Soybean Oil Market - Argentina is the Largest Global Soya-Bean Oil Exporter despite 15% Drop in 2014 Vegetable And Animal Oils And Fats October 01, 2015
Author: Alexander Romanenko
Chief Executive Officer

soybean oil market

Argentina leads the way in the global soya-bean oil trade. In 2014, Argentina exported 4,059 thousand tonnes of soya-bean oil totaling 3,468 million USD, 15% under the previous year. Its primary trading partner on the global soybean oil market was India, where it supplied 40% of its total soya-bean oil exports in value terms, accounting for 70% of India's total imports.

From 2007 to 2014, Argentina was a net exporter of soya-bean oil. Over this period, exports consistently exceeded imports in value terms. However, in physical terms, the difference was less pronounced. It should also be noted that in 2012-2014 imports increased significantly, in comparison with 2007-2011.

Brazil and the U.S. were among the other main global suppliers of soya-bean oil in 2014. However, the fastest growing exporters from 2007 to 2014 were the Russian Federation (+83% per year) and Spain (+14% per year). Spain strengthened its position in the global export structure.

Argentina's top 5 trading partners in 2014 were India, Venezuela, China, Bangladesh and Peru, with a combined 74% share of Argentina's soya-bean oil exports. The share of India increased significantly (+26 percentage points), while the share of China illustrated negative dynamics (-25 percentage points). The shares of Argentina's other trading partners showed moderate growth.

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Source: World: Soya-Bean Oil - Market Report. Analysis And Forecast To 2020