The 2024 global soybean oil import landscape shows India leading with 3.3 million metric tons, reflecting a 1.92% increase from 2023. Significant year-on-year growth is observed in Canada (45.5%), Saudi Arabia (28.99%), and Chile (30.92%). Conversely, noteworthy declines include Argentina (-100%) and North Korea (-21.97%). Over five years, the Compound Annual Growth Rate (CAGR) is significantly positive for Canada and Lebanon, indicating sustained upward trends. In contrast, countries like Argentina and North Korea exhibit declining trends.
Future trends to watch include increasing import demand in rapidly developing economies and potential impacts of global supply chain disruptions, influencing price variability and import volumes.
Top countries in Soybean Oil Import by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 India | 3,300 | 2023 | -15.38% | +1.92% | View data |
| 2 | 2 Bangladesh | 725 | 2023 | +6.46% | -6.89% | View data |
| 3 | 3 Algeria | 580 | 2023 | +16% | -8.39% | View data |
| 4 | 4 Peru | 575 | 2023 | +9.52% | +1.3% | View data |
| 5 | 5 Morocco | 550 | 2023 | +4.76% | +0.52% | View data |
| 6 | 6 China | 400 | 2023 | +22.22% | -2.68% | View data |
| 7 | 7 South Korea | 350 | 2023 | -0.85% | +1.31% | View data |
| 8 | 8 Colombia | 350 | 2023 | +40% | +0.4% | View data |
| 9 | 9 Iran | 275 | 2023 | +266.67% | -4.49% | View data |
| 10 | 10 Egypt | 235 | 2023 | +17.5% | -2.74% | View data |
