In 2023, Argentina led global soybean oil exports significantly ahead of Brazil and the United States, reflecting a dominant presence in this market. Other notable contributors included Paraguay, the Netherlands, and Russia. Countries like Bolivia, Spain, and Germany faced declines, while others like Portugal, Serbia, and Mexico saw strong growth. Emerging markets such as Romania and South Korea showed exceptional year-on-year variation, indicating potential rising players. The compounded annual growth rate over the last five years further highlights shifts such as Vietnam's sharp contraction and Egypt's significant decline.
Future trends to watch include Argentina's sustained dominance, potential growth from new entrants like Romania and South Korea, and ongoing shifts in Asia's emerging markets. Monitoring geopolitical factors and technology advancements will be crucial in predicting long-term export dynamics in the soybean oil sector.
Top countries in Soybean Oil Export Volume by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Argentina | 4,360 | 2023 | -0.16% | +1.68% | View data |
| 2 | 2 Brazil | 1,420 | 2023 | +0.35% | +0.099% | View data |
| 3 | 3 United States | 1,180 | 2023 | +1.38% | +1.24% | View data |
| 4 | 4 Paraguay | 713 | 2023 | +0.56% | +0.63% | View data |
| 5 | 5 Netherlands | 683 | 2023 | +2.86% | +2.59% | View data |
| 6 | 6 Russia | 632 | 2023 | +2.6% | +2.3% | View data |
| 7 | 7 Bolivia | 350 | 2023 | -0.28% | -1.42% | View data |
| 8 | 8 Spain | 294 | 2023 | -2.97% | -4.02% | View data |
| 9 | 9 China | 261 | 2023 | +3.57% | +1.19% | View data |
| 10 | 10 Ukraine | 234 | 2023 | +2.63% | +1.71% | View data |
