Soybean Meal

U.S. Soybean Meal Exports in 2023

Total Export Value
$7.38 Billion
Total Volume (Millions)
14 Metric Tons
3-Year Average
$6.35 Billion
Compound Average Growth
3% (2014-2023)
Market Total Value (USD)
Philippines $1.27 Billion
Mexico $822.52 Million
Colombia $762.34 Million
Canada $615.87 Million
European Union $488.19 Million
Ecuador $453.87 Million
Venezuela $335.25 Million
Guatemala $292.89 Million
Dominican Republic $275.83 Million
Vietnam $244.14 Million
Top 10 Soybean Meal Export Markets 2014 - 2023
Annual Soybean Meal Exports 2014 - 2023

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Data and Analysis

Attaché Report (GAIN)

India: Oilseeds and Products Annual

India’s oilseeds production in marketing year (MY) 2024/25 (October-September) is forecast to reach 41.9 million metric tons (MMT), a marginal drop from MY2023/2024 estimate of 42.7 MMT due weaker prices for Indian producers, limited agricultural input availability, and weather trends.
Attaché Report (GAIN)

Philippines: Oilseeds and Products Annual

FAS Manila forecasts MY 2024/25 soybean meal imports to reach 3.2 million metric tons (MMT), an increase of 4 percent attributed to the growing feed demand for livestock, poultry, and aquaculture. The projected 3 percent growth in soybean meal equivalent (SME) consumption coincides with the forecasted 3 percent increase in livestock production during the same period.
Attaché Report (GAIN)

Japan: Oilseeds and Products Annual

In relation to persistent rising food prices, Japan has seen a decline in overall vegetable oil consumption. Due to the more favorable crush margin for canola compared to soybeans, FAS/Tokyo forecasts a reduction in soybean imports and crush, while seeing an increase in rapeseed imports and crush for both MY 2023/24 and MY 2024/25.

News and Features

Export Sales Announcement

Export Sales to Taiwan and Unknown Destinations

Private exporters reported the following sales activity: 110,000 MT of corn for delivery to Taiwan during MY 2023/2024 and 126,000 MT of soybean cake and meal for delivery to unknown destinations - 30,000 MT during MY 2023/2024 and 96,000 MT during MY 2024/2025.
Export Sales Announcement

Export Sales to Unknown Destinations

Private exporters reported sales of 100,000 MT of soybean cake and meal for delivery to unknown destinations during MY 2023/2024.
Export Sales Announcement

Export Sales to China, Mexico, and Philippines

Private exporters reported to USDA the following sales activity, all for delivery during the 2023/2024 marketing year: 440,000 MT of soft red winter wheat to China; 267,044 MT of corn to Mexico; 183,000 MT of soybean cake and meal to the Philippines.