Soybean oil is one of the most produced in the world.
It has a beneficial effect on the functioning of the brain, as well as the heart and blood vessels. Regular consumption of this product helps to reduce the risk of heart attack and arthritis. In addition, this product has a beneficial effect on the condition of the skin and the treatment of dermatological diseases. It is not surprising that the global production of this product is gaining momentum every year, because, unlike sunflower oil, first cold-pressed soybean oil more saturates food with useful substances, and therefore it is often advised to use it for a healthy diet.
Rating of soybean oil producers in the EU
The EU countries are one of the main consumers of crude unrefined soybean oil. The thing is that their own production in these countries is rather small, and therefore there is an urgent need to import products.
By the way, the EU countries are not even included in the top five manufacturers of this product. China ranks first in the production of soybean oil (27%), second – the United States (20%), third Argentina (9%), fourth – Brazil, and fifth – India.
As for specifically European countries, there are such large companies that are engaged in the production of soybean oil: Bunge Limited, The Archer Daniels Midland Company, Cargill, Incorporated, Ag Processing Inc A Cooperative, CHS Inc.
Basically, this product is imported to the EU countries, and imports from Ukraine have grown significantly in recent years. In particular, Ukraine currently ranks ninth in the rating of soybean oil suppliers. At the same time, the main consumer of the local product is just the EU countries. So, according to statistics, 344 thousand tons of soybean oil were sent to Europe in 2018/2019. In the future, experts predict growth in this market due to an increase in the consumption of the product, as well as a decrease in its production in one of the main countries – China. Due to this, other states, whose producers supply the product to foreign markets, can benefit, since with growing demand there is a need to increase the area under crops.
Demand for soybean oil in Europe
According to Oil World, from 2020 the consumption of soybean oil will be as much as 58.1 million tons, which is 2 million tons more than in 2019. More than 350 million tons of this product are imported into the EU every year, which indicates its popularity.
In order to supply a product to Europe, manufacturers need to consider local specifics and paperwork requirements. In particular, manufacturers need to know if they should pay customs duties and provide documents on product quality at the border. You can get acquainted with all the requirements for the supply of soybean oil on the official website of the Customs Union, which contains recommendations for manufacturers and suppliers.
Soybean oil is excellent for both food and beauty treatments, and is one of the main components of proper nutrition.