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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 analysis, including India Soybean oil price, USA Soybean oil price, pricing database, and chart 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.
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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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Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.
We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence, providing you with the latest and consistent data.
To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients, with up-to-date and pioneering practices in the industry, to understand procurement methods, supply chain, and industry trends, so that they can build strategies to achieve maximum growth.
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