The global soybean oil production landscape in 2024 highlights China as the leading producer with substantial annual growth, followed closely by the United States and Brazil. Despite a slight downturn, Argentina remains significant, while India shows stability. Noteworthy growth is observed in countries like Vietnam, South Africa, Algeria, and Saudi Arabia, suggesting emerging production capacities. Conversely, Argentina, Egypt, Paraguay, and Pakistan experienced declines over the last year. Over the last five years, developing countries have gradually increased their production capacities, with notable contributions from Brazil, Russia, and emerging economies like Ethiopia and Uzbekistan.
Future trends to watch include the impact of technological advancements in agriculture, potential trade disruptions, and climate change impacts. Emerging economies may further enhance their production capabilities. Attention should also be given to shifts in global demand for renewable energy sources, impacting the primary consumption of soybean oil for biodiesel production. Additionally, geopolitical events may alter soy distribution, affecting production dynamics globally.
Top countries in Soybean Oil Production by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 17,560 | 2023 | +3.16% | +2.89% | View data |
| 2 | 2 United States | 12,260 | 2023 | +3.03% | +2.23% | View data |
| 3 | 3 Brazil | 10,730 | 2023 | +5.13% | +5.58% | View data |
| 4 | 4 Argentina | 6,810 | 2023 | +13.74% | -3.26% | View data |
| 5 | 5 India | 1,710 | 2023 | -7.77% | -0.21% | View data |
| 6 | 6 Mexico | 1,200 | 2023 | -2.2% | +1.12% | View data |
| 7 | 7 Russia | 1,050 | 2023 | +8.37% | +4.69% | View data |
| 8 | 8 Paraguay | 665 | 2023 | +14.66% | -1.71% | View data |
| 9 | 9 Egypt | 556 | 2023 | +15.11% | -2.68% | View data |
| 10 | 10 Iran | 532 | 2023 | -3.45% | +5.71% | View data |
