Soybean Oil
U.S. Soybean Oil Exports in 2023
Total Export Value
$238.82 Million
Total Volume
152,266 Metric Tons
3-Year Average
$714.58 Million
Compound Average Growth
-11.57% (2014-2023)
| Market | Total Value (USD) |
|---|---|
| Canada | $85.91 Million |
| Mexico | $66.23 Million |
| European Union | $21.51 Million |
| Jamaica | $11.53 Million |
| Dominican Republic | $10.39 Million |
| Colombia | $7.23 Million |
| Kuwait | $5.4 Million |
| Panama | $3.88 Million |
| Bahamas, The | $3.63 Million |
| United Arab Emirates | $2.6 Million |
Data and Analysis
FAS New Delhi expects India’s peanut oilseed production to rise by 18 percent in marketing year (MY) 2024/2025 and reach 7.2 million metric tons (MMT) due to higher market prices, an increased planting area of 5.6 million hectares, and the use of high-yielding varieties that produced higher yields.
Soybean production in marketing year (MY) 2024/2025 is estimated at 12.9 million metric tons (MMT) on favorable conditions and slightly higher area.
Post revises down its Marketing Year (MY) 2023/24 production estimates to 150 million metric tons (MMT) due to (i) the recent floods in Brazil’s southernmost state of Rio Grande do Sul and (ii) lower yields across several states.
News and Features
Private exporters reported sales of 23,000 MT of soybean oil for delivery to India during MY 2024/2025.
Private exporters reported sales of 30,000 MT of soybean oil for delivery to South Korea during MY 2024/2025.
Private exporters reported the following sales activities for MY 2024/2025: 30,000 MT of soybean oil for delivery to India, 261,264 MT of soybeans for delivery to Mexico, 135,000 MT of soybean cake and meal for delivery to the Philippines.