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In September 2026, soybean oil exports from Argentina and Brazil reached approximately 920,000 tons, marking a substantial increase of 200,000 tons compared to the same period in the previous year. According to data from Oil World, these actual shipments significantly outperformed initial forecasts by market analysts.
Brazil emerged as the primary driver of this growth, with its export volumes more than tripling from 64,000 tons to 206,000 tons year-on-year. Meanwhile, Argentina, the region's largest exporter, saw its shipments rise from 650,000 tons to 710,000 tons. India continues to dominate as the primary destination for South American soybean oil by a significant margin.
In contrast, the United States witnessed a decline in its soybean oil exports, which fell to 10,000 tons in September 2026, down from 18,000 tons in September 2025. This divergence positioned Argentina and Brazil as the main catalysts for global export growth, while the U.S. maintained a minimal presence in the international market.
During the July-September quarter, the trio of major exporters — Argentina, Brazil, and the U.S. — collectively shipped a record 2.77 million tons of soybean oil. India and Nepal were the standout buyers, together accounting for 58% of this total volume (1.6 million tons), compared to a 48% share (1.18 million tons) during the same period a year earlier.
Looking ahead, analysts anticipate a seasonal downturn in South American exports during the October-December window, attributed to reduced soybean crushing activities in Argentina and Brazil. However, volumes are still expected to stay above last year's benchmarks, reinforcing the region's pivotal role in the global edible oil trade.
Source: UkrAgroConsult