India's edible oil imports, including soybean oil, are forecast to surge to 1.5 million tons monthly from July to October. This sharp increase, driven by festival season demand and depleted domestic supplies, is expected to reduce inventories in key exporting nations and provide firming support for global soy oil prices.
Global crude oil prices rallied to a five-week high on escalating Middle East supply risks, which is a key cost driver for energy-intensive refining. Higher energy costs can increase the production expense for refined soybean oil.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Refined Soybean Oil | China | FOB | USD 1,330.75/MT | June 2026 |
| Refined Soybean Oil | Saudi Arabia | CIF | USD 1,521.12/MT | June 2026 |
| Refined Soybean Oil | Russia | CIF | USD 1,467.58/MT | June 2026 |
| Refined Soybean Oil | USA | CIF | USD 1,441.79/MT | June 2026 |
| Refined Soybean Oil | Canada | FOB | USD 1,530.60/MT | June 2026 |
| Refined Soybean Oil | China | FOB | USD 1,332.08/MT | May 2026 |
| Refined Soybean Oil | Saudi Arabia | CIF | USD 1,522.64/MT | May 2026 |
| Refined Soybean Oil | Russia | CIF | USD 1,469.04/MT | May 2026 |
| Refined Soybean Oil | USA | CIF | USD 1,443.23/MT | May 2026 |
| Refined Soybean Oil | Canada | FOB | USD 1,532.13/MT | May 2026 |
Stay updated with the latest refined soybean oil prices, historical data, and tailored regional analysis
Refined soybean oil prices in China increased to ~USD 1,309.82/MT in April and ~USD 1,331.00/MT in June, showing a ~1.6% increase. In Russia, prices increased to ~USD 1,437.42/MT in April and ~USD 1,468.00/MT in June, showing a ~2.1% increase. Asian markets received early support from tighter soybean oil availability and lower inventories, which strengthened seller positions. However, conditions weakened later as soybean crushing increased and inventories rebuilt. The broader vegetable-oil supply outlook also limited gains, with Argentina’s 2025/26 sunflower seed production forecast at 7.0 million metric tons and sunflower oil exports projected at 1.8 million metric tons, according to the USDA Oilseeds report released in April. Increased competing oil availability reduced dependence on soybean oil and pressured price momentum. Global oilseed supply expectations also became more comfortable, with 2026/27 global oilseed production forecast at 718 million metric tons, according to the USDA Oilseeds report released in May. Overall, the refined soybean oil prices witnessed minimal fluctuations in the second quarter of 2026.
Analyst Insight
According to Procurement Resource, refined soybean oil prices are expected to remain balanced as supply availability improves, while demand from food and biofuel sectors continues to influence market direction.
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Refined soybean oil in Q1’26 showed a stable-to-slightly firm trend in Asia, particularly India, where prices moved within a narrow band due to balanced fundamentals. Market sentiment was influenced by trade policy developments, as India’s agreement to allow duty-free imports of U.S. soybean oil raised concerns over increased inflows and pressured domestic oilseed sentiment. According to USDA data, India’s soybean oil production stands at ~1.7 MMT against consumption of ~6.4 MMT, highlighting strong import dependence and sensitivity to global trade flows. While the quarter remained largely stable, geopolitical tensions in the Middle East disrupted key shipping routes, raising freight and insurance costs and delaying cargo arrivals, which tightened short-term availability and provided mild support. Demand from the food sector remained consistent, preventing volatility despite supply-side concerns.
With a high content of polyunsaturated fatty acids, Refined Soybean Oil is a natural refined vegetable oil. 7% linolenic acid, 51% linoleic acid and 23% oleic acid are the major unsaturated fatty acids in Refined Soybean Oil. It has a minimal colour level and is an odourless vegetable oil.
Refined Soy OilRefined Soya Oil
Food and Beverages
Cargill, Incorporated, Wilmar International, MWC Oil, CHS Inc, Archer Daniels and Midland Company
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
In order to produce Refined Soybean Oil, the soybeans have to be cracked and adjusted for moisture content. The content is heated between 60 and 88°C, rolled into flakes and solvent is extracted with hexanes. The oil is refined afterwards, clarified by filtration, and blended for different applications, sometimes is even hydrogenated.
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