The global soybean oil supply in 2023 saw China leading with the highest share, followed by the United States and Brazil. A significant positive change was observed in Brazil at 5.17% yearly, while Argentina experienced a 3.01% decline. Russia's supply surged by 6.13%, and Vietnam marked a robust 5.89% increase. Canada and Nigeria also showed remarkable growth above 7%. On the contrary, Bangladesh and Pakistan faced substantial declines of over 7% each. Chile exhibited remarkable growth, nearly reaching a 20% annual increase.
Future trends indicate a continuous rise in production from countries like Brazil, Canada, and Russia, driven by technological advances and expanded cultivation. Concerns over climate change and geopolitical tensions could affect the supply chain, offering potential shifts in global soybean oil distribution. Monitoring technological innovations, market demand, and policy changes remains crucial for accurate forecasting.
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 24.34 | 2023 | +8.06% | +0.3% | View data |
| 2 | 2 United States | 16.97 | 2023 | +1.51% | +1.77% | View data |
| 3 | 3 Brazil | 14.22 | 2023 | +3.68% | +5.17% | View data |
| 4 | 4 Argentina | 9.2 | 2023 | +9.63% | -3.01% | View data |
| 5 | 5 India | 7.13 | 2023 | -6.82% | +2.48% | View data |
| 6 | 6 Mexico | 1.98 | 2023 | +1.52% | -0.091% | View data |
| 7 | 7 Russia | 1.55 | 2023 | +4.7% | +6.13% | View data |
| 8 | 8 Algeria | 1.41 | 2023 | +6.86% | +1.68% | View data |
| 9 | 9 Bangladesh | 1.38 | 2023 | +10.05% | -7.15% | View data |
| 10 | 10 Iran | 1.24 | 2023 | +3.32% | +4.06% | View data |
