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Where does India get its soybean oil? Import sources 2024

In 2024, India imported $4.3 billion of soybean oil (4.5 million tonnes), 32.1% of the world total. Argentina sold 67% of the total, followed by Brazil (17%) and Russia (7%). India was the world’s largest importer of soybean oil.

Summary

Value
$4.3billion
Tonnes
4.5million tonnes
Share of world total
32.1%
World rank
1st
Routes from the main sources. Width: value; color: estimated transport mode.SeaAirLand

Sources

The 20 main sources in the latest year.

PartnerValue (USD billions)TonnesUSD per tonneShareMode
Argentina2.9Tonnes: 3,111,672USD per tonne: $92367.2%Sea
Brazil0.75Tonnes: 787,188USD per tonne: $94917.5%Sea
Russia0.29Tonnes: 282,769USD per tonne: $1,0096.7%Sea
Nepal0.09Tonnes: 65,138USD per tonne: $1,4352.2%Land
Paraguay0.08Tonnes: 100,373USD per tonne: $8322%Sea
Iraq0.06Tonnes: 59,542USD per tonne: $1,0261.4%Sea
Thailand0.04Tonnes: 43,465USD per tonne: $8570.87%Sea
Benin0.02Tonnes: 21,221USD per tonne: $1,0800.54%Sea
Togo0.02Tonnes: 18,430USD per tonne: $9820.42%Sea
Turkey0.01Tonnes: 14,431USD per tonne: $9480.32%Sea
Vietnam0.01Tonnes: 14,014USD per tonne: $9630.32%Sea
Ukraine0.01Tonnes: 8,503USD per tonne: $1,0270.2%Sea
Spain0.01Tonnes: 7,700USD per tonne: $1,0150.18%Sea
United States< 0.01Tonnes: 7,654USD per tonne: $5040.09%Sea
Serbia< 0.01Tonnes: 2,473USD per tonne: $7770.04%Sea
Bangladesh< 0.01Tonnes: 1,272USD per tonne: $1,4690.04%Land
Uruguay< 0.01Tonnes: 1,115USD per tonne: $1,0760.03%Sea
Germany< 0.01Tonnes: 114USD per tonne: $7,2870.02%Sea
Croatia< 0.01Tonnes: 506USD per tonne: $9030.01%Sea
Malaysia< 0.01Tonnes: 45USD per tonne: $1,3090%Sea

Trend

Who it buys from

Argentina was its main source throughout the period

Value in USD billions. The five largest sources in 2024.

  • Argentina 2.9
  • Brazil 0.75
  • Russia 0.29
  • Nepal 0.09
  • Paraguay 0.08

Source: CEPII BACI

Show the numbers
Partner19952024
Argentina0.032.9
Brazil0.020.75
Russia00.29
Nepal00.09
Paraguay00.08

Sources and methodology

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Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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