Crude soybean oil trade by country: top importers, exporters and prices
World trade in crude soybean oil was worth $10.31 billion in 2024, about 10.83 million tonnes. That is an increase of 22% since 2017, and down 2% on 2023.
Public statistics, latest complete year (2024). Values in US dollars. Page updated .
World trade by year, 2017-2024
Hover or tap a year for detail.
Year by year
| Year | Value | Quantity |
|---|---|---|
| 2024 | $10.31B | 10.83M t |
| 2023 | $10.54B | 9.89M t |
| 2022 | $16.92B | 11.36M t |
| 2021 | $14.39B | 13.01M t |
| 2020 | $8.74B | 11.91M t |
| 2019 | $7.47B | 11.14M t |
| 2018 | $7.86B | 10.15M t |
| 2017 | $8.42B | 10.48M t |
Top crude soybean oil exporting countries
Argentina is the largest exporter with 49% of world exports, followed by Brazil and Russia. The top three supply 65% between them, out of 101 exporting countries.
| Exporter | Value | Share |
|---|---|---|
| Argentina | $5.05B | 49% |
| Brazil | $1.15B | 11% |
| Russia | $454.7M | 4.4% |
| Paraguay | $408.8M | 4% |
| Turkey | $348.6M | 3.4% |
| Spain | $327.5M | 3.2% |
| Ukraine | $305.0M | 3% |
| Bolivia | $255.8M | 2.5% |
| United States | $247.7M | 2.4% |
| Netherlands | $220.9M | 2.1% |
| Italy | $134.1M | 1.3% |
| Egypt | $129.8M | 1.3% |
Top importing countries and buyer markets
The largest importers are India (41%), China (7%) and Bangladesh (6%). 163 countries imported it, and the top three take 53% of the value.
| Importer | Value | Share |
|---|---|---|
| India | $4.20B | 41% |
| China | $671.1M | 6.5% |
| Bangladesh | $629.8M | 6.1% |
| Algeria | $465.5M | 4.5% |
| Morocco | $461.6M | 4.5% |
| Peru | $292.4M | 2.8% |
| South Korea | $270.7M | 2.6% |
| Colombia | $238.6M | 2.3% |
| Poland | $226.0M | 2.2% |
| Zimbabwe | $215.1M | 2.1% |
| Spain | $185.2M | 1.8% |
| Pakistan | $166.1M | 1.6% |
Average price per kg
The world average declared value was about $0.95 per kg in 2024. Among the main exporters, Russia averaged $0.99 per kg and Ukraine $0.81 per kg, so grade and origin matter.
Declared value divided by weight, all 2024 shipments worldwide. Prices per shipment and per company are in EximDataX.
Related product types
Who is behind these numbers in this market?
Public statistics stop at country totals and the last published year. EximDataX shows the shipment records underneath: the companies, dates, quantities and declared values, updated weekly.
Shipment records are in the platform
Tell us what you trade and we will show you the latest records on a live call.
Source: CEPII BACI (reconciled UN Comtrade data), HS 2017 edition, release 202601, Etalab Open Licence 2.0. Annual values in US dollars at the customs border; quantities in tonnes where reported. HS 1507.10: Vegetable oils: soya-bean oil and its fractions, crude, whether or not degummed, not chemically modified. HS 1507 codes.
Common questions
Which countries export the most crude soybean oil?
Argentina exported $5.05 billion in 2024, 49% of the world total, followed by Brazil (11%) and Russia (4%). In all, 101 countries reported exports of this product. The full ranking and map are on this page.
Which countries import the most crude soybean oil?
India imported $4.20 billion in 2024, 41% of world imports, ahead of China (7%) and Bangladesh (6%). The top three importers together take 53%. Each country with its own page is linked from the table.
How big is the world trade in crude soybean oil?
It was worth $10.31 billion in 2024, about 10.83 million tonnes. That is an increase of 22% since 2017. The peak year was 2022 at $16.92 billion. 101 countries reported exports and 163 reported imports.
What is the average price of crude soybean oil per kg?
The world average declared value was about $0.95 per kg in 2024. Among the main exporters, Russia averaged $0.99 per kg and Ukraine $0.81 per kg, so grade and origin matter. It is total declared value divided by total weight, so treat it as a benchmark, not a quote.
What is the HS code for crude soybean oil?
The HS code for crude soybean oil is subheading 1507.10, in chapter 15 (animal, vegetable or microbial fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes). Customs uses this code worldwide at the six-digit level; national tariffs add more digits. The full list of codes is on the HS 1507 page.
How can I find crude soybean oil buyers and suppliers?
Public statistics stop at country totals. EximDataX shows the importers and exporters behind this trade from shipment-level customs records, updated weekly, with direct customs feeds and mirror data. Tell us your product and we will show you the latest records on a live call.
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