Soybean Oil Price

Soybean Oil: 1,638 USD/mt (World, Aug 2026). Source: World Bank.

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Recent prices

Period	Price (USD/mt)	Change
Aug 2026	1,638	-1.2%
Jul 2026	1,658	-4.7%
Jun 2026	1,740	-2.3%
May 2026	1,781	+8.4%
Apr 2026	1,643	+10.0%
Mar 2026	1,493	+16.5%
Feb 2026	1,282	+11.1%
Jan 2026	1,154	+3.4%
Dec 2025	1,116	-1.1%
Nov 2025	1,128	-0.4%
Oct 2025	1,132	-2.3%
Sep 2025	1,159	-6.9%

Annual averages

Year	Average (USD/mt)	Change
2026 (year to date)	1,548.63	+35.9%
2025	1,139.67	+11.5%
2024	1,022	-8.6%
2023	1,118.5	-32.9%
2022	1,666.92	+20.3%
2021	1,385.5	+65.4%
2020	837.83	+9.4%
2019	765.5	-3.0%
2018	789.25	-7.2%
2017	850.5	+4.4%

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. A fast-growing share now goes into US renewable diesel (a fuel chemically closer to regular diesel than older-style biodiesel), which has pulled enough soybean oil out of the food-oil market since the early 2020s to noticeably tighten supply and lift prices, on top of its usual role as animal feed byproduct oil. Prices move with the broader vegetable oil complex and with the crush margin relative to raw soybeans.

Latest World price (2026-08): +27% vs. the 5-year average, +50% vs. the 10-year average, +32% vs. a year ago.

Top Soybean Oil Producers

Rank	Country
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
51	Malawi	24,500 t
52	Philippines	24,005 t
53	Benin	23,600 t
54	Belgium	23,000 t
55	Ghana	22,400 t
56	Nepal	22,100 t
57	Uruguay	21,500 t
58	Lebanon	20,700 t
59	North Korea	20,000 t
60	Uganda	18,600 t
61	Cameroon	17,518 t
62	Myanmar (Burma)	15,400 t
63	Zimbabwe	13,500 t
64	Ethiopia	12,400 t
65	Chile	9,800 t
66	United Arab Emirates	9,400 t
67	Czechia	8,545 t
68	Slovakia	8,500 t
69	Australia	7,800 t
70	Panama	7,000 t
71	Cambodia	6,500 t
72	Guatemala	6,480 t
73	Morocco	6,400 t
74	Bosnia & Herzegovina	5,500 t
75	Dominican Republic	5,300 t
76	Mozambique	5,000 t
77	Croatia	4,000 t
78	Belize	3,978 t
79	Singapore	3,600 t
80	Finland	3,400 t
81	Georgia	3,300 t
82	Ireland	3,200 t
83	Jordan	3,000 t
84	Sweden	2,514 t
85	Uzbekistan	2,040 t
86	Sri Lanka	2,016 t
87	Barbados	2,000 t
88	Ecuador	2,000 t
89	Nicaragua	1,800 t
90	Bulgaria	1,700 t
91	Denmark	1,597 t
92	Cuba	1,549 t
93	Trinidad & Tobago	1,351 t
94	Peru	1,026 t
95	Syria	1,000 t
96	Mali	900 t
97	Gabon	836 t
98	Moldova	830 t
99	Switzerland	423 t
100	Lithuania	400 t
101	Laos	385 t
102	Honduras	326 t
103	St. Vincent & Grenadines	93 t
104	Albania	76 t
105	Kuwait	12 t
106	Jamaica	9 t
107	Libya	0 t

FAOSTAT production data, 2023.

Top Soybean Oil Importers

Rank	Country
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
51	Sweden	24,111 t
52	Australia	23,823 t
53	Bulgaria	21,858 t
54	El Salvador	21,569 t
55	Brazil	21,374 t
56	Greece	20,770 t
57	Senegal	19,370 t
58	Kuwait	18,690 t
59	Czechia	17,478 t
60	Zambia	16,695 t
61	Trinidad & Tobago	15,675 t
62	Kenya	15,148 t
63	Mauritius	14,082 t
64	Singapore	13,478 t
65	Portugal	13,116 t
66	Haiti	12,025 t
67	Bhutan	11,287 t
68	Honduras	10,783 t
69	Slovenia	10,774 t
70	Nicaragua	10,704 t
71	Romania	10,000 t
72	Saudi Arabia	9,707 t
73	Fiji	9,358 t
74	Israel	8,961 t
75	New Zealand	8,602 t
76	Switzerland	7,939 t
77	Tajikistan	7,799 t
78	Macao SAR China	7,345 t
79	Libya	5,624 t
80	Eswatini	5,422 t
81	Cyprus	5,040 t
82	Papua New Guinea	4,765 t
83	Croatia	4,487 t
84	Uruguay	4,317 t
85	Guyana	4,281 t
86	Suriname	4,160 t
87	Cape Verde	4,153 t
88	Lithuania	3,985 t
89	Yemen	3,877 t
90	Somalia	3,800 t
91	Belarus	3,700 t
92	Bahrain	3,616 t
93	Uzbekistan	3,506 t
94	Mongolia	3,355 t
95	Hungary	3,309 t
96	Faroe Islands	3,000 t
97	Costa Rica	2,962 t
98	Lebanon	2,948 t
99	Japan	2,800 t
100	Eritrea	2,763 t
101	Tanzania	2,642 t
102	Botswana	2,611 t
103	Iceland	2,423 t
104	Austria	2,356 t
105	Bolivia	2,215 t
106	Ghana	2,198 t
107	Azerbaijan	1,863 t
108	Syria	1,840 t
109	Qatar	1,828 t
110	Slovakia	1,751 t
111	Rwanda	1,713 t
112	São Tomé & Príncipe	1,659 t
113	Türkiye	1,624 t
114	Malta	1,601 t
115	Solomon Islands	1,447 t
116	Guinea-Bissau	1,438 t
117	Bosnia & Herzegovina	1,235 t
118	Cambodia	1,004 t
119	Paraguay	1,000 t
120	Latvia	950 t
121	Nigeria	916 t
122	Myanmar (Burma)	886 t
123	Albania	863 t
124	Armenia	847 t
125	Norway	838 t
126	Turkmenistan	737 t
127	Bahamas	733 t
128	Namibia	671 t
129	Lesotho	611 t
130	Antigua & Barbuda	583 t
131	Laos	557 t
132	Estonia	550 t
133	Barbados	540 t
134	Belize	537 t
135	St. Lucia	536 t
136	Maldives	495 t
137	Mali	486 t
138	Ukraine	394 t
139	Malawi	393 t
140	St. Kitts & Nevis	391 t
141	Georgia	380 t
142	Congo - Brazzaville	367 t
143	Marshall Islands	359 t
144	Grenada	355 t
145	Brunei	354 t
146	Guinea	344 t
147	Togo	321 t
148	Dominica	286 t
149	Côte d’Ivoire	279 t
150	Serbia	278 t
151	North Macedonia	275 t
152	Luxembourg	257 t
153	Sri Lanka	245 t
154	St. Vincent & Grenadines	205 t
155	Kazakhstan	178 t
156	Tonga	164 t
157	Taiwan	119 t
158	New Caledonia	119 t
159	Ethiopia	118 t
160	Cameroon	95 t
161	Finland	92 t
162	Sudan	86 t
163	Russia	84 t
164	Kyrgyzstan	62 t
165	Moldova	58 t
166	Congo - Kinshasa	58 t
167	Liberia	48 t
168	Equatorial Guinea	47 t
169	Central African Republic	37 t
170	Niger	35 t
171	Djibouti	33 t
172	Thailand	29 t
173	Cook Islands	26 t
174	Palau	25 t
175	French Polynesia	23 t
176	Burundi	22 t
177	Comoros	20 t
178	Argentina	14 t
179	Tuvalu	9 t
180	Samoa	8 t
181	Gabon	6 t
182	Kiribati	4 t
183	Micronesia (Federated States of)	4 t
184	Vanuatu	3 t
185	Naoero	2 t
186	Palestinian Territories	1 t
187	Niue	1 t
188	Seychelles	1 t
189	South Sudan	0 t
190	Sierra Leone	0 t
191	Timor-Leste	0 t
192	Uganda	0 t

FAOSTAT trade data, 2023.

Top Soybean Oil Exporters

Rank	Country
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
51	Moldova	6,904 t
52	Uganda	6,270 t
53	Austria	5,970 t
54	Slovenia	5,689 t
55	Nepal	5,565 t
56	Algeria	5,200 t
57	Latvia	4,737 t
58	Hong Kong SAR China	4,695 t
59	Lithuania	4,268 t
60	Belize	3,550 t
61	Bosnia & Herzegovina	2,998 t
62	Singapore	2,983 t
63	Finland	2,011 t
64	Australia	1,820 t
65	South Korea	1,724 t
66	Malawi	1,679 t
67	Japan	1,455 t
68	Czechia	1,088 t
69	Madagascar	1,061 t
70	Senegal	1,042 t
71	Bangladesh	900 t
72	Croatia	849 t
73	Kenya	820 t
74	Barbados	782 t
75	Denmark	769 t
76	Mozambique	758 t
77	Mauritius	543 t
78	Tanzania	524 t
79	Oman	473 t
80	Tunisia	472 t
81	Trinidad & Tobago	444 t
82	Switzerland	370 t
83	Estonia	295 t
84	Panama	259 t
85	El Salvador	256 t
86	Chile	231 t
87	Ghana	206 t
88	Bulgaria	177 t
89	Nicaragua	130 t
90	Venezuela	113 t
91	Peru	84 t
92	Fiji	67 t
93	Luxembourg	49 t
94	Nigeria	36 t
95	Jamaica	28 t
96	New Zealand	23 t
97	Lebanon	19 t
98	Guyana	14 t
99	Angola	11 t
100	Indonesia	10 t
101	Sri Lanka	8 t
102	Bahrain	8 t
103	Zimbabwe	4 t
104	Botswana	3 t
105	Cape Verde	2 t
106	Iran	1 t
107	Samoa	1 t
108	Honduras	0 t
109	Sudan	0 t
110	Malta	0 t
111	Pakistan	0 t
112	Somalia	0 t
113	Namibia	0 t
114	Côte d’Ivoire	0 t
115	Cameroon	0 t
116	Armenia	0 t

FAOSTAT trade data, 2023.

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