In 2023, Argentina led global soybean oil exports with 4.4 million metric tons, despite a 3.54% decline from the previous year. Brazil followed with 2.25 million metric tons, seeing a 15.7% increase, a significant rise. Smaller exporters like Vietnam and Morocco showed impressive growth at 58.49% and 28.99% respectively. The United States experienced a notable decline of 28.98%, highlighting a shift in its export capabilities. Countries like Canada, Malaysia, and China showed minor fluctuations around stability.
Looking ahead, Brazil's growth trajectory positions it as a potential leader in soybean oil exports, potentially rivaling Argentina. Emerging exporters such as Vietnam and Morocco could gain more market share if current growth trends persist. Meanwhile, the United States may focus on stabilizing its production for export recovery. Observing the impacts of global trade policies and climate changes will be crucial for projecting soybean oil export trends.
Top countries in Soybean Oil Export by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Argentina | 4,400 | 2023 | +6.36% | -3.54% | View data |
| 2 | 2 Brazil | 2,250 | 2023 | -16.36% | +15.7% | View data |
| 3 | 3 Russia | 725 | 2023 | +6.62% | +4.85% | View data |
| 4 | 4 Paraguay | 590 | 2023 | +15.69% | -1.98% | View data |
| 5 | 5 Bolivia | 390 | 2023 | -7.14% | -0.15% | View data |
| 6 | 6 Ukraine | 345 | 2023 | +24.55% | +0.65% | View data |
| 7 | 7 China | 200 | 2023 | 0% | -6.51% | View data |
| 8 | 8 Thailand | 190 | 2023 | -13.64% | +17.73% | View data |
| 9 | 9 United States | 159 | 2023 | -7.02% | -28.98% | View data |
| 10 | 10 Canada | 150 | 2023 | +8.7% | -2.36% | View data |
