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RBD Soybean Oil Prices, Demand and Supply Overview
RBD soybean oil is soybean oil that has been refined, bleached and deodorized for food use, and it is the standard traded edible grade for cooking oil, margarine and processed foods. Argentina is the largest exporter of soybean oil, followed by Brazil and the US, while China and the US are the largest crushers and India is the largest importer.
Prices rose sharply in 2026. CBOT soybean oil futures were about USD 1,090 per tonne in early January, reached USD 1,660 on 29 April on biofuel demand and Hormuz-related energy price spikes, and were USD 1,510 on 2 October, about 36 percent above a year earlier. Argentine and Brazilian export prices have converged near USD 1,200 per tonne.
RBD Soybean Oil Prices in October 2026
Argentine FOB soybean oil was USD 1,196 per tonne on 1 October for October shipment on a crude degummed basis, the base for RBD offers, and Brazil's Paranagua FOB was USD 1,227.53 on 15 September. Four drivers apply.
- India duty cut: India cut basic duty on crude soybean and palm oil from 10 to 5 percent on 24 September, with refiners restocking ahead of the festive season.
- Argentine crush: August crush was 4.252 million tonnes, up 8.81 percent and the best August in ten campaigns, and a decree schedules cuts to soybean export taxes from 24 to 15 percent starting in January 2027.
- Brazil crush: Abiove raised its 2026 crush forecast on 19 September to 63.5 million tonnes, with oil production at 12.8 million tonnes and oil exports at 1.8 million tonnes, up 5.9 percent.
- US biofuel policy: The EPA's final 2026-27 Renewable Fuel Standard of 27 March lifts biomass-based diesel volumes more than 60 percent over 2025 and halves the compliance value of imported feedstocks from 2028.
Supplier news: ADM announced in late July upgrades at four US crush plants adding about 700,000 tonnes per year, and Wilmar reported on 12 August first half crushing volume of 14.9 million tonnes, up 6.1 percent, with core net profit of USD 641.5 million, up 9.9 percent. Short term, Indian buying and record Argentine crush pull in different directions; long term, biofuel mandates and export tax cuts shape supply.
RBD Soybean Oil Price Forecast for 2026
Expect steady gains across all four markets through H2 2026 as biodiesel blending demand continues competing with food use for available supply. Argentina should retain its position as the most competitively priced origin given its export-oriented crush industry structure. China's import-driven premium should persist given its position as the largest global consuming market with meaningful import reliance. US and Brazilian biodiesel policy developments remain the key variable to watch, given both countries' growing use of soybean oil as a biofuel feedstock.
Across all 4 regions combined, prices moved 4.3% increase on average between Q1 and Q2 2026. Absent a meaningful change to the cost or demand drivers outlined above, that pace looks set to carry into the second half of the year.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 1,224 - 1,350 | Balance of regional supply and demand conditions |
| United States | 1,259 - 1,389 | Strong biodiesel blending demand competed with food-grade refining for available crude oil |
| Brazil | 1,169 - 1,289 | Firm export demand and growing domestic biodiesel blending requirements supported a steady quarter |
| Argentina | 1,130 - 1,247 | Consistent export volumes to global buyers kept Argentine pricing the most competitive of the four markets even as it rose in step with the group |
| China | 1,337 - 1,474 | Growing domestic demand and import restocking kept Chinese pricing at the top of this group |
For the Quarter Ending June 2026
RBD Soybean Oil Prices Q2 2026:
- United States: USD 1,298/MT
- Brazil: USD 1,205/MT
- Argentina: USD 1,165/MT
- China: USD 1,378/MT
RBD Soybean Oil Prices in United States
United States rose 4.3% to USD 1,298/MT in Q2 2026, strong biodiesel blending demand competed with food-grade refining for available crude oil, ranking it the 2nd most expensive among the 4 markets this report follows.
Why did the price of RBD Soybean Oil change in Q2 2026 in United States?
Strong biodiesel blending demand competed with food-grade refining for available crude oil, supporting a firm increase, working out to United States trading about 2.9% above this quarter's 4-region average.
Measured against United States's own average pace of 1.9% a quarter across the six quarters this report tracks, this move came in faster than that pace.
RBD Soybean Oil Prices in Brazil
USD 1,205/MT. That is where Brazil landed in Q2 2026, up 4.3% from USD 1,155/MT in Q1 2026, placing it the 3rd most expensive across the 4 regions covered in this report.
Why did the price of RBD Soybean Oil change in Q2 2026 in Brazil?
Firm export demand and growing domestic biodiesel blending requirements supported a steady quarter, leaving Brazil running roughly 4.5% below the 4-region average for the quarter.
That is faster than the 1.9% average quarterly move Brazil has posted across the six quarters this report tracks.
RBD Soybean Oil Prices in Argentina
Argentina's price gained 4.2% to USD 1,165/MT, consistent export volumes to global buyers kept Argentine pricing the most competitive of the four markets even as it rose in step with the group, putting it the most affordable of the 4 markets tracked this quarter.
Why did the price of RBD Soybean Oil change in Q2 2026 in Argentina?
Consistent export volumes to global buyers kept Argentine pricing the most competitive of the four markets even as it rose in step with the group, with Argentina now sitting about 7.6% below the 4-region average this quarter.
Argentina has averaged 1.9% a quarter over the six quarters this report tracks; this move came in faster than that longer-run pace.
RBD Soybean Oil Prices in China
In Q2 2026, China priced at USD 1,378/MT, up 4.4% from USD 1,320/MT the previous quarter, making it the priciest of the 4 markets tracked here this quarter.
Why did the price of RBD Soybean Oil change in Q2 2026 in China?
Growing domestic demand and import restocking kept Chinese pricing at the top of this group, which puts China roughly 9.2% above the average across the 4 regions this report tracks.
Set against a 2.0% average quarterly pace over the six quarters this report tracks, China's move this quarter landed faster than that trend.
For the Quarter Ending March 2026
RBD Soybean Oil Prices Q1 2026:
- United States: USD 1,245/MT
- Brazil: USD 1,155/MT
- Argentina: USD 1,118/MT
- China: USD 1,320/MT
RBD Soybean Oil Prices in United States
United States rose 1.3% to USD 1,245/MT in Q1 2026, early-year biodiesel blending demand supported a firm start to 2026, ranking it the 2nd most expensive among the 4 markets this report follows.
Why did the price of RBD Soybean Oil change in Q1 2026 in United States?
Early-year biodiesel blending demand supported a firm start to 2026, working out to United States trading about 2.9% above this quarter's 4-region average.
Measured against United States's own average pace of 1.9% a quarter across the six quarters this report tracks, this move came in slower than that pace.
RBD Soybean Oil Prices in Brazil
USD 1,155/MT. That is where Brazil landed in Q1 2026, up 1.3% from USD 1,140/MT in Q4 2025, placing it the 3rd most expensive across the 4 regions covered in this report.
Why did the price of RBD Soybean Oil change in Q1 2026 in Brazil?
Steady export demand carried prices higher as the new year began, leaving Brazil running roughly 4.5% below the 4-region average for the quarter.
That is slower than the 1.9% average quarterly move Brazil has posted across the six quarters this report tracks.
RBD Soybean Oil Prices in Argentina
Argentina's price gained 1.3% to USD 1,118/MT, consistent export volumes supported a modest early-year gain, putting it the most affordable of the 4 markets tracked this quarter.
Why did the price of RBD Soybean Oil change in Q1 2026 in Argentina?
Consistent export volumes supported a modest early-year gain, with Argentina now sitting about 7.6% below the 4-region average this quarter.
Argentina has averaged 1.9% a quarter over the six quarters this report tracks; this move came in slower than that longer-run pace.
RBD Soybean Oil Prices in China
In Q1 2026, China priced at USD 1,320/MT, up 1.4% from USD 1,302/MT the previous quarter, making it the priciest of the 4 markets tracked here this quarter.
Why did the price of RBD Soybean Oil change in Q1 2026 in China?
Growing domestic consumption supported a firm start to 2026, which puts China roughly 9.1% above the average across the 4 regions this report tracks.
Set against a 2.0% average quarterly pace over the six quarters this report tracks, China's move this quarter landed slower than that trend.
Quarterly RBD Soybean Oil Price Trends
The global average climbed steadily across the window, from USD 1,146/MT in Q1 2025 to USD 1,262 by Q2 2026, a gain of 10.1% over six quarters.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q2 2026 | 1,262 | +4.3% | ↑ Rising |
| Q1 2026 | 1,210 | +1.4% | ↑ Rising |
| Q4 2025 | 1,193 | +1.4% | ↑ Rising |
| Q3 2025 | 1,177 | +1.4% | ↑ Rising |
| Q2 2025 | 1,162 | +1.4% | ↑ Rising |
| Q1 2025 | 1,146 | - | - Stable |
| Q3 2026 | In Progress | - | - In Progress |
What was RBD Soybean Oil Price in 2025?
Looking back at 2025, the global RBD soybean oil average ran from about USD 1,146/MT in Q1 to USD 1,193 by Q4, a 4.1% increase across the year.
RBD Soybean Oil Prices in United States in 2025
United States prices moved from about USD 1,180/MT in Q1 2025 to USD 1,228 by Q4, up roughly 4.1%. United States closed the year ranked 2 of the 4 markets this report tracks.
RBD Soybean Oil Prices in Brazil in 2025
Brazil prices moved from about USD 1,095/MT in Q1 2025 to USD 1,140 by Q4, up roughly 4.1%, leaving Brazil in 3 place among the 4 tracked markets heading into the new year.
RBD Soybean Oil Prices in Argentina in 2025
Argentina prices moved from about USD 1,060/MT in Q1 2025 to USD 1,103 by Q4, up roughly 4.1%. That left Argentina ranked 4 of 4 tracked markets heading into 2026.
RBD Soybean Oil Prices in China in 2025
China prices moved from about USD 1,250/MT in Q1 2025 to USD 1,302 by Q4, up roughly 4.2%, placing China 1 of 4 tracked markets as 2025 closed out.
How We Can Help
Expert Market Research: Your Source for Real-Time RBD Soybean Oil Price Intelligence
We keep a continuous watch on RBD soybean oil prices across every region that produces or consumes it at scale, tracing the raw material and demand drivers back to their source rather than just reporting the number. Our team pulls together crude soybean oil cost trends, regional supply and demand shifts, and policy developments into a single, regularly refreshed view of the market.
We build our forecasts from production capacity, feedstock cost trends, and regional demand data, aiming to give procurement teams something they can actually use in budgeting and supplier negotiations, not just a headline number.
If you need a deeper regional breakdown, a longer historical run than the six quarters shown here, or a sourcing analysis built around your specific procurement footprint, our analysts are available to help.
We track biodiesel-linked and food-grade demand as related but distinct threads within this market, since blending mandate policy changes can shift available food-grade supply independently of the broader crush and harvest cycle.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Frequently Asked Questions About This Report
RBD soybean oil, refined, bleached, and deodorised, is crude soybean oil processed into the stable, neutral-flavoured oil used directly in cooking, salad oil, and food manufacturing, as well as a major feedstock for biodiesel production in several producing countries.
In Q2 2026, it averaged USD 1,298/MT in United States, USD 1,205/MT in Brazil, USD 1,165/MT in Argentina, USD 1,378/MT in China, with China the priciest of the 4 markets tracked in this report.
The global average moved from USD 1,193/MT in Q4 2025 to USD 1,210 in Q1 2026, then to USD 1,262 by Q2, a 5.7% increase across the two quarters.
Strong biodiesel blending demand competed with food-grade refining for available crude oil, and the other regions covered here moved for largely the same underlying reasons, filtered through their own local supply and demand conditions.
Expect steady gains across all four markets through H2 2026 as biodiesel blending demand continues competing with food use for available supply.
China sits at the top given its cost and demand structure, while Argentina trades lowest of the 4 markets tracked here. The gap between them reflects local production costs, import exposure, and demand intensity, and it is worth revisiting each quarter since the ranking can shift as input costs move.
US, Brazilian, and Argentine soybean crush volumes, which together set the global crude soybean oil supply baseline; Biodiesel blending mandates in the US and Brazil, which compete with food use for available supply; Global vegetable oil demand and substitution with palm and other competing oils, along with broader macroeconomic conditions across the 4 regions this report tracks.
RBD soybean oil, refined, bleached, and deodorised, is crude soybean oil processed into the stable, neutral-flavoured oil used directly in cooking, salad oil, and food manufacturing, as well as a major feedstock for biodiesel production in several producing countries.
RBD, or refined, bleached, and deodorised, describes the specific internationally traded processing specification most common in export markets, while a broader Refined Soybean Oil report elsewhere in this pipeline may capture a wider range of refining specifications used across different domestic markets. The two terms often describe substantially similar products, and buyers should confirm the exact specification relevant to their own sourcing.
Monthly, though our analysts flag any material shift in feedstock costs or regional demand as soon as it emerges.
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