Soybean oil futures moved sharply higher on aggressive product spread trade, diverging from weaker soybean and meal prices. Warmer, drier harvest weather is expected to accelerate soybean harvest pace, which could add supply pressure going forward.
India has lowered import tariffs on soybean oil while recording its highest-ever monthly soybean oil import volume, signaling strong demand and reduced landed costs. Argentina, the top supplier, is expanding production and export capacity, reinforcing supply availability. The combined effect of lower trade barriers and robust import demand points to firmer availability and downward price pressure on landed soybean oil in the Indian market.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Soybean Oil | USA | FOB | USD 1,784.97/MT | August 2026 |
| Soybean Oil | Argentina | FOB | USD 1,153.75/MT | August 2026 |
| Soybean Oil | Spain | FOB | USD 1,551.39/MT | August 2026 |
| Soybean Oil | China | FOB | USD 1,289.63/MT | August 2026 |
| Soybean Oil | India | FOB | USD 1,467.40/MT | August 2026 |
| Soybean Oil | USA | FOB | USD 1,806.83/MT | July 2026 |
| Soybean Oil | Argentina | FOB | USD 975.22/MT | July 2026 |
| Soybean Oil | Spain | FOB | USD 1,491.82/MT | July 2026 |
| Soybean Oil | China | FOB | USD 1,268.58/MT | July 2026 |
| Soybean Oil | India | FOB | USD 1,438.63/MT | July 2026 |
Stay updated with the latest Soybean Oil prices, historical data, and tailored regional analysis
Asia
In China, average Soybean Oil prices were around USD 1,268.58/MT (FOB) in July 2026, while India recorded USD 1,438.63/MT FOB. Asian markets faced mixed fundamentals as ample soybean availability and vegetable-oil supplies limited upside pressure, while soybean oil retained support from its role in food processing and edible-oil applications. In China, soybean oil also benefited from substitution against palm oil when relative pricing favoured soy-based formulations. However, weaker large-scale restocking and elevated vegetable-oil availability restricted stronger buying interest. Expectations of Indonesia’s expanded biodiesel mandate provided a medium-term supportive factor for the broader vegetable-oil complex.
Europe
In Spain, monthly average Soybean Oil prices were about USD 1,491.82/MT (FOB) in July 2026. European demand remained influenced by competition from rapeseed and sunflower oil, particularly across food and biodiesel applications. The European Commission projected combined EU production of rapeseed, sunflower and soybean oils at around 16.55 million tonnes for 2026/27, indicating substantial regional vegetable-oil availability. This limited the scope for soybean oil to gain significantly against competing oils. Meanwhile, upcoming EU deforestation-compliance requirements for soy and palm increased the importance of traceability and sourcing costs for imported vegetable oils.
North America
In the USA, prices Soybean Oil averaged approx. USD 1,806.83/MT (FOB) in July 2026. The market strengthened early in Q3’26 as biodiesel and renewable diesel demand pushed soybean oil to a multi-year high, before becoming rangebound as supply expanded. USDA forecast soybean oil use for biofuel production at 17.8 billion pounds in 2026/27, reflecting stronger Renewable Fuel Standard requirements. However, higher soybean crushing and imported feedstocks increased availability and limited the impact of biofuel demand on domestic supply. Argentina, another major export origin, recorded USD 975.22/MT FOB in July, reinforcing the importance of global supply competition.
Analyst Insight
According to Procurement Resource, Soybean Oil markets are likely to remain rangebound, with biofuel demand supporting consumption while ample feedstock availability and competing vegetable oils constrain further gains.
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Asia
In China, monthly average Soybean Oil prices were ~RMB 8.64/kg in the first two months of Q2’26. In India, monthly average Soybean Oil prices were ~INR 146.83/kg in April and ~INR 147.72/kg in May, showing a marginal increase. China’s market stayed under pressure as high soybean crushing increased domestic soybean oil supply faster than demand. Commercial soybean oil stocks rose from 880,000 tons in late May to about 1.2 MMT by mid-June, reducing buying urgency. Food processing and catering demand also remained slow, keeping end-users focused on immediate needs. India stayed slightly firmer as import dependence and steady edible oil consumption supported prices, but the wider Asian tone was capped by China’s inventory build and ample soybean arrivals.
Europe
In Spain, Soybean Oil prices were ~EUR 1.51/kg in April and ~EUR 1.33/kg in the subsequent month, showing a ~12.3% decrease. The decline was mainly driven by weaker industrial use and reduced biofuel pull. European soybean oil demand faced pressure as biofuel producers shifted toward alternative oils, waste oils, and residue-based feedstocks. Policy-related costs also made soybean-based biofuel less attractive, adding pressure on demand. With more soybean oil moving toward external markets instead of being absorbed locally, Spanish prices corrected sharply during Q2.
North America
In the United States, Soybean Oil prices were ~USD 1,624.00/MT in April and ~USD 1,775.00/MT in the following month, showing a ~9.3% increase. The rise was driven by firm domestic absorption and tighter nearby supply. Biofuel demand remained the strongest support, with soybean oil use for biofuels above 1.2 billion lb in April. At the same time, May crush slowed during maintenance, and soybean oil inventories fell 12.0% from April to the lowest level in five months. Weak export sales limited the upside, but domestic biofuel demand kept the market firm.
Soybean or better known as the soya bean is a species of legume native to East Asia. It is extensively grown for its edible bean, that comes with several benefits. The conventional unfermented food uses of soybeans include soy milk, from which tofu and tofu skin are prepared or can be produced or prepared. Fermented soy foods include soy sauce, fermented bean paste, natto, and tempeh.
Vegetable oil, Biodiesel, Condiment for salads, Printing ink and oil paint formulations, Fixative
Bunge Limited, The Archer Daniels Midland Company, Cargill, Incorporated, Adams Group, CHS Inc., Grain Millers Inc
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In this process, first soybeans undergo cracking process and then heated at a temperature ranging between 60-88oC or 140-190 °F. These are further rolled into flakes and solvent-extracted with hexanes. The oil obtained is finally refined and blended for distinct applications, and often hydrogenated.
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This report provides the cost structure of xanthan gum production by the fermentation method. In this process, a well-aerated medium containing carbohydrate, a nitrogen source, dipotassium phosphate, and other trace elements is inoculated with Xanthomonas campestris.
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