Global procurement intelligence advisory firm, SpendEdge, has announced the release of their 'Soybean Oil Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the agro commodities and raw materials industry. This report breaks down the data and analysis behind the procurement of soybean oil and acts as an all-inclusive guide for making smart purchasing decisions.
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Global Soybean Oil Procurement Market Intelligence Report (Graphic: Business Wire)
"Soybean oil has various end-user applications across chemicals, lubricants, and F&B businesses, due to the oil's neutral flavor and balanced fatty acid profile it is being used as food-grade oils in baked goods and salad dressings," says SpendEdge procurement analyst A Kowshik. "Soybean oil is also being used to manufacture bio-diesel that can be made from a blend of diesel and soybean oil," added Kowshik.
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Key Report Features
Supply Market Insights | Negotiation Strategies | ||
Procurement Best Practices | Category Risk Analysis | ||
Cost Saving Opportunities | Key Supplier Analysis | ||
Pricing Models | Supplier Capability Matrix |
Report Insights
- The global soybean oil is expected to grow during the forecast period due to the increased use of soybean oil in industrial applications such as developing industrial paints, lubricants, solvents, cleaners, oleochemicals, and biodiesel. Also, it is considered to be relatively more cost-effective when compared to the other vegetable oils, thus making it an integral raw material for biodiesel manufacturing.
- The buyers in this market should identify and engage with suppliers that not only offer consistency in quality of soybean oil but also have high production and storage capacities and strong capabilities in managing transportation and logistics process for vegetable oils such as soybean oil. Hence the buyers must ensure that the transportation and logistics partners of oil manufacturers are well-equipped and have prior experience of transporting vegetable oils.
- One of the key challenges faced by the soybean oil buyers includes issues related to the accumulation of hexane and other solvents during the extraction process. Therefore the buyers should mention terms in the SLA, to minimize the presence of residual hexane to a level that is not considered harmful for consumption. They can also switch to other alternatives such as natural and organic soybean oil during extraction and processing.
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Soybean Oil Market Pricing Trends
Volume-based pricing is the most widely adopted pricing model in the global soybean oil market. It is used predominantly by large buyers for obtaining discounts and value-additions by leveraging their large-scale procurements. This model provides buyers with additional scope for negotiating on a better per unit if the volume of demand significantly exceeds the MOQ. The market-based pricing model offers the buyers an opportunity to capitalize on market fluctuations by optimizing the time of purchase.
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About SpendEdge
SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.
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Shilpa Balakrishnan
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