Brazil's soybean oil exports from January to August 2026 reached approximately 1.57 million tons, which is more than the total exports for 2025. The increase in soybean crushing capacity and steady domestic demand from the biodiesel sector are cited as the main factors for this growth.
Forecast for Soybean Oil Exports and Production
The Brazilian Vegetable Oil Industry Association (Abiove) has forecast that soybean oil exports in the calendar year 2026 will reach 1.8 million tons, showing significant growth compared to approximately 1.36 million tons exported in 2025. Additionally, soybean oil production in 2026 is projected to be 12.8 million tons, supported by 63.5 million tons of soybean crushing, representing an 8.2 percent increase from 2025.
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New Conab Review and Soybean Harvest Status
Market forecasts for soybean oil were released alongside a new announcement from the National Supply Company (Conab) on October 15, predicting a record soybean harvest of 181.62 million tons for the 2026-27 crop year. This forecast indicates an increase of 1.21 million tons or 0.7 percent compared to Conab's last estimate for 2025-26.
Conab also projected that the area planted with soybeans will increase to 49.31 million hectares, which is 1.4 percent more than last year. Meanwhile, the average yield is estimated at 3.68 tons per hectare, reflecting a 0.8 percent decrease. This agency also forecasts soybean exports for 2026-27 at 117.97 million tons and soybean meal exports at 27.1 million tons, indicating increases of 1.51 percent and 3.06 percent, respectively.
Domestic demand for biodiesel is recognized as a significant factor supporting soybean demand within the country. The soybean processing industry in Brazil has expanded alongside increased soybean oil production and exports.
According to Abiove's annual survey on processing capacity, Brazil's oilseed processing capacity reached 86.4 million tons this year, a 13.1 percent increase from last year. The number of active plants also rose to 148, compared to 131 plants the previous year.
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