Brazil soybean oil exports remain strong as crush expands

Brazilian soybean oil exports remained strong heading into September as increased soybean processing continued to expand domestic oil production, according to data from Brazil's Foreign Trade Secretariat and the Brazilian Association of Vegetable Oil Industries.

Preliminary data from the Foreign Trade Secretariat, or Secex, under the Ministry of Development, Industry, Trade and Services, showed exports of soft vegetable fats and oils, a category that includes soybean oil, totaling 291,000 metric tons during the first 18 working days of September, out of 21 working days in the month.

The average shipment pace for the broader category reached about 16,167 mt/day, up 33% from the previous week's cumulative pace and 278% year over year. At that pace, September shipments would reach approximately 339,500 mt, according to calculations based on Secex data.

The preliminary Secex category includes vegetable oils other than soybean oil. Detailed September soybean oil volumes will become available through the Brazilian government's Comex Stat database following the release of consolidated monthly trade data.

Brazil exported about 1.57 million mt of soybean oil during January-August, according to Secex/Comex Stat data, already exceeding the 1.363 million mt shipped during all of 2025.

The increase in exports has coincided with stronger domestic soybean processing.

The Brazilian Association of Vegetable Oil Industries, or ABIove, reported soybean crush at 33.6 million mt during January-July, up 8.3% year over year on an adjusted basis. July processing totaled 5.13 million mt, up 7.4% from a year earlier.

ABIove on Sept. 18 raised its 2026 soybean crush projection to a record 63.5 million mt from 63.3 million mt previously. The association also increased its soybean oil production projection to 12.8 million mt from 12.75 million mt.

The association raised its 2026 soybean oil export projection by 5.9% to 1.8 million mt from 1.7 million mt, citing strong domestic processing and a firm international soybean oil market.

With approximately 1.57 million mt already shipped through August, Brazilian soybean oil exports were about 230,000 mt below ABIove's full-year projection before September volumes were included.

Platts, part of S&P Global Energy, assessed Brazilian soybean oil FOB Paranaguá for November loading at $1,235.47/mt Sept. 25.