Global soybean oil production to rise to 71 mln tons

Global soybean oil production could reach 71 mln tons in the 2025/26 season, according to Oil World. This would be 2.5 mln tons above the previous season, while the forecast has been raised by 360 thsd tons from the previous estimate. Growth is being supported by stronger soybean processing in key producing countries.

The largest production increases are expected in the US and Brazil, at around 0.7–0.8 mln tons each. China is forecast to raise output by at least 0.6 mln tons. Production is also increasing in Pakistan, Egypt and Vietnam, supported by higher soybean imports and expanding crush volumes.

Meanwhile, US domestic soybean oil consumption is rising rapidly. Demand reached 4.9 mln tons in April-July 2026, up 0.8 mln tons from the same period a year earlier. Production failed to keep pace with consumption growth, resulting in a 25% decline in US soybean oil stocks over the period.

Global trade also remains strong. Oil World raised its forecast for soybean oil exports to 15.9 mln tons, only slightly below the previous season’s record of 16.1 mln tons. Argentina, Brazil and China are driving the increase in shipments, while global exports since April have already exceeded year-ago levels.

India remains the world’s largest importer and is expected to purchase around 5.4 mln tons of soybean oil this season, close to the record 5.47 mln tons imported in 2024/25. India’s share of global imports is projected at around 35%, maintaining its position as the key buyer in the global soybean oil market.

Tags: soybean oil, Brazil, India, USA, Argentina