In 2023, China led global soybean oil production with 31.03 thousand metric tons, followed by the United States (18.1) and Brazil (13.94). Argentina and India also contributed significantly, with 13.61 and 3.05 respectively.
From 2021 to 2023, China and the United States showed moderate year-on-year growth, while Brazil, Argentina, and India experienced stable production levels with minor fluctuations. The Compound Annual Growth Rate (CAGR) for this period was marginal, indicating steady production trends.
Future trends to watch include:
- Potential shifts in production dominance due to technological advancements and changes in agricultural policies.
- Global economic conditions influencing supply chains and distribution networks.
- Increased demand for biodegradable resources might boost soybean oil production.
Top countries in Soybean Oil Production, Forecast 2021-2030 Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 China | 31.03 | 2030 | View data |
| 2 | 2 United States | 18.1 | 2030 | View data |
| 3 | 3 Brazil | 13.94 | 2030 | View data |
| 4 | 4 Argentina | 13.61 | 2030 | View data |
| 5 | 5 India | 3.05 | 2030 | View data |
| 6 | 6 Mexico | 1.89 | 2030 | View data |
| 7 | 7 Russia | 1.39 | 2030 | View data |
| 8 | 8 Egypt | 1.27 | 2030 | View data |
| 9 | 9 Bangladesh | 1.02 | 2030 | View data |
| 10 | 10 Pakistan | 0.85 | 2030 | View data |
