Abstract: A system and method of degumming a plant derived oil comprising mixing a feed stream under ultrahigh shear conditions to provide a mixed stream, passing the mixed stream through a retention tank, and separating the mixed stream into an aqueous stream and an oil stream is disclosed. The feed stream comprises water, optional added acid(s), and triglyceride oil, such as a plant derived oil, having a relatively high phosphorous content and may also include metal impurities such as calcium, magnesium and/or iron ions. The process can provide a triglyceride oil stream with a phosphorous content of no more than about 10 to 20 ppm and no more than about 0.5 wt. % free fatty acids. In many instances, the triglyceride oil stream has phosphorous content which is no more than about 3% of the phosphorous content of the feed stream. The process also provides a wet gum stream, which may have an AI of 75 or higher.