Market research

Soybean oil and fractions market in MERCOSUR

$Soybean oil and fractions market in MERCOSUR$

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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"MERCOSUR" region includes following countries:

Brazil

Argentina

Uruguay

Paraguay

Earlier Report Observations

The market volume for chemically unmodified soybean oil and fractions in MERCOSUR fluctuated significantly between 2018 and 2023. After reaching 13.9 million tons in 2019, consumption dropped to 10.6 million tons in 2020, then recovered to 12.1 million tons in 2021. A sharp decline followed in 2022 to 9.5 million tons, with a partial rebound to 10.3 million tons in 2023.

In 2024, key developments included a rise in exports of crude and refined soybean oil from Argentina and Brazil to markets such as Bangladesh and Peru, driven by regional and global demand. Furthermore, the gradual implementation of the Mercosur-European Union agreement, with tariff reductions, began to facilitate access for soybean oil products to the European market.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in MERCOSUR
  1. 5.1.1. Annual dynamics of production in MERCOSUR in kind, 2018-2023, K t
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, K t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, K t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, K t
    1. 6.1.2.1. Annual dynamics of product's imports to Brazil in kind, 2018-2024, K t
    2. 6.1.2.2. Dynamics of product's imports in kind to Brazil by countries, 2018-2024, K t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Brazil in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Brazil by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Brazil, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Brazil by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, K t
    1. 6.2.2.1. Annual dynamics of product's imports to Brazil in kind, 2018-2024, K t
    2. 6.2.2.2. Dynamics of product's imports in kind to Brazil by countries, 2018-2024, K t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Brazil in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Brazil by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Brazil, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Brazil by countries, 2018-2024, $ US/t
7. Exports
1. 7.1. Exports (Direct Data)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, K t
    1. 7.1.2.1. Annual dynamics of product's exports from Brazil in kind, 2018-2024, K t
    2. 7.1.2.2. Dynamics of product's exports in kind from Brazil by countries, 2018-2024, K t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Brazil in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Brazil by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Brazil, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from Brazil by countries, 2018-2024, $ US/t
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, K t
    1. 7.2.2.1. Annual dynamics of product's exports from Brazil in kind, 2018-2024, K t
    2. 7.2.2.2. Dynamics of product's exports in kind from Brazil by countries, 2018-2024, K t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Brazil in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Brazil by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Brazil, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from Brazil by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production soybean oil and fractions in MERCOSUR

In kind, 2017-2020, K t

Top producers of soybean oil and fractions, 2017-2020

Source: SHEV.io

World map of production of soybean oil and fractions, 2017-2020

Source: SHEV.io

In 2019, MERCOSUR's production of soybean oil and fractions reached its peak at 20 601 K t, marking an 18.5% increase from the previous year. However, production declined to 17 399 K t in 2020, representing a 15.5% drop compared to 2019. Over the period from 2017 to 2020, overall production decreased by 8.3%, with a compound annual growth rate (CAGR) of 2.9%. The lowest production level was recorded in 2018 at 17 387 K t.

Annual dynamics of production in MERCOSUR in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(8.4%)	18.5%	(15.5%)	(2.9%)

Source: SHEV.io

In value, 2017-2020, M $ US

In 2019, the value of soybean oil and fractions production in MERCOSUR increased by 8.8% from the previous year. However, in 2020, output was valued at 12 258 M $ US, showing a modest decline of 8.2% compared to 2019. Between 2017 and 2020, production value decreased by 13.9%, equating to an annualized rate of 4.9%. The largest decline occurred in 2018, with a drop of 13.8%.

Annual dynamics of production in MERCOSUR in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(13.8%)	8.8%	(8.2%)	(4.9%)

Source: SHEV.io

Exports soybean oil and fractions from MERCOSUR

Exports in kind, K t

MERCOSUR's exports of soybean oil and fractions by volume increased for the second consecutive year in 2020, reaching 6 981 K t, which is a 3.9% rise from 2019. In 2019, exports saw the largest increase of 10.2%. The lowest export volume was recorded in 2018 at 6 093 K t, which also marked the largest decline of 12.7% that year.

Annual dynamics of product's exports from MERCOSUR in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(12.7%)	10.2%	3.9%	0.0%

Source: SHEV.io

From 2017 to 2020, India, Bangladesh, and China formed the core group of markets for MERCOSUR's soybean oil and fractions exports by volume. India accounted for 48.9% of exports, Bangladesh for 11.9%, and China for 6.9%, together representing 67.6% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's exports from MERCOSUR in kind, 2017-2020

Source: SHEV.io

Exports in value, M $ US

MERCOSUR's exports of soybean oil and fractions by value increased for the second consecutive year in 2020, totaling 4 919 M $ US, a 13.0% rise from 2019. However, between 2017 and 2020, overall exports decreased by 6%, with an annualized rate of 2.1%. The lowest export value was recorded in 2018 at 4 302 M $ US, which also saw the largest decline of 17.8%.

Annual dynamics of product's exports from MERCOSUR in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(17.8%)	1.2%	13.0%	(2.1%)

Source: SHEV.io

From 2017 to 2020, India, Bangladesh, and China were the three main markets for MERCOSUR's soybean oil and fractions exports by value, together absorbing 66.9% of total exports.

Structure of product's exports in value by countries, 2017-2020

Source: SHEV.io

World map of product's exports from MERCOSUR in value, 2017-2020

Source: SHEV.io

Imports soybean oil and fractions to MERCOSUR

Imports in kind, K t

MERCOSUR's imports of soybean oil and fractions by volume showed volatility from 2017 to 2020. The lowest import volume was recorded in 2018 at 49 K t, which also saw the largest decline of 24.2%. In 2020, imports surged to 221 K t, a 304.4% increase from 2019, reaching the highest level during this period. The gap between the lowest and highest import volumes was 4.5-fold.

Annual dynamics of product's imports to MERCOSUR in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(24.2%)	11.2%	304.4%	50.5%

Source: SHEV.io

From 2017 to 2020, Bolivia was the main supplier of soybean oil and fractions to MERCOSUR by volume, accounting for 0.8% of total imports.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to MERCOSUR in kind, 2017-2020

Source: SHEV.io

Imports in value, M $ US

MERCOSUR's imports of soybean oil and fractions by value exhibited volatility from 2017 to 2020. The lowest import value was recorded in 2018 at 39 M $ US, which also experienced the largest decline of 33.3%. In 2020, imports rose sharply to 183 M $ US, a 316.0% increase from 2019, marking the highest level in this period. The peak-to-trough ratio was 4.6 times.

Annual dynamics of product's imports to MERCOSUR in value, 2017-2020, M $ US