Table 09: Soybean Oil: World Supply and Distribution


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Table 09: Soybean Oil: World Supply and Distribution

Thousand Metric Tons
Date Created 02/11/2025 12:00:40 PM

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	2020/21	2021/22	2022/23	2023/24	Jan 2024/25	Feb 2024/25
Production	nr	nr	nr	nr	nr	nr
China	17,024	16,128	17,203	17,741	18,458	18,458
United States	11,350	11,864	11,897	12,306	13,009	13,009
Brazil	9,335	10,153	10,580	10,940	11,000	11,200
Argentina	7,932	7,664	5,991	7,251	8,126	8,126
European Union	3,002	2,926	2,717	2,755	2,888	2,888
India	1,800	1,530	1,854	2,034	1,980	1,980
Mexico	1,145	1,171	1,227	1,205	1,227	1,227
Other	8,476	8,611	8,201	8,567	9,560	9,484

Total	60,064	60,047	59,670	62,799	66,248	66,372

Imports	nr	nr	nr	nr	nr	nr
India	3,251	4,231	3,968	3,308	3,800	3,800
Canada	48	63	147	573	700	700
Bangladesh	676	689	681	575	650	650
European Union	493	458	641	591	650	650
Peru	594	471	535	575	590	590
Morocco	507	529	514	500	560	560
China	1,221	291	395	381	500	500
Algeria	610	460	490	505	450	450
Iran	473	375	395	22	375	375
Korea, South	407	392	353	447	350	350
Other	3,530	3,481	2,773	3,105	3,502	3,502

Total	11,810	11,440	10,892	10,582	12,127	12,127

Exports	nr	nr	nr	nr	nr	nr
Argentina	6,137	4,873	4,137	5,533	5,800	5,800
Brazil	1,262	2,409	2,686	1,352	1,550	1,550
European Union	1,061	959	915	662	950	950
Russia	561	665	750	760	750	750
United States	786	803	171	280	726	726
Paraguay	562	371	523	497	580	550
Bolivia	525	523	620	430	480	480
Other	1,710	1,823	1,949	2,305	2,039	2,039

Total	12,604	12,426	11,751	11,819	12,875	12,845

Domestic Consumption	nr	nr	nr	nr	nr	nr
China	17,800	17,100	17,000	18,150	18,900	18,900
United States	10,574	11,262	12,070	12,356	12,519	12,519
Brazil	8,150	7,725	8,375	9,450	9,725	9,925
India	4,950	5,825	5,400	5,175	6,000	6,000
European Union	2,430	2,305	2,405	2,630	2,655	2,655
Argentina	2,045	2,650	2,060	1,710	2,360	2,360
Mexico	1,290	1,300	1,305	1,270	1,310	1,310
Bangladesh	1,205	1,100	985	935	1,020	1,020
Canada	230	240	320	685	910	910
Iran	850	850	900	725	900	900
Algeria	800	750	750	765	780	780
Egypt	1,010	960	560	480	710	710
Korea, South	600	600	565	600	585	585
Peru	535	555	540	540	575	575
Morocco	510	525	520	500	540	540
Other	6,032	6,114	5,145	5,247	6,251	6,251

Total	59,011	59,861	58,900	61,218	65,740	65,940

Ending Stocks	nr	nr	nr	nr	nr	nr
China	1,180	387	874	742	700	700
United States	967	903	729	681	694	694
European Union	443	563	601	655	588	588
India	265	186	597	748	513	513
Brazil	894	945	493	711	476	476
Other	2,194	2,159	1,760	1,861	2,141	2,141

Total	5,943	5,143	5,054	5,398	5,112	5,112

Most countries are on an October/September Marketing Year (MY). Mexico is on a September/August MY. Paraguay and Peru are on an January/December MY and Bolivia is on a March/February MY.