• Which countries export soybean oil from Brazil?
  • The leading destination of Soybean Oil exports from Brazil is India ($776 million), China ($473 million), Bangladesh ($202 million), Venezuela ($189 million), and Iran ($95.8 million). The fastest-growing export markets for Soybean Oil in Brazil between 2020 and 2021 were India ($528 million), China ($340 million), and Venezuela ($95.9 million).
  • What are Brazil’s soybean oil forecasts for 2023?
  • Latest estimates for Brazil¡¯s Soybean Oil sales stood at 2.4 million mt, up from 0.1 million mt in the June forecast. The country¡¯s Soybean production and exports were also projected to hit a new record high in the 2023 campaign.
  • What are Brazil’s soybean sales?
  • Brazil¡¯s Soybean meal sales were pegged at 22 million mt, up from 21.9 million mt in June estimates. This was up 8.05% yearly from 20.36 million mt in 2022. Latest estimates for Brazil¡¯s Soybean Oil sales stood at 2.4 million mt, up from 0.1 million mt in the June forecast.
  • How much does Brazilian soybean oil cost?
  • Platts assessed Brazilian soybean oil FOB Paranagua for August loading at $1,006.19/mt July 20, $24.03/mt higher on the day, S&P Global Commodity Insights data showed, while Brazilian soybean meal FOB Paranagua for September loading was assessed at $485.67/mt July 20, $4.08/mt lower on the day.
  • How did exports of soybean oil & meal derivative change in 2023?
  • Projections for exports of soybean oil and meal derivative in 2023 were also increased from June’s estimates. Sales of Brazil’s soybean meal were pegged at 22 million mt, up from 21.9 million mt in June estimates. This was up 8.05% year on year from 20.36 million mt in 2022.
  • What industries use soy oil?
  • Soy oil is used by the food, pharmaceutical and biodiesel industries. In Brazil, soy oil currently represents over 80% of the total demand for biodiesel production. The rapid growth in demand for soybean explains the continuous increase in planted area in Brazil, up 20% since 2017.