Canada Emerges as a Major Importer of Soybean Oil

25-Mar-2026 12:50 PM

Saskatoon. Although Canada is a leading global producer and exporter of canola and its products—and also boasts an annual soybean production of 6.5 to 7 million tonnes—the vast majority of this output is exported.

Consequently, a negligible stock of soybean oil remains available domestically for the production of biofuels. As a result, to meet the growing demands of its industry, the country is compelled to import soybean oil from abroad.

According to a report by the U.S. Department of Agriculture (USDA), soybean oil imports into Canada have surged so rapidly in recent years that the country has now emerged as the world's second-largest importer of the commodity.

In the 2024–25 season, Canada imported just over 600,000 tonnes of soybean oil, a figure projected to rise to 800,000 tonnes in the 2025–26 season. As recently as five years ago, the country was importing virtually no soybean oil.

The recent establishment of new renewable diesel production plants, coupled with a trade agreement forged with Argentina, has driven a rapid increase in both the utilization and importation of soybean oil. This upward trend is expected to continue in the future.