RBD Soybean Oil prices across Asian markets followed a broadly mixed trajectory during the second half of 2025. Through the third quarter, prices trended lower across major markets. In India, the world's largest edible oil importer, softer prices prevailed as refiners sourced competitively priced cargoes from alternative origins. A notable trade development saw Indian buyers securing substantial shipments from China, which offered soybean oil at meaningful discounts to reduce excess domestic inventories. This temporary reversal of conventional trade flows displaced a portion of traditional South American imports and kept the regional market well supplied. Across Asia, trading conditions remained orderly with limited volatility, while Argentina's removal of export tariffs and subdued Chinese domestic demand added further downward pressure on global benchmarks.
The fourth quarter brought a shift in sentiment, as expectations of a tighter palm oil supply and anticipated biodiesel policy changes in Southeast Asia encouraged forward buying activity. Indian importers placed elevated purchase commitments extending into subsequent periods. However, rising domestic crushing output from the new crop season improved local availability, and weakening seasonal consumption softened import demand toward the end of the period, with some buyers cancelling or deferring near-term cargoes.