Oils & Fats International (27/01/2026) - China is expected to maintain its status as a net exporter of soyabean oil for the second consecutive year, according to a report by the US Department of Agriculture (USDA).

The country’s ongoing status was driven by record export volumes in the months prior to the January report.

Most of China’s record soyabean oil exports were shipped to India in the form of crude soyabean oil, due to India’s tariffs on refined oil. Additionally, substantial volumes of refined soyabean oil were exported to South Korea.

However, a decline in soyabean oil imports for the world’s largest vegetable oil consumer was a more notable shift, the USDA’s Foreign Agricultural Service (FAS) report said.

As recently as 2012/13, China has been the world’s largest importer of soyabean oil.

During that period of high imports, China had also emerged as the leading global soyabean oil producer, due to significant investments in crushing capacity to meet growing demand for protein meal and vegetable oil, the USDA said.

China saw significant growth in consumption of vegetable oil at that time due to income growth and rapid economic development.

“China’s vegetable oil consumption is expected to grow at a slower rate this year, with the slight increase in consumption supplied by an ample increase in crush,” the USDA said.

According to the USDA, factors contributing to weaker soyabean oil demand include reduced consumer demand and demographic trends such as an ageing and declining population.

“This development is leading to domestic production of soyabean oil outpacing consumption needs, bolstering exports,” the report said.

Globally, the USDA raised its 2025/26 oilseeds production forecast due to Brazilian and US soyabean and Argentine sunflowerseed production more than offsetting lower rapeseed and sunflowerseed output in Russia.

Despite higher Brazil soyabean exports, the forecast for worldwide oilseeds trade was reduced due to lower US soyabean and Russian rapeseed exports.

Global crushing was up due to higher Brazil and US soyabean and Argentine sunflowerseed crushing more than offsetting lower Russia sunflowerseed and European Union (EU) soyabean crushing.

Worldwide oilseeds stocks increased due to higher US and Brazil soyabean carryout.

The outlook for global protein meal trade was increased due to higher Brazil and US soyabean meal and Argentina sunflowerseed meal more than offsetting reduced Russia sunflowerseed meal exports.

The global vegetable oil trade forecast was raised due to China and US soyabean oil and Tunisian olive oil exports outweighing lower Russian sunflowerseed oil and Indonesian palm oil exports.

“Vegetable oil stocks are up as losses in palm and sunflowerseed oil carryout were more than offset by gains in soyabean and olive oil carryout,” the report said.

Read more at https://www.ofimagazine.com/news/china-expected-to-be-net-exporter-of-soyabean-oil-for-second-consecutive-year