Excerpts from the paper: Today the soybean is the most important oilseed in world production and trade and the United States has contributed greatly to the attainment of this position. Similarly, soybean oil is the world's leading vegetable oil and output as well as consumption has moved up sharply over the past decade. Soybean oil accounts for approximately 30 percent of the world's output of vegetable oils and 20 percent of all fats and oils. World requirements for soybean oil have eased some in 1975 due to economic recessionary forces and increased competition from other oils and fats.