Soybean oil is the oil extracted from the seeds of the soybean plant (Glycine max). It is an extremely versatile oil with a very high smoke point of about 450°F (230°C), which causes fat breakdown. It is also a good source of heart-healthy fats like polyunsaturated fatty acids and Omega-3 fatty acids and can be used for a variety of culinary applications, including frying, baking, and roasting.
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It offers many health benefits like improved heart health, brain function, great immunity and stimulating bone health.
Key Details About the 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 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 Soybean oil Price chart, including India Soybean oil price, USA 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 Soybean oil Price Trend:
The Soybean oil demand is rising due to the application of the oil’s chemicals for treating high cholesterol. The oil is a great source of calories and essential fatty acids for people seeking total parenteral nutrition (TPN) therapy. In addition to its consumption, it also works as a mosquito repellent and a nutritional supplement in intravenous feedings. As a fuel, it can help replace diesel, which causes high pollution. Other applications of the oil which boost the market’s expansion include fungicides, paints, resins, eco-friendly pesticides, soaps, cosmetics, plastics, lubricants, food and beverages and biodiesel, which in turn boost sales in the sector.
Key Players:
- Bunge Limited
- The Archer Daniels Midland Company
- Cargill, Incorporated
- Adams Group
- CHS Inc.
- Grain Millers Inc
News & Recent Development
- 7 May 2023- imported soybean oil prices in India fell during last year by 46-57% following the supply chain opening from war-hit Ukraine. But the decline in the oil’s retail and wholesale prices is just 16-17%.
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