Key Market Indicators
Russian consumption of soybean oil is expected to reach 99.6 thousand metric tons by 2026, from 99 thousand metric tons in 2021, a growth rate of just 0.1% annually. This rate has remained stable since 2017. In 2021, Russia came in 25th place in this ranking, while Argentina was ahead with 99 thousand metric tons. China, India and Brazil were ranked second, third and fourth respectively. Meanwhile, Russian soybean oil production is forecast to reach 1.04 million metric tons by 2026, from 852,820 metric tons in 2021, a CAGR of 3.4%. Since 1997, supply has grown 5.9% year on year. In 2021, Russia was the eighth largest producer, while Paraguay was ranked first with 852,820 metric tons. The United States, Brazil and Argentina were second, third and fourth respectively.
