Vegetable Oils (excl. soybean)
U.S. Vegetable Oils (excl. soybean) Exports in 2023
Total Export Value
$1.43 Billion
Total Volume
732,383 Metric Tons
3-Year Average
$1.82 Billion
Compound Average Growth
-1.49% (2014-2023)
| Market | Total Value (USD) |
|---|---|
| Canada | $315.82 Million |
| Mexico | $277.1 Million |
| Singapore | $149.53 Million |
| European Union | $140.07 Million |
| Kuwait | $62.59 Million |
| Saudi Arabia | $47.09 Million |
| Ethiopia | $29.9 Million |
| China | $26.54 Million |
| Chile | $21.58 Million |
| Brazil | $16.8 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.
Indonesia’s B40 biodiesel blending mandate program, which is expected to roll out in 2025, is projected to increase palm oil use by 3 percent to 22 million metric tons in 2024/25. Soybean consumption recovered in 2023/24 as soybean retail prices continue to decrease.
Indonesia introduced a new, simplified set of export levies for palm oil products, effective September 21, 2024, amidst decreasing crude palm oil (CPO) exports due to competition from other edible oils. Most of the new levies for palm oil exports will be reduced to between 3 percent to 7.5 percent of the reference price which the Government of Indonesia sets monthly.
News and Features
USDA and USAID will deploy $1 billion in Commodity Credit Corporation funding to purchase U.S.-grown commodities to provide emergency food assistance to people in need throughout the world.