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2023
Exports $2.6BWorld Rnk 2 / 137
Flag Rnk 24 / 1207
2023
Destination $62.5M India
2022 - 2023
FASTEST GROWING MARKET $62.5MEgypt
2023
PRODUCT COMPLEXITY IN Soybean Oil-0.85Rnk 795 / 1025
2023
Imports $23MWorld Rnk 60 / 212
Flag Rnk 607 / 1200
2023
Origin $8.89M Paraguay
2022 - 2023
FASTEST GROWING ORIGIN $8.89MArgentina
2023
ECONOMIC COMPLEXITY of Brazil0.31Rnk 49 / 132

About

Exports In 2023, Brazil exported $2.6B in Soybean Oil, making it the 2nd largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 24th most exported product in Brazil. The main destination of Soybean Oil exports from Brazil are: India ($1.38B), Bangladesh ($293M), China ($245M), Venezuela ($146M), and Algeria ($139M).

The fastest growing export markets for Soybean Oil of Brazil between 2022 and 2023 were Egypt ($62.5M), Pakistan ($53.7M), and Peru ($28.5M).

Imports In 2023, Brazil imported $23M in Soybean Oil, becoming the 60th largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 607th most imported product in Brazil. Brazil imports Soybean Oil primarily from: Paraguay ($10.5M), Argentina ($9.03M), Bolivia ($2.93M), Germany ($300k), and Netherlands ($138k).

The fastest growing import markets in Soybean Oil for Brazil between 2022 and 2023 were Argentina ($8.89M), Bolivia ($156k), and Germany ($103k).

COMPANIES In 2024, leading companies such as Amazon Produce Network (1) were at the forefront of shipping Soybean Oil from Brazil to the United States.

Latest Trends

December 2024

About

Overview In December 2024 Brazil's Soybean Oil exports accounted up to $116M and imports accounted up to $5.63M, resulting in a positive trade balance of $110M. Between December 2023 and December 2024 the exports of Brazil's   Soybean Oil have increased by $15.5M (15.5%) from $100M to $116M, while imports increased by $2.26M (66.9%) from $3.38M to $5.63M.

Destinations In December 2024, Soybean Oil were exported mostly to India ($78M), Algeria ($17.4M), Bangladesh ($10.1M), Nigeria ($2.85M), and Venezuela ($2.8M), and were imported mostly from Paraguay ($4.55M), Bolivia ($743k), Uruguay ($202k), Argentina ($96.1k), and Germany ($40.5k).

Growth In December 2024, the increase in Soybean Oil's year-by-year exports was explained primarily by an increase in exports to Algeria ($1.37M or 9.46%), Panama ($83.3k or 114%), and Antigua and Barbuda ($64.3k or 8.22k%). In December 2024, the increase in Soybean Oil's year-by-year imports was explained primarily by an increase in imports from Paraguay ($5.04M or 248%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$15.5M(15.5%)
IMPORT GROWTH (December 2023 - December 2024)$2.26M(66.9%)
MAIN EXPORTER (December 2024)Paraná$63M
MAIN DESTINATION (December 2024)India$78M

This section shows Soybean Oil's exports and imports data at subnational level for Brazil. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Soybean Oil over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$2.6B
IMPORTS (2023)$23M
NET TRADE (2023)$2.58B

In 2023, Brazil exported $2.6B in Soybean Oil. The main destinations of Brazil exports on Soybean Oil were India ($1.38B), Bangladesh ($293M), China ($245M), Venezuela ($146M), and Algeria ($139M).

In 2023, Brazil imported $23M in Soybean Oil, mainly from Paraguay ($10.5M), Argentina ($9.03M), Bolivia ($2.93M), Germany ($300k), and Netherlands ($138k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Soybean Oil EXPORT MARKETS FOR Brazil WERE (2022 - 2023):
Egypt$62.5M (1%)
Pakistan$53.7M (503%)
Peru$28.5M (90.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Oil BY Brazil WERE (2022 - 2023):
India-$931M (-40.3%)
Iran-$193M (-100%)
Bangladesh-$100M (-25.5%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Brazil's main exporting competitors in Soybean Oil were:
Argentina $4.39B
Netherlands $608M
In 2023, Brazil's main importing competitors in Soybean Oil were:
India $3.59B
China $772M
Bangladesh $694M

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Trade Value of Soybean Oil by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $49.3M
TOP IMPORT POTENTIALBolivia+ $2.98M

Soybean Oil’s highest export potential is China. With an export gap of $49.3M.   Soybean Oil’s highest import potential is Bolivia with an import gap of $2.98M.

See methodology.

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