Market research

Soybean oil and fractions market in Southern Asia, 2026

$Soybean oil and fractions market in Southern Asia$

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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"Southern Asia" region includes following countries:

Afghanistan

Bangladesh

Bhutan

Sri Lanka

India

Iran

Maldives

Nepal

Pakistan

Earlier Report Observations

Between 2018 and 2020, the soybean oil market in Southern Asia was influenced by agricultural production factors. In 2018, the adoption of improved soybean varieties and better farm management practices supported oilseed cultivation. However, by 2020, excessive rainfall and pest attacks damaged soybean crops in major producing states like Madhya Pradesh and Maharashtra, reducing output and contributing to a decline in market volume to 4.4 million tonnes.

The market expanded sharply to 5.6 million tonnes in 2021, driven by a peak in soybean prices due to a mix of domestic and global factors, including adverse weather. This price surge encouraged higher imports to meet demand. In 2022, sustained high global soybean prices, reaching USD 668.5 per tonne, made imports less attractive, leading to a contraction in market volume to 4.9 million tonnes.

By 2023, global supply constraints for palm oil, caused by heavy rains in Indonesia and Malaysia, pushed palm oil prices above soybean oil prices, altering import patterns. Despite this shift, the overall market volume fell to 3.9 million tonnes. In 2024, the Indian government raised import duties on edible oils, including soybean oil, to boost domestic oilseed demand, resulting in retail price increases. Concurrently, soybean oil imports hit a five-year high early in the marketing year, fueled by high palm oil prices and substitution effects, while the launch of the National Mission on Edible Oils – Oilseeds aimed to enhance long-term domestic production.

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

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 2020, Southern Asia produced 3 280 K t of soybean oil and fractions, showing a slight reduction of 0.7% compared to 2019. Production reached its minimum in 2018 at 2 568 K t, with the largest decline that year of 11.3%. The maximum production was recorded in 2019 at 3 304 K t, marking the largest increase of 28.7%. Between 2017 and 2020, production increased by 13.3%, equating to an annualized growth rate of 4.2%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(11.3%)	28.7%	(0.7%)	4.2%

Source: SHEV.io

In value, 2017-2020, M $ US

Southern Asia's soybean oil and fractions production increased for the second consecutive year. In 2020, output was valued at 3 463 M $ US, up by 4.9% year-over-year. The minimum value was recorded in 2018 at 2 799 M $ US, with the largest decline that year of 12.4%. The largest increase occurred in 2019 at 18.0%. Between 2017 and 2020, production increased by 8.4%, equating to an annualized growth rate of 2.7%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(12.4%)	18.0%	4.9%	2.7%

Source: SHEV.io

Exports soybean oil and fractions from Southern Asia

Exports in kind, K t

There were noticeable fluctuations in market performance during the period. Soybean oil and fractions volumes leaving Southern Asia amounted to 199 K t in 2020, representing a steep rise of 258.5% year-over-year. The largest decline was recorded in 2019 at 11.6%, while the largest increase occurred in 2018 at 1 891.9%. From 2017 to 2020, the span exhibited a peak-to-trough amplitude of 63 times.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	1 891.9%	(11.6%)	258.5%	298.1%

Source: SHEV.io

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, M $ US

There were noticeable fluctuations in market performance during the period. In 2020, exported soybean oil and fractions volumes from Southern Asia totalled 210 M $ US, which is 278.6% more compared to 2019. The largest decline was recorded in 2019 at 19.0%, while the largest increase occurred in 2018 at 1 868.0%. From the low in 2017 to the high in 2020, volumes varied 60 times.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	1 868.0%	(19.0%)	278.6%	292.3%

Source: SHEV.io

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

Source: SHEV.io

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

Source: SHEV.io

Imports soybean oil and fractions to Southern Asia

Imports in kind, K t

Soybean oil and fractions volumes in Southern Asia declined for the third consecutive year. In 2020, Southern Asia imported 1 321 K t of soybean oil and fractions, which is 6.1% less year-over-year. Between 2017 and 2020, imports decreased by 44.2%, equating to an annualized decline rate of 17.7%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(2.4%)	(39.1%)	(6.1%)	(17.7%)

Source: SHEV.io

Over the period 2017–2020, Argentina and Brazil were the dominant destinations for imports in kind of soybean oil and fractions to Southern Asia, jointly accounting for 82.3% of total flows. The remaining volume was split among smaller markets.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, M $ US

After a two-year contraction, Southern Asia's soybean oil and fractions imports increased. In 2020, imports tallied 998 M $ US, which is 2.1% stronger than in 2019. The minimum value was recorded in 2019 at 977 M $ US, with the largest decline that year of 44.9%. Over the period 2017-2020, imports decreased by 49%, with a compound annual growth rate (CAGR) of -20.1%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(9.5%)	(44.9%)	2.1%	(20.1%)

Source: SHEV.io

In the period 2017–2020, Argentina and Brazil together accounted for 81.8% of total imports in value terms. Other countries formed a diversified but less significant portion of the import market.

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

Source: SHEV.io

World map of product's imports to Southern Asia in value, 2017-2020

Source: SHEV.io