In 2023, Argentina led global soybean oil exports, valued at $4.11 billion. Brazil and the United States followed with values of $0.8983 billion and $0.82422 billion, respectively. Paraguay, the Netherlands, and Russia comprised the mid-tier exporters, while Germany, Spain, Malaysia, and Canada rounded out the list.
From 2022 to 2023, Argentina experienced steady growth, bolstered by robust production and competitive pricing. Brazil and the United States showed moderate increases in exports, reflecting stable market demands. Meanwhile, European nations like the Netherlands and Germany expanded their market share within the EU, resulting in moderate export growth.
Looking ahead, demand for soybean oil is expected to increase due to its versatile uses in food products and biodiesel. Expect intensifying competition among top exporters, with Argentina likely maintaining dominance. However, sustainable production practices and fluctuating agricultural yields pose potential challenges for future growth.
Top countries in Top Exporters of Soybean Oil
| # | 10 Countries | Million US Dollars | Last Year | |
|---|---|---|---|---|
| 1 | 1 Argentina | 4,110 | 2016 | |
| 2 | 2 Brazil | 898.3 | 2016 | |
| 3 | 3 United States | 824.22 | 2016 | |
| 4 | 4 Paraguay | 466.16 | 2016 | |
| 5 | 5 Netherlands | 435.53 | 2016 | |
| 6 | 6 Russia | 345.28 | 2016 | |
| 7 | 7 Germany | 259.57 | 2016 | |
| 8 | 8 Spain | 257.58 | 2016 | |
| 9 | 9 Malaysia | 152.28 | 2016 | |
| 10 | 10 Canada | 127.77 | 2016 |
