U.S. - Refined Soybean Oil And Its Fractions - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRefined Soybean Oil Price in the United States - 2023
Contents:
- Refined Soybean Oil Price in the United States (CIF) - 2023
- Refined Soybean Oil Price in the United States (FOB) - 2023
- Refined Soybean Oil Imports in the United States
- Refined Soybean Oil Exports in the United States
Refined Soybean Oil Price in the United States (CIF) - 2023
The average refined soybean oil import price stood at $1,679 per ton in September 2023, jumping by 29% against the previous month. In general, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $1,783 per ton in November 2022; however, from December 2022 to September 2023, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In September 2023, the country with the highest price was Mexico ($1,757 per ton), while the price for Argentina ($1,326 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Canada (-0.3%), while the prices for the other major suppliers experienced a decline.
Refined Soybean Oil Price in the United States (FOB) - 2023
The average refined soybean oil export price stood at $1,945 per ton in September 2023, picking up by 4.5% against the previous month. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 an increase of 5.7% m-o-m. Over the period under review, the average export prices reached the maximum at $2,142 per ton in December 2022; however, from January 2023 to September 2023, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major export markets. In September 2023, the highest price was recorded for prices to Canada ($1,983 per ton) and Saudi Arabia ($1,979 per ton), while the average price for exports to Panama ($1,804 per ton) and Mexico ($1,893 per ton) were amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-0.1%), while the prices for the other major destinations experienced a decline.
Refined Soybean Oil Imports in the United States
In 2022, the amount of refined soybean oil and its fractions imported into the United States fell notably to 94K tons, with a decrease of -24.3% against the year before. Over the period under review, imports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year.
In value terms, refined soybean oil imports fell to $170M in 2022. Overall, imports, however, showed strong growth. The growth pace was the most rapid in 2021 when imports increased by 111% against the previous year. As a result, imports attained the peak of $191M, and then contracted in the following year.
| Import of Refined Soybean Oil in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 118 | 83.6 | 186 | 162 | 11.1% |
| Mexico | 6.0 | 5.1 | 4.4 | 6.7 | 3.7% |
| Others | 0.6 | 1.6 | 0.8 | 1.7 | 41.5% |
| Total | 125 | 90.3 | 191 | 170 | 10.8% |
Top Suppliers of Refined Soybean Oil to the United States in 2022:
- Canada (90.0K tons)
- Mexico (3.7K tons)
Refined Soybean Oil Exports in the United States
Refined soybean oil exports from the United States rose sharply to 127K tons in 2022, surging by 12% against 2021. In general, exports, however, continue to indicate a deep reduction.
In value terms, refined soybean oil exports soared to $242M in 2022. Overall, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +15.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +54.2% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Refined Soybean Oil in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 21.3 | 43.7 | 58.9 | 150 | 91.7% |
| Mexico | 78.2 | 66.5 | 58.1 | 19.9 | -36.6% |
| South Korea | 3.8 | 9.8 | 1.1 | 10.3 | 39.4% |
| Colombia | 6.1 | 8.6 | 4.5 | 8.3 | 10.8% |
| Haiti | N/A | 2.4 | 1.8 | 8.3 | 86.0% |
| United Arab Emirates | 4.6 | 3.7 | 5.1 | 5.6 | 6.8% |
| Panama | 3.4 | 2.9 | 3.2 | 4.6 | 10.6% |
| Kuwait | 2.3 | 1.7 | 2.8 | 4.4 | 24.1% |
| Saudi Arabia | 6.1 | 5.7 | 5.8 | 3.8 | -14.6% |
| Trinidad and Tobago | 8.7 | 7.8 | 6.2 | 2.8 | -31.5% |
| Honduras | 2.9 | 3.8 | 3.8 | 2.0 | -11.6% |
| Others | 19.9 | 16.4 | 25.4 | 22.5 | 4.2% |
| Total | 157 | 173 | 177 | 242 | 15.5% |
Top Export Markets for Refined Soybean Oil from the United States in 2022:
- Canada (77.7K tons)
- Mexico (10.8K tons)
- South Korea (7.1K tons)
- Colombia (5.5K tons)
- Haiti (5.5K tons)
- United Arab Emirates (2.3K tons)
- Panama (2.1K tons)
- Kuwait (2.0K tons)
- Saudi Arabia (1.7K tons)
- Trinidad and Tobago (1.3K tons)
- Honduras (1.2K tons)
This report provides an in-depth analysis of the refined soybean oil market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10415100 - Refined soya-bean oil and its fractions (excluding chemically modified)
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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This comprehensive guide provides valuable information and resources for starting a business in the Soybean Oil market in the United States. Learn about market data, official data sources, help from local authorities, and the IndexBox market intelligence platform.
566
In August 2022, the soybean oil price per ton stood at $1.8K (FOB, US), rising by 6.6% against the previous month.
661
In July 2022, the soybean oil price per ton stood at $1,686, declining by -6.9% against the previous month.
228
Between May 2023 and August 2023, the exports of Crude Soybean Oil experienced a slowdown in growth. The value of these exports significantly declined to $7.5M in August 2023.
1291
In 2022, soybean oil prices are forecast to rise by nearly 4% to $1,425 per ton, driven by boosting demand for biofuels. In 2021, the average annual soybean oil price skyrocketed, rising 65% y-o-y to $1,385 per ton. India remains the world’s largest soybean oil importer, while Argentina holds the position of the leading global supplier.
1022
The soybean oil market indicates steady growth, despite the COVID-19 pandemic cut demand for biofuel. The competitive price of soybean oil, against the price for sunflower and palm oil, combined with the potential growth in demand for biofuels and increasingly robust environmental standards, signal tangible prospects for the further development of the soybean oil market.
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Global soybean oil consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
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Global soybean oil exports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
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Global soybean oil imports amounted to X thousand tons in 2015, jumping by +X% against the previous year level.
4140
In 2015, the countries with the highest levels of production were China (X thousand tons), the United States (X thousand tons), Brazil (X thousand tons), together accounting for X% of total output.
