2021/22 soybean oil exports ended near 2020/21 level
According to USDA’s Foreign Ag Service, the U.S. exported a total of 678,426 MT (1.496 billion pounds) of soybean oil during the 2021/22 marketing year, up 2,815 MT from the season before.
Of the season’s top destinations for U.S. soybean oil, 24 percent of exports went to India, 16 percent to South Korea, 12 percent to Mexico, 10.5 percent to Guatemala, and 9 percent to the Dominican Republic.
USDA is forecasting a sharp drop in soybean oil exports during 2022/23 due to intense demand in the domestic market.
Cumulative soybean oil exports by season
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