Soybean Oil

U.S. Soybean Oil Exports in 2022

Total Export Value
$1.01 Billion
3-Year Average
$963.24 Million
Compound Average Growth
1% (2013-2022)

Top 10 Markets for Soybean Oil in 2022

Market Total Value (USD)
India $207.63 Million
Canada $158.29 Million
South Korea $143.82 Million
Mexico $116.52 Million
Guatemala $94.8 Million
Venezuela $86.06 Million
Dominican Republic $58.87 Million
Colombia $37.62 Million
Jamaica $30.94 Million
Honduras $9.49 Million
Top 10 Soybean Oil Export Markets 2013 - 2022
Annual Soybean Oil Exports 2013 - 2022

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Data and Analysis

Attaché Report (GAIN)

Brazil: Oilseeds and Products Update

For 2023/24, Post forecasts soybean planted area at 45.2 million hectares (ha), and production at 159 million metric tons (MMT), based on a yield of 3.52 mt per ha.
Attaché Report (GAIN)

China: Oilseeds and Products Update

Soybean imports are increased to 98 million metric tons (MMT) and 98.5 MMT in marketing year (MY) 22/23 and MY 23/24, respectively, on rebounding soybean meal (SBM) and soybean oil demand.
On June 14, 2023, India’s Ministry of Finance issued Public Notice No. 39/2023 - Customs that reduces the import duty on refined sunflower and soybean oils.

News and Features

April 3, 2023
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.

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