Soybean Meal
U.S. Soybean Meal Exports in 2024
Total Export Value
$6.35 Billion
Total Volume (Millions)
14.74 Metric Tons
3-Year Average
$6.59 Billion
Compound Average Growth
2.9% (2015-2024)
| Market | Total Value (USD) |
|---|---|
| Philippines | $1.01 Billion |
| Mexico | $896.71 Million |
| Canada | $680.27 Million |
| Colombia | $640.08 Million |
| Vietnam | $361.48 Million |
| Venezuela | $271.13 Million |
| Dominican Republic | $260.5 Million |
| Guatemala | $253.14 Million |
| European Union | $241.53 Million |
| Ecuador | $205.13 Million |
Data and Analysis
Malaysia’s palm oil production is forecast at 19.5 million metric tons (MT) in MY2025/26, with export estimates rising to 16.2 million MT as demand in African markets grows and Indonesia’s B40 mandate limits regional supply.
Post raises its forecast for soybean meal imports in 2025/26, driven by stronger poultry demand and increased requirements from the expanding Free Nutritious Meal (MBG) program. Soybean consumption is also projected to recover in 2025/26 following contracted use related to weak household consumption in early 2025.
Vietnam’s soybean crushers are expanding capacity with new production lines. As a result, soybean imports are expected to rise, while local soybean meal production increases and imported soybean meal declines in Marketing Year (MY) 2025/26.
News and Features
Private exporters reported sales activities for delivery in MY 2025/2026 and MY 2026/2027.
Private exporters reported the following sales activity for MY 2025/2026: 136,000 MT of soybeans for delivery to China, 119,000 MT of soybeans for delivery to unknown destinations, 212,000 MT of soybeans received in the reporting period for delivery to unknown destinations, 120,000 MT of soybean cake and meal for delivery to Poland.
Private exporters reported sales of 185,000 MT of soybean cake and meal for delivery to the Philippines during MY 2025/2026.