Buenos Aires Economic Express reported on December 3, Argentina is the world's fourth largest sunflower oil and the fourth largest producer of soybean oil, 50% of its production of sunflower oil, 68% of soybean oil for export to generate foreign exchange. In terms of export volume, Argentina is the world's largest exporter of soybean oil. According to the U.S. Department of Agriculture (USDA) analysis predicts that global vegetable oil production and consumption in 2024-2025 will hit record highs, reaching 227 million tons and 224 million tons, respectively. Indonesia, China, the European Union and Russia are the world's largest producers of palm oil, soybean oil, rapeseed oil and sunflower oil, respectively.