Soybean Oil
U.S. Soybean Oil Exports in 2024
Total Export Value
$522.75 Million
Total Volume
457,516 Metric Tons
3-Year Average
$592.14 Million
Compound Average Growth
-4.27% (2015-2024)
| Market | Total Value (USD) |
|---|---|
| Mexico | $105.84 Million |
| Canada | $86.84 Million |
| Colombia | $83.5 Million |
| Venezuela | $46.84 Million |
| India | $37.53 Million |
| Algeria | $33.54 Million |
| South Korea | $32.79 Million |
| Dominican Republic | $27.86 Million |
| Jamaica | $25.45 Million |
| Egypt | $7.36 Million |
Data and Analysis
Although domestic soybean production is forecast to reach a 20-year high in marketing year (MY) 2025/26, Korea will remain dependent on imports for 89 percent of total supply.
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.
News and Features
Private exporters reported sales of 20,000 MT of soybean oil for delivery to unknown destinations during MY 2024/2025.
Private exporters reported the following sales activity for MY 2024/2025: 130,000 MT of white wheat for delivery to South Korea and 20,000 MT of soybean oil for delivery to unknown destinations.
Private exporters reported sales of 20,000 MT of soybean oil for delivery to unknown destinations during MY 2024/2025.