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Nigeria Commodity Exchange [citation needed] NCX Abuja, Nigeria Agricultural products Lagos Commodities and Futures Exchange [citation needed] LCFE Lagos, Nigeria Agricultural products, Oil and Gas, Currency, Solid Minerals AFEX Commodities Exchange Limited [8] AFEX Nigeria Abuja, Nigeria Agricultural products Zimbabwe Mercantile Exchange ZMX
Early in the 1970s grain and soybean prices, which had been relatively stable, "soared to levels that were unimaginable at the time". There were a number of factors affecting prices including the "surge in crude oil prices caused by the Arab Oil Embargo in October 1973 (U.S. inflation reached 11% in 1975)". [54]
Soybean oil is one of the most commonly produced vegetable oils. Soybean oil is traded at the Chicago Board of Trade in contracts of 60,000 pounds at a time. Prices are listed in cents and thousandths of a cent per pound, with a minimum fluctuation of 5/1000 cents. [18] It has been traded there since 1951. [19]
On average, one unit of soybeans produces 80% soybean meal, 18.3% soybean oil, and 1.7% waste, though growing conditions affect oil yields. [2] To calculate the crush margin of one unit of soybeans, take the % value of the soybean meal and oil futures (e.g., in CNY/metric ton purchased on the Dalian Commodity Exchange) and subtract the value of the soybeans (e.g., in USD/bushel purchased on ...
A further byproduct called tall oil fatty acid (TOFA) is a cheap source of oleic acid. [219] Tamanu or foraha oil [220] from the Calophyllum tacamahaca, is important in Polynesian culture, and, although very expensive, [220] is used for skin care. [221] Tonka bean oil (Cumaru oil), popular ingredient in cologne, used medicinally in Brazil. [222]
Soybeans are also used in industrial products, including oils, soap, cosmetics, resins, plastics, inks, crayons, solvents, and clothing. Soybean oil is the primary source of biodiesel in the United States, accounting for 80% of domestic biodiesel production. [184]
Countries by soybean production in 2020. This is a list of countries by soybean production from 2016 to 2022, based on data from the Food and Agriculture Organization Corporate Statistical Database. [1] The total world production for soybeans in 2022 was 348,856,427 metric tonnes, down 6.4% from 372,853,699 tonnes in 2021. [1]
Soybean – Legume grown for its edible bean; Soybean oil – Oil obtained from seeds of soya plant; Soybean sprout – Culinary vegetable; Soy milk – Beverage made from soybeans; Soy molasses – Viscous syrup with a typical bittersweet flavor; Soy nut – Soaked, drained and baked soybeans; Soy protein – A protein that is isolated from ...