Soybean Oil

U.S. Soybean Oil Exports in 2023

Total Export Value
$238.87 Million
3-Year Average
$714.62 Million
Compound Average Growth
-11.57% (2014-2023)
Market Total Value (USD)
Canada $85.94 Million
Mexico $66.23 Million
European Union $21.51 Million
Jamaica $11.53 Million
Dominican Republic $10.55 Million
Colombia $7.23 Million
Kuwait $5.4 Million
Panama $3.88 Million
Bahamas, The $3.51 Million
United Arab Emirates $2.6 Million
Top 10 Soybean Oil Export Markets 2014 - 2023
Annual Soybean Oil Exports 2014 - 2023

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Data and Analysis

Attaché Report (GAIN)

South Korea: Vegetable Oil Market Overview

This report analyzes all vegetable oil markets in Korea, whether for food or industrial use, and covers oils derived from soybean, palm, palm kernel, olive, rapeseed/canola, grapeseed, sunflower seed, corn, coconut, sesame, perilla seed (a leafy plant from the mint family), and rice bran.
Attaché Report (GAIN)

Indonesia: Oilseeds and Products Update

Post revised down Indonesia palm oil exports estimate to 27.9 million metric ton (MMT) on lower supplies, higher domestic use and expected reduced export demand for 2023/24. Palm oil use for the biodiesel industry is revised down to 12.3 MMT for 2023/24 on lower-than-expected biodiesel distribution in 2023.
Attaché Report (GAIN)

Brazil: Oilseeds and Products Update

Post revises down MY 2023/24 soybean production to 158.5 MMT due to poor weather outlooks resulting from El Niño, particularly in the Centre West states, which may affect final yields currently projected at 3.507 kg/ha.

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.
Export Sales Announcement

Export Sales to Mexico and Unknown Destinations

Private exporters reported the following sales activity: 150,000 MT of corn for delivery to Mexico during MY 2023/2024 and 20,000 MT of soybean oil for delivery to unknown destinations during MY 2022/2023.