Soybean oil, extracted from the seeds of soybean, is one of the most widely consumed cooking oil across the world. The cultivation and production of soybean oil date back to ancient China before 2000 B.C. Soybean oils are usually preferred over other vegetable oil for various health benefits including better heart health, improved immune system, improved growth, and reduced cognitive diseases. Soybean oil manufacturers and suppliers across the world are trying to increase their production volume as its application is extending beyond the food and beverage segment to various industrial applications. The recent procurement report from SpendEdge lists the top soybean oil manufacturers who are influencing the demand for soybean oil and soybean oil prices.
Top 10 Soybean Oil Manufacturers
Amongst all the soybean oil manufacturers, Cargill Inc is one of the largest producers and distributors of soybean oil and other agricultural commodities. The company now operates in 66 countries with around 140,000 employees. The company handles a large majority of grain and meat export in the US. In 2014, Cargill introduced soybean oil made from identity-preserved (IdP), conventionally-bred (non-GM) soybeans, in order to satisfy customers looking for non-GMO products.
Archer Daniels Midland Company (ADM)
Jhon Daniels founded the company in 1902, and later renamed it to Archer-Daniels Linseed Company, after George Archer joined the company. It began crushing soybeans in 1929 and acquired the first soybean processing plant in Europe and South America in 1974.
Bunge Limited is one of the oldest soybean oil manufacturers in the market and has been in the agro-commodity business for almost two centuries now. It also involves in food processing, grain trading, and fertilizer business apart from being an international soybean oil exporter. In 2016, Bunge announced its plan to form a joint venture with Wilmar in Vietnam, as Bunge is the largest producer and Wilmar the major buyer of soybean oil in Vietnam. In 2017, FDA approved Bunge’s petition to claim soybean oil as heart healthy.
DuPont is an American conglomerate founded in 1802 as a gunpowder mill. Dupont, the world’s fourth-largest chemical company, is also amongst the most prominent soybean oil manufacturers. Recently, Performance Food Group and DuPont Pioneer introduced a new-high performance soybean oil in the US markets that are healthier, lasts longer, and does not contain harmful trans-fat.
Wilmar International Limited
Wilmar International Limited is Asia’s leading agribusiness group headquartered in Singapore. It’s a company listed in the Fortune Global 500 with operations ranging from oil palm cultivation, oilseeds crushing, oleochemicals, specialty fats to grains processing and merchandising. Wilmar is highly committed to its R&D activities with a focus on future foods, food texture, food structure, and food safety.
Louis Dreyfus Company (LDC)
LDC is a worldwide soybean oil distributor with exports to more than 40 destinations across the world. The company employs over 21,000 people and generated revenues of about US$50 billion in the year 2016.
Unilever is a company focused on sustainable sourcing of raw materials by working closely with suppliers, farmers, NGOs, and other businesses. Recently, the pledged to source 100% of their soy, sunflower and rapeseed oil from sustainable sources by 2020.
AMAGGI Group is a Brazilian company and amongst one of the largest private soybean oil manufacturers. In the 1980’s, the company acquired land in Mato Grosso, to begin oilseed production and expand business activities.
Being a Brazilian agricultural producer, SLC Agricola focuses its business on soybean, cotton, and corn. The company has devoted 230,126 hectares of land in Brazil for the production of soybean oil.
SunOpta Inc. is a Canadian company focusing on natural, organic, and specialty food products. It also specializes in sourcing, processing, and packaging of organic and natural food products.
SpendEdge’s procurement report on soyabean oil offers a comprehensive overview of top soybean oil manufacturers along with soybean oil supply chain, soybean prices, procurement market intelligence, sourcing strategy, and cost containment strategies in SpendEdge’s upcoming report on the global soybean oil market. If you are looking for some other information, request for a customized market report by getting in touch with our analysts.
To know more about manufacturers in the soybean oil market