China exported a record amount of soybean oil in October

China exported a record 70,877 tonnes of soybean oil in October, with most of it going to India, an industry survey showed. China’s soybean surplus was fueled by heavy imports from South America and the US, while domestic demand for the oil fell due to a slowing economy. As a result, processors were left with a surplus that the domestic market could not absorb, leading to record shipments to India, the world’s largest consumer of soybean oil.

In the first ten months of 2025, Chinese soybean oil exports reached 329,000 tonnes, almost three times the level for the whole of last year. The resumption of soybean purchases from the US after a temporary trade truce and improved trade relations with India are only reinforcing this trend. Trade between China and India in this direction is expected to continue to grow.

For India, such imports are economically and logistically beneficial. As Ashish Acharya, vice president of Patanjali Foods Ltd, noted, Chinese soybean oil is of South American quality, but is $10-$15 per tonne cheaper. In addition, delivery to India’s east coast takes just 10-12 days, which is much faster than the 50-60 days from Brazil or Argentina. In November, about 70,000 tonnes of oil from China already reached India, and volumes could increase by another 12,000 tonnes.

China produces about 20 million tonnes of soybean oil each year, and previously almost all of the production was used domestically. But with fewer restaurants and a slowing economy, consumption has fallen, and commercial stocks have exceeded 1 million tonnes — a seven-year high for mid-November, according to Mysteel.

With refineries still operating at high capacity and domestic demand unlikely to recover quickly, India will continue to receive more and more Chinese soybean oil in the coming months, making China a key supplier to the Indian market.

Tags: India, China, soybean oil