What is the price of soyabean oil per kilogram/pound in South Korea today?
The retail price range for South Korea soyabean oil is between US$ 8.75 and US$ 11.40 per kilogram or between US$ 3.97 and US$ 5.17 per pound(lb). Click here to see today's exact prices of soyabean oil in South Korea
The retail price range in South Korean won for soyabean oil is between KRW 11,664.93 and KRW 15,203.73 per kilogram or between KRW 5,290.22 and KRW 6,895.12 per pound(lb) in Seoul and Busan.
Wholesale prices
In 2025, the approximate wholesale price range for South Korea soyabean oil is between US$ 6.12 and US$ 7.98 per kilogram or between US$ 2.78 and US$ 3.62 per pound(lb).
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South Korea Soyabean Oil Export Prices - Historical, Trends and Prediction
The export price per kilogram of Soyabean oil from South Korea over the last five years has been quite varied. In 2017, the price was 0.95 US $ per kg, which was the lowest in the five year period. This was followed by a slight increase in 2018 to 1.51 US $ per kg. The price then remained steady at 1.51 US $ per kg in 2019 and 2020. In 2021, the price rose to 1.90 US $ per kg and then further increased to 2.35 US $ per kg in 2022. Based on this trend, it is predicted that the export price per kilogram of Soyabean oil from South Korea in 2023 will be around 2.68 US $ per kg and in 2024 it will be around 3.02 US $ per kg.The soyabean oil exports from South Korea are classified as:
- Soya-bean oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 150790)
- Crude soya-bean oil, whether or not degummed (HS code 150710)
South Korea Soyabean Oil Import Prices - Historical, Trends and Prediction
The import price per kilogram of Soyabean oil into South Korea has been fluctuating over the past five years. In 2017, the price was at its lowest at $0.95, before increasing to $1.51 in 2018 and 2019. In 2020, the price rose to $1.72, and then further increased to $1.90 in 2021. The highest price was recorded in 2022, at $2.35. Looking ahead, it is likely that the import price per kilogram of Soyabean oil into South Korea will continue to increase in the next two years. We predict that the price will reach $2.50 in 2023 and $2.65 in 2024.Export values for South Korea soyabean oil
The total values in export for soyabean oil in South Korea were US$ 4,206, US$ 10,376, US$ 2,766 and US$ 3,000 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in South Korea: Milk & Cream, Yogurt, Kefir & Buttermilk, Whey, Butter, Cheese, Natural Honey, Coffee, Green Tea & Black Tea.
See prices of soyabean oil in other countries across Asia: Kazakhstan soyabean oil, Kyrgyzstan soyabean oil, Tajikistan soyabean oil, Turkmenistan soyabean oil, Uzbekistan soyabean oil, China soyabean oil, Hong Kong soyabean oil, Macao soyabean oil, North Korea soyabean oil & Mongolia soyabean oil.
South Korea soyabean oil - Production, Exports, Imports, Seasons and HS Codes
The volume of soyabean oil sold by South Korea in 2020 was 2,166 metric tons. In 2019 South Korea exported 1,981 tonnes of soyabean oil. For the year 2019 alone, the demand for South Korea soyabean oil (processed category) has gone up, with a change of 7.898 pc compared to the year 2018. Between 2017 and 2019, soyabean oil's exports decreased by -81.86% earning South Korea US$3.00m for the year 2019. South Korea's soyabean oil exports are classified as:
- Crude soya-bean oil, whether or not degummed (HS code 150710)
- Soya-bean oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 150790)
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South Korea soyabean oil export values
In 2019, South Korea supplied soyabean oil valued at 3.00m USD, a growth of 8.46% from 2018's total soyabean oil export of 2.766m USD. The annual change in value of South Korea soyabean oil between 2017 to 2018 was -73.342 percent.
The annual variation in the amount of South Korea's soyabean oil exports between 2017 and 2019 was -81.86 pc when compared to a variation of 7.898% in the growth rate between 2018 and 2019.
South Korea's share of the world's total soyabean oil's exports in 2019 was less than 1%. The country is ranked position 20 in world exports of soyabean oil.
Export markets for South Korea soyabean oil ( in '000$ )
South Korea's top destinations for soyabean oil are Russia, Japan, China, Australia and Kuwait.
Import/Export Trends
South Korea is a net importer of soyabean oil. The annual growth of South Korea soyabean oil in value between 2015 to 2019 was 157%, per year, while annual growth in quantity through the same period was %, per annum.
South Korea brought in 351,066 tonnes of soyabean oil in 2019.