The global distribution of soybean oil in 2023 has China as the largest consumer, followed by the United States and Brazil. Among these, Brazil exhibited significant growth at 5.17%, while Argentina faced a decline of 3.01%. Noteworthy increases include Russia's 6.13%, Nigeria's 7.69%, and Chile's remarkable 19.99% spike. Bangladesh and Pakistan experienced notable decreases of 7.15% and 8.52%, respectively. Smaller markets like Zimbabwe and Ethiopia also showed substantial growth, at 22.93% and 24.57% respectively.
Future trends to monitor include potential shifts in distribution due to changes in global trade policies, technological advancements in agriculture, and environmental impacts that could alter soybean production and consumption patterns worldwide.
Top countries in Soybean Oil Distribution by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 18,880 | 2023 | +6.16% | +2.51% | View data |
| 2 | 2 United States | 13,170 | 2023 | +1.51% | +1.77% | View data |
| 3 | 3 Brazil | 11,030 | 2023 | +3.68% | +5.17% | View data |
| 4 | 4 Argentina | 7,140 | 2023 | +9.63% | -3.01% | View data |
| 5 | 5 India | 5,540 | 2023 | -6.82% | +2.48% | View data |
| 6 | 6 Mexico | 1,540 | 2023 | +1.52% | -0.091% | View data |
| 7 | 7 Russia | 1,200 | 2023 | +4.7% | +6.13% | View data |
| 8 | 8 Algeria | 1,090 | 2023 | +6.86% | +1.68% | View data |
| 9 | 9 Bangladesh | 1,070 | 2023 | +10.05% | -7.15% | View data |
| 10 | 10 Iran | 964 | 2023 | +3.32% | +4.06% | View data |
