Page 35 - MEX-Yearbook-2017

It has high smoking point
at which the oil smokes and

provides a burnt smell to
food being cooked.

between 20 and 30°C. Fundamentally, anything that affects the
production of soybean will affect the price of soybean oil.
• Soybean oil is used in a number of food processing industries. As usual,
the more these industries prosper, the higher the chances that they will
demand more of soybean oil, which might bring about an increase in
soybean oil prices.

Major Producers of Soybean Oil in 2016

Fundamental Facts (1000 Metric Ton)
• Soybean oil has normally a shelf life of 1 year but it’s better to store
Country Quantity Country Quantity
soybean oil for only a few months at room temperature.
• Soybean oil was among the top three oils ranked ‘very healthy’ by China 15,587 India 1,661

consumers, according to University of Stellenbosch Business School USA 10,033 Mexico 766
(USB)’s 2011 Consumer Attitudes about Nutrition Survey.
• Argentina and Brazil are the leading players in the international Argentina 8,440 Russia 735
soybean oil market.
• Fuel is one of the factors of soybean oil production. Thus, fuel prices Brazil 7,680 Paraguay 800
are likely to affect the price of the commodity. In past 10 years, the
increased global biodiesel production capacity has increased the European Union 2,527 Bolivia 490
consumption of soybean oil in Europe.
• China is the world’s largest and India is the second largest importer Source: U.S. Department of Agriculture
of soybean oil. In general, as the demand for soybean in China grows,
chances are soybean oil prices will follow suit. Soybean Oil
• The availability of other cooking oils also does affect the price of
soybean oil. The more the other cooking oils become available, the 200 January
greater the reduction in the reliance on soybean oil as cooking oil. February
• US export data of soybean oil is an important factor that affects its L
price. March
• Soybean cultivation requires summer, with temperature ranging 150 April
May
O June
July
100 August
September
T October
November
50 December

S

0

Months (January 2017 - December 2017)

MEX NEPAL YEAR BOOK 2017 | 34