Which Country Imports the Most Soya-bean Oil in the World?

Vegetable And Animal Oils And Fats January 25, 2018
Author: Sergey Avramenko
Head of Global Markets Research Team

Global soybean oil imports amounted to 12,150 thousand tonnes in 2015, jumping by +21.6% against the previous year level. Overall, the global soybean oil imports indicated a moderate growth from 2007 to 2015. The trend pattern, however, indicated some noticable fluctuations throughout the analyzed period. The total import volume increased at an average annual rate of +0.1% over the last eight years.

The growth pace was the most rapid in 2015, when the output figure increased by +22% from the previous year level. In that year, the global soybean oil imports reached its maximum volume, and is likely to continue its growth in the immediate term.

In value terms, global soybean oil imports amounted to $9,694 million in 2015. Overall, the value of global soybean oil imports increased moderately from 2007 to 2015, expanding at an average annual rate of +0.8%. This trend pattern, however, indicated relatively mild fluctuations throughout the analyzed period.

Top Soybean Oil Importing Countries in the World

1. India (3509K Tonnes)

2. Bangladesh (1239K Tonnes)

3. China (818K Tonnes)

4. Algeria (622K Tonnes)

5. Morocco (448K Tonnes)

6. Iran (433K Tonnes)

7. Venezuela (421K Tonnes)

Soybean Oil Imports By Country

The country with the largest volume of the soybean oil imports in absolute volumes was India (3,509 thousand tonnes), accounting for 29% of global imports. It was followed by Bangladesh (1,239 thousand tonnes), with a share of 10% of global imports. Moreover, soybean oil imports in India exceeded the figures recorded by the world's second largest importer, Bangladesh (1,239 thousand tonnes), threefold. The third position in this ranking was occupied by China with a share of 7%.

From 2007 to 2015, an average annual growth rate of soybean oil imports in India stood at +14.4%. The remaining importing countries recorded the following average annual growth rates: Bangladesh (+4.3% per year) and China (-14.3% per year).

In value terms, the country with the largest volume of imports of soybean oil in absolute volumes was India (2,698 million USD), making up 28% of global imports. The second position in the ranking was occupied by Bangladesh (945 million USD), with a share of 10% of global imports. Moreover, soybean oil imports in India exceeded the figures recorded by the world's second largest importer, Bangladesh (945 million USD), threefold. It was followed by China with a share of 7%.

From 2007 to 2015, an average annual growth rate of soybean oil imports in India was at +18.3%. The remaining importing countries experienced the following average annual growth rates: Bangladesh (+5.4% per year) and China (-13.9% per year).

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  • soybean oil market share
  • soybean oil prices
  • soybean oil industry
  • soybean oil sales
  • soybean oil import
  • soybean oil export
  • soybean oil market forecast
  • soybean oil price forecast
  • key soybean oil producers

Source: World: Soya-Bean Oil - Market Report. Analysis And Forecast To 2025