Soybean Oil Price

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"World" is the global benchmark price (World Bank Pink Sheet, monthly since 1960, where available). Currency conversion uses monthly ECB reference rates since 1999 (some currencies joined later) — for comparison, not precise historical FX accounting.

Top Producers

Rank	Country	Quantity
1	China	17,356,200 t
2	United States	12,227,000 t
3	Brazil	10,890,989 t
4	Argentina	5,275,641 t
5	India	2,093,000 t
6	Russia	1,015,900 t
7	Mexico	993,791 t
8	Paraguay	634,400 t
9	Germany	606,500 t
10	Spain	579,400 t
11	Netherlands	532,200 t
12	Italy	501,200 t
13	Thailand	494,800 t
14	Japan	493,965 t
15	Taiwan	458,900 t
16	Iran	449,000 t
17	Bolivia	398,524 t
18	Egypt	394,100 t
19	Canada	329,856 t
20	Türkiye	328,300 t
21	South Africa	322,900 t
22	Ukraine	307,900 t
23	Bangladesh	294,100 t
24	Algeria	243,700 t
25	Vietnam	222,700 t
26	South Korea	193,200 t
27	Portugal	168,600 t
28	United Kingdom	161,500 t
29	Nigeria	140,500 t
30	Iraq	126,665 t
31	Colombia	117,500 t
32	France	102,000 t
33	Malaysia	102,000 t
34	Pakistan	97,600 t
35	Tunisia	96,300 t
36	Saudi Arabia	89,200 t
37	Zambia	81,500 t
38	Norway	72,000 t
39	Serbia	64,270 t
40	Belarus	56,600 t
41	Romania	51,500 t
42	Israel	51,200 t
43	Costa Rica	46,800 t
44	Venezuela	43,306 t
45	Togo	35,000 t
46	Austria	34,600 t
47	Greece	34,300 t
48	Poland	33,100 t
49	Kazakhstan	27,475 t
50	Hungary	24,600 t

FAOSTAT production data, 2023.

Top Importers

Rank	Country	Quantity
1	India	3,502,886 t
2	Bangladesh	653,588 t
3	Peru	535,189 t
4	Algeria	531,583 t
5	Morocco	474,582 t
6	South Korea	442,489 t
7	China	399,457 t
8	Venezuela	358,754 t
9	Spain	287,558 t
10	Iran	285,823 t
11	Egypt	279,269 t
12	Colombia	248,837 t
13	Poland	242,398 t
14	Canada	223,203 t
15	Pakistan	206,383 t
16	United States	194,249 t
17	Dominican Republic	186,013 t
18	Chile	178,070 t
19	United Kingdom	172,835 t
20	Zimbabwe	156,101 t
21	Netherlands	155,926 t
22	Mauritania	139,047 t
23	Germany	136,350 t
24	France	124,286 t
25	Italy	113,749 t
26	Nepal	113,600 t
27	Mexico	109,335 t
28	Guatemala	99,511 t
29	Ecuador	93,601 t
30	Belgium	89,221 t
31	Cuba	80,131 t
32	Malaysia	70,500 t
33	North Korea	67,989 t
34	Vietnam	66,004 t
35	Ireland	64,780 t
36	Hong Kong SAR China	56,799 t
37	Philippines	51,846 t
38	Iraq	50,000 t
39	Angola	41,785 t
40	United Arab Emirates	40,566 t
41	Jordan	37,925 t
42	Madagascar	37,450 t
43	Tunisia	37,309 t
44	Panama	32,979 t
45	Indonesia	31,568 t
46	Denmark	30,569 t
47	Mozambique	29,018 t
48	Jamaica	28,379 t
49	Oman	26,950 t
50	South Africa	25,764 t

FAOSTAT trade data, 2023.

Top Exporters

Rank	Country	Quantity
1	Argentina	3,683,286 t
2	Brazil	2,333,865 t
3	Bolivia	580,383 t
4	Netherlands	530,524 t
5	Paraguay	522,687 t
6	Russia	489,808 t
7	Spain	343,690 t
8	Ukraine	297,528 t
9	Türkiye	291,407 t
10	Thailand	265,463 t
11	Italy	222,110 t
12	United States	150,583 t
13	Canada	140,444 t
14	Portugal	137,039 t
15	China	124,896 t
16	Iraq	117,331 t
17	Malaysia	100,290 t
18	Vietnam	91,484 t
19	Poland	86,253 t
20	Germany	82,548 t
21	South Africa	80,687 t
22	Egypt	75,655 t
23	Norway	71,831 t
24	Serbia	69,240 t
25	France	61,531 t
26	Saudi Arabia	58,111 t
27	Colombia	52,880 t
28	Slovakia	52,585 t
29	Taiwan	43,954 t
30	Belgium	31,728 t
31	United Kingdom	28,526 t
32	United Arab Emirates	28,252 t
33	Togo	22,411 t
34	Hungary	19,550 t
35	Mexico	19,404 t
36	Costa Rica	15,386 t
37	Dominican Republic	14,838 t
38	Kazakhstan	12,879 t
39	Romania	12,037 t
40	India	11,927 t
41	Greece	10,539 t
42	Ireland	10,275 t
43	Guatemala	9,692 t
44	Benin	8,413 t
45	Morocco	8,252 t
46	Belarus	8,242 t
47	Sweden	7,984 t
48	Uruguay	7,944 t
49	Ecuador	7,582 t
50	Zambia	6,923 t

FAOSTAT trade data, 2023.

About Soybean Oil

The vegetable oil pressed from soybeans (cooking oil, biodiesel) — one half of the "soybean crush", the other being soybean meal. The US, Brazil and Argentina are the largest producers; prices move with the broader vegetable oil complex and with the crush margin relative to raw soybeans.

Latest World price (2025-12): -12% vs. the 5-year average, +8% vs. the 10-year average, +5% vs. a year ago.