Market research

Soybean oil and fractions market in South America

$Soybean oil and fractions market in South America$

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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"South America" region includes following countries:

Argentina

Bolivia

Bouvet Island

Brazil

Chile

Colombia

Ecuador

Falkland Islands (Malvinas)

South Georgia and the South Sandwich Islands

French Guiana

Guyana

Paraguay

Peru

Suriname

Uruguay

Venezuela

Earlier Report Observations

The South American market for non-chemically modified soybean oil experienced notable volume swings between 2018 and 2023. After reaching 15 325 thousand tons in 2019, consumption contracted to 12 123 thousand tons in 2020.

A recovery to 14 000 thousand tons in 2021 was driven primarily by rising biodiesel demand in Brazil, where environmental policies increased domestic consumption of soybean oil for biofuel production. Market volume then fell to 11 102 thousand tons in 2022, as supply constraints in Argentina—a key global exporter—due to climatic factors limited regional availability amid strong international demand that boosted exports. A modest rebound to 11 438 thousand tons in 2023 occurred alongside sustained demand from Brazil's biodiesel and food industries, supported by ongoing investments in processing capacity.

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 South America
  1. 5.1.1. Annual dynamics of production in South America 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 Argentina in kind, 2018-2024, K t
    2. 6.1.2.2. Dynamics of product's imports in kind to Argentina 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 Argentina in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Argentina 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 Argentina, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Argentina 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 Argentina in kind, 2018-2024, K t
    2. 6.2.2.2. Dynamics of product's imports in kind to Argentina 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 Argentina in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Argentina 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 Argentina, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Argentina 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 Argentina in kind, 2018-2024, K t
    2. 7.1.2.2. Dynamics of product's exports in kind from Argentina 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 Argentina in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Argentina 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 Argentina, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from Argentina 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 Argentina in kind, 2018-2024, K t
    2. 7.2.2.2. Dynamics of product's exports in kind from Argentina 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 Argentina in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Argentina 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 Argentina, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from Argentina 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 South America

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, South America produced 21 295 thousand metric tons of soybean oil and fractions, marking the highest output in recent years. However, production declined by 16.1% in 2020 to 17 868 thousand metric tons. Over the period from 2017 to 2020, overall production decreased by 8.6%, which translates to an average annual decline of 3.0%. The most significant year-over-year increase occurred in 2019, with a rise of 17.2%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(7.1%)	17.2%	(16.1%)	(3.0%)

Source: SHEV.io

In value, 2017-2020, M $ US

In 2020, the value of soybean oil and fractions produced in South America was 13 285 million US dollars, representing a 7.0% decrease compared to the previous year. From 2017 to 2020, the total value of production fell by 11.9%, with a compound annual growth rate of -4.1%. The largest decline was observed in 2018, at 11.5%, while the most notable increase occurred in 2019, with a 7.1% rise.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(11.5%)	7.1%	(7.0%)	(4.1%)

Source: SHEV.io

Exports soybean oil and fractions from South America

Exports in kind, K t

Exports of soybean oil and fractions from South America grew for the second consecutive year in 2020, reaching 7 062 thousand metric tons, a 1.4% increase from 2019. The lowest export volume was recorded in 2018 at 6 250 thousand metric tons, which represented a 12.5% decline from the previous year. In contrast, exports saw a significant uptick in 2019, rising by 11.4%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(12.5%)	11.4%	1.4%	(0.4%)

Source: SHEV.io

From 2017 to 2020, India, Bangladesh, and China were the primary destinations for South America's soybean oil and fractions exports in volume terms. India accounted for 45.9% of total exports, Bangladesh for 11.1%, and China for 6.5%, collectively making up 63.6% of all export flows.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, M $ US

The value of soybean oil and fractions exports from South America increased for the second year in a row in 2020, totaling 5 250 million US dollars, a strong 12.4% rise compared to 2019. However, over the 2017-2020 period, export value decreased by 4.7%, averaging an annual decline of 1.6%. The lowest value was in 2018 at 4 591 million US dollars, which marked a 16.6% drop from the previous year.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(16.6%)	1.7%	12.4%	(1.6%)

Source: SHEV.io

During 2017-2020, India, Bangladesh, and China dominated South America's soybean oil and fractions exports in value terms, together accounting for 62.8% of total export flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports soybean oil and fractions to South America

Imports in kind, K t

In 2020, South America imported 1 317 thousand metric tons of soybean oil and fractions, a 32.8% increase from 2019. Over the 2017-2020 period, imports grew by 25%, with a compound annual growth rate of 7.7%. The lowest import volume was in 2019 at 992 thousand metric tons, reflecting an 18.3% decline from the previous year.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	15.3%	(18.3%)	32.8%	7.7%

Source: SHEV.io

From 2017 to 2020, the United States and Mexico were the leading sources of soybean oil and fractions imports to South America in volume terms, jointly representing 13.2% of total import flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, M $ US

In 2020, South America imported approximately 1 250 million US dollars worth of soybean oil and fractions, a substantial 43.7% increase compared to 2019. Between 2017 and 2020, import value rose by 14.4%, averaging an annual growth rate of 4.6%. The lowest value was recorded in 2019 at 870 million US dollars, which saw a 21.4% decline from the previous year.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	1.2%	(21.4%)	43.7%	4.6%

Source: SHEV.io

During 2017-2020, the United States and Mexico played key roles in South America's soybean oil and fractions imports in value terms, together accounting for 14.2% of total import flows.

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

Source: SHEV.io

World map of product's imports to South America in value, 2017-2020

Source: SHEV.io