The Global Soybean Oil Crush data for 2023 reveals China leading with 115.43 million metric tons, followed by the United States at 62.32 million metric tons, and Brazil at 48.31 million metric tons. Over the past two years (2022-2023), these countries showed stable production levels with no significant year-on-year variation reported. Looking over a five-year horizon from 2021 to 2024, the average compound annual growth rate (CAGR) remained modest across most top producers, indicating a gradual and steady increase, primarily driven by demand for soybean oil as a staple in cooking and processed foods.
Future trends to watch include:
- Increasing demand in Asian markets, particularly in China and India, driven by population growth and dietary shifts.
- A growing focus on sustainable and non-GMO soybean oil production driven by consumer preferences and environmental policies.
- Technological advancements in soybean processing to enhance oil yield and efficiency.
- Potential geopolitical influences on soybean trade impacting crush volumes in key producing countries.
Top countries in Soybean Oil Crush, Forecast 2021-2030 by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | |
|---|---|---|---|---|
| 1 | 1 China | 115,430 | 2030 | View data |
| 2 | 2 United States | 62,320 | 2030 | View data |
| 3 | 3 Brazil | 48,310 | 2030 | View data |
| 4 | 4 Argentina | 46,510 | 2030 | View data |
| 5 | 5 India | 11,300 | 2030 | View data |
| 6 | 6 Mexico | 7,060 | 2030 | View data |
| 7 | 7 Russia | 5,120 | 2030 | View data |
| 8 | 8 Egypt | 4,640 | 2030 | View data |
| 9 | 9 Bangladesh | 3,610 | 2030 | View data |
| 10 | 10 Pakistan | 3,020 | 2030 | View data |
