Vegetable oils: soya-bean oil and its fractions, other than crude, whether or not refined, but not chemically modified

In 2024, vegetable oils: soya-bean oil and its fractions, other than crude, whether or not refined, but not chemically modified trade exhibited strong growth, with global flows reaching $3,292,438,642 and a three-year compound annual growth rate of -0.2% (five-year: +15.7%). The all-time peak of $3,691,781,331 was recorded in 2022; the current level is 11% below that high-water mark.

Over the 30-year observation window (1995–2024), 59% of years recorded positive growth, indicating a mildly upward trajectory with periodic contractions. Trend momentum is decelerating (-7.1% acceleration).

The World Trade Flows Characterization classifies vegetable oils: soya-bean oil and its fractions, other than crude, whether or not refined, but not chemically modified as "One-way trade" in the medium price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is diversified (Herfindahl-Hirschman Index 0.131). The three largest exporters — Argentina ($1.1B), Netherlands ($272.9M), and United States ($236.8M) — collectively dominate supply flows. The leading exporter has grown at +55.1% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.071). The three largest import markets are Canada ($739.4M), United States ($222.1M), and Chile ($198.3M). The largest importing market sources from 26 different supplying countries.

Estimated substitution elasticity: -8.65. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is Argentina → Canada at $657.5M, representing 88.9% of the importer's total demand.

The volatility score for vegetable oils: soya-bean oil and its fractions, other than crude, whether or not refined, but not chemically modified is 7 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, strong demand tailwinds create a favourable entry environment. The diversified supply landscape means many competitors but also multiple entry points and buyer relationships to target.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.