Soybean Oil
U.S. Soybean Oil Exports in 2021
Total Export Value
$888.83 Million
3-Year Average
$869.88 Million
Compound Average Growth
-2.62% (2012-2021)
Top 10 Markets for Soybean Oil in 2021
| Market | Total Value (USD) |
|---|---|
| South Korea | $185.24 Million |
| Guatemala | $109.99 Million |
| Mexico | $89.07 Million |
| India | $83.26 Million |
| Dominican Republic | $62.75 Million |
| Canada | $58.83 Million |
| Venezuela | $53.07 Million |
| Peru | $45.24 Million |
| Colombia | $42.51 Million |
| Algeria | $29.5 Million |
Data and Analysis
On January 11, 2023, India’s Ministry of Commerce and Industry/Directorate General of Foreign Trade (DGFT) issued Public Notice No. 50/2015-20. The notice specifies that India amended its previous tariff-rate quota of 2 million metric tons for crude soybean oil, previously allowable at a zero percent duty through Indian fiscal years (IFY) 2022/23 and 2023/24 (April 1-March 31).
Post revises the total feed demand forecast down to 26.6 million tons in MY2021/22 as Vietnam continues to face issues with African Swine Fever, inflation, and high feed ingredient costs.
Interactive Tableau visualization showing the percentage of exported agricultural production for 25 top commodities.