Soybean oil, a type of edible oil characterized by its generally pale yellow hue, is a flammable liquid that dissolves in carbon disulfide, chloroform, ether, and alcohol but remains insoluble in water. Extracted from the seeds of the soy plant Glycine max Merr through a refining process, the oil can be refined to contain over 99% triglycerides.

The chemical and physical attributes of Soybean oil can vary based on the concentration of triglycerides and linoleic acid present. Odorless with a mild taste, the oil solidifies within the temperature range of -10 to 16 °C and exhibits stability in the presence of atmospheric oxygen. However, it undergoes reactions with catalysts like copper and iron during oxidation, introducing an undesirable taste. Thus, proper storage in an airtight, light-resistant container at temperatures above 25°C is recommended. Its primary applications span the food, culinary, and pharmaceutical industries.

Refined Soybean Oil is prominently imported by key countries such as the Netherlands, France, and Germany. Conversely, notable exporters of this oil include the Netherlands, Germany, and France.

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Key Details About the Refined Soybean Oil Price Trend:

Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Refined Soybean Oil price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.

Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.

The Refined Soybean Oil Prices, including India Refined Soybean Oil price, USA Refined Soybean Oil price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.

Industrial Uses Impacting Refined Soybean Oil Price Trend:

Refined Soybean Oil finds extensive applications in the culinary realm, serving as a popular choice for frying, salad dressings, and as a foundational ingredient in margarine and shortenings. Beyond its role in cooking and food manufacturing, soybean oil plays a crucial role in various industrial sectors such as furnishings and agriculture. In these domains, it contributes to the production of glues, plywood adhesives, resins, laminates, and more. Additionally, the oil is a key component in the formulation of insecticides and pesticides utilized in agricultural settings.

As a widely consumed edible oil, Refined Soybean Oil holds the distinction of being the second most commonly used vegetable oil, following palm oil. It is prominently featured in the production of commercially processed foods. Whether partially or fully refined, this versatile oil, with potential applications as a drying oil, also finds utility in the creation of printing inks and paints.

Key Players:

  • Cargill
  • Incorporated
  • Wilmar International
  • MWC Oil
  • CHS Inc
  • Archer Daniels and Midland Company

News & Recent Development

  • Date: June 15, 2023- The government has announced a reduction in the import duty, which drops from 17.5% to 12.5% on products, specifically refined sunflower and Soybean oil. The following will be effective from Thursday.

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