In value terms, crude soybean oil production contracted slightly to $X in 2022 estimated in export price. In general, production continues to indicate a slight shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 29% against the previous year. Global production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Crude Soybean Oil Exports

Exports

In 2022, shipments abroad of crude soybean oil decreased by -0.3% to X tons, falling for the second consecutive year after two years of growth. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2015 when exports increased by 28%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the global exports remained at a lower figure.

In value terms, crude soybean oil exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate pronounced growth. The most prominent rate of growth was recorded in 2021 with an increase of 57% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

Argentina was the largest exporter of crude soybean oil in the world, with the volume of exports amounting to X tons, which was approx. 38% of total exports in 2022. It was distantly followed by Brazil (X tons), the United States (X tons), Russia (X tons) and Bolivia (X tons), together making up a 37% share of total exports. The following exporters - Paraguay (X tons), Spain (X tons), Turkey (X tons), the Netherlands (X tons), Ukraine (X tons) and Italy (X tons) - together made up 16% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Turkey (with a CAGR of +61.8%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest crude soybean oil supplying countries worldwide were Argentina ($X), Brazil ($X) and the United States ($X), with a combined 68% share of global exports. Bolivia, Paraguay, Spain, Russia, Turkey, the Netherlands, Ukraine and Italy lagged somewhat behind, together comprising a further 24%.

Turkey, with a CAGR of +63.7%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average crude soybean oil export price stood at $X per ton in 2022, rising by 24% against the previous year. Overall, the export price saw a notable expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by 63% against the previous year. The global export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.1%), while the other global leaders experienced more modest paces of growth.

Crude Soybean Oil Imports

Imports

In 2022, supplies from abroad of crude soybean oil decreased by -0.6% to X tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 27%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of global imports remained at a lower figure.

In value terms, crude soybean oil imports expanded remarkably to $X in 2022. Overall, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +93.7% against 2018 indices. The pace of growth was the most pronounced in 2021 with an increase of 53% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, India (X tons) represented the key importer of crude soybean oil, creating 36% of total imports. Algeria (X tons) took the second position in the ranking, followed by Bangladesh (X tons), Morocco (X tons) and Peru (X tons). All these countries together held approx. 24% share of total imports. China (X tons), South Korea (X tons), Nepal (X tons), Colombia (X tons), Poland (X tons), Pakistan (X tons) and the Dominican Republic (X tons) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +13.3% from 2012 to 2022. At the same time, Pakistan (+16.5%), Poland (+13.7%), Nepal (+11.4%), Algeria (+6.4%), Colombia (+4.2%), the Dominican Republic (+4.0%), Peru (+3.8%) and Morocco (+3.0%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in the world, with a CAGR of +16.5% from 2012-2022. South Korea and Bangladesh experienced a relatively flat trend pattern. By contrast, China (-15.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, Algeria and Nepal increased by +23, +2.5 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported crude soybean oil worldwide, comprising 41% of global imports. The second position in the ranking was held by Algeria ($X), with a 5.8% share of global imports. It was followed by Morocco, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value in India stood at +15.7%. The remaining importing countries recorded the following average annual rates of imports growth: Algeria (+3.9% per year) and Morocco (+5.3% per year).

Import Prices by Country

The average crude soybean oil import price stood at $X per ton in 2022, picking up by 12% against the previous year. Over the period under review, the import price continues to indicate slight growth. The pace of growth appeared the most rapid in 2021 an increase of 54% against the previous year. Global import price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Dominican Republic ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+2.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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