Canada becomes major soybean oil importer

Canada is quickly becoming one of the world’s largest importers of soybean oil. According to the USDA, imports are expected to reach around 800,000 tonnes in the 2025/26 marketing year, up significantly from just over 600,000 tonnes a year earlier and from nearly zero five years ago.

The surge is primarily driven by the rapid expansion of renewable diesel production, particularly in Newfoundland and Labrador. The shift began in 2023 when the first shipments of soybean oil from Argentina arrived to supply a newly converted refinery.

Braya Renewable Fuels launched commercial operations at its Come by Chance facility in 2024. The former idle petroleum refinery now produces about 18,000 barrels of renewable diesel per day, significantly boosting demand for feedstocks such as soybean oil.

Despite having domestic production, Canadian processors rely on imports as locally produced soybean oil is already fully committed. In addition, Argentine soybean oil is certified as a low-carbon feedstock and is competitively priced, making it an attractive option for biofuel producers.

Shipments from Argentina are expected to continue rising in 2026, supported by port loading data. At the same time, the sector faces economic challenges, including changes in U.S. tax policy affecting renewable diesel exports. However, renewed demand from the California fuel market is helping sustain operations and further drive feedstock imports.

Tags: soybean oil, Canada, biofuel