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Soybean oil, a type of edible oil, typically exhibits a pale yellow hue. This flammable liquid dissolves in carbon disulfide, chloroform, ether, and alcohol but remains insoluble in water. Extracted from the seeds of the Glycine max Merr plant through a refining process, the oil can be refined to contain over 99% triglycerides.
The chemical and physical characteristics of Soybean oil can vary based on the levels of triglycerides and linoleic acid present. Odorless with a mild taste, the oil solidifies between -10 to 16 °C and maintains stability in the presence of atmospheric oxygen. However, it reacts unfavorably in the presence of catalysts such as copper and iron, introducing an undesirable taste during the oxidation process. For proper storage, it is recommended to store the oil in an airtight, light-resistant container filled to capacity at a temperature exceeding 25°C. Primarily utilized in the food, culinary, and pharmaceutical industries, Soybean oil serves various purposes.
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The key importing countries that import Refined Soybean Oil are the Netherlands, France, and Germany. On the other hand, the key exporting countries are the Netherlands, Germany, and France.
Key Details About the Refined 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 Refined 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 Refined Soybean Oil Price chart, including India Refined Soybean Oil price, USA Refined 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 Refined Soybean Oil Price Trend:
Refined Soybean Oil finds versatile applications in the culinary realm, serving as a popular choice for frying, salad dressings, and as a foundational ingredient in the creation of margarine and shortenings. Beyond its significance in cooking and food production, soybean oil extends its utility to various industrial domains, including furnishing and agriculture. In these sectors, it contributes to the formulation of adhesives, glues, resins, laminates, and more. Moreover, this oil plays a pivotal role in the synthesis of insecticides and pesticides utilized in agricultural practices.
As a consumable edible oil, Refined Soybean Oil ranks as the second most widely consumed vegetable oil, trailing only behind palm oil. Its incorporation into commercially processed foods is commonplace, where it serves as a key ingredient. Additionally, both partially and fully Refined Soybean Oil, boasting qualities suitable as a drying oil, is employed in the production of printing inks and paints.
Key Players:
- Cargill
- Incorporated
- Wilmar International
- MWC Oil
- CHS Inc
- Archer Daniels and Midland Company
News & Recent Development
- Date: June 15, 2023- The government has announced a reduction in the import duty, which drops from 17.5% to 12.5% on products, specifically refined sunflower and Soybean oil. The following will be effective from Thursday.
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