Soybean oilcake market in Americas

Earlier Report Observations

From 2018 to 2024, the soybean oilcake market in the Americas showed steady production growth, increasing from 115.1 million tons to 123.6 million tons. This expansion was primarily driven by rising demand for protein-rich animal feed linked to the livestock industry's growth and by technological advancements in oil extraction. Specifically, the rising demand for biodiesel in the United States from 2020 onward led to more efficient soybean crushing, which simultaneously increased the supply of oilcake.

Market volume, reaching 91.5 million tons in 2023, was further shaped by shifting consumer preferences and regulatory developments. The growing adoption of organic and sustainable agricultural practices increased demand for related oilcakes. Concurrently, regulatory attention to factors like hexane residues in oils and new labeling rules for edible oils began influencing production standards and market access.

International trade and external factors played a significant role, with Mexico being a major trading hub. Trade policies and global price volatility for raw materials affected market dynamics, while climatic events impacted soybean availability, influencing oilcake production. Technological improvements in extraction and refining continued to enhance efficiency, supporting overall market output through the period.

Production soybean oilcake in Americas

In kind, 2017-2020, M t

Top producers of soybean oilcake, 2017-2020

World map of production of soybean oilcake, 2017-2020

Soybean oilcake production in the Americas has increased for the second year in a row. In 2018, production reached its lowest point at 115.1 million tonnes, but by 2020 it had risen to 119.6 million tonnes, marking a modest 2.5% increase from the previous year. The most significant decline occurred in 2018, with a drop of 2.1%.

Annual dynamics of production in Americas in kind, 2017-2020, M t

In value, 2017-2020, M $ US

In 2020, the value of soybean oilcake production in the Americas was $41 374 million, showing a slight year-over-year increase of 6.7%. The lowest value was recorded in 2019 at $38 766 million, while the highest was in 2018 at $44 904 million. From 2017 to 2020, production value grew by 3.4%, averaging an annualized rate of 1.1%. The largest decline happened in 2019 with a 13.7% decrease, and the biggest increase was in 2018 with a 12.3% rise.

Annual dynamics of production in Americas in value, 2017-2020, M $ US

Exports soybean oilcake from Americas

Exports in kind, K t

In 2020, the Americas exported 42 566 thousand tonnes of soybean oilcake, which was a 9.9% decrease compared to 2019. The highest export volume was recorded in 2019 at 47 242 thousand tonnes, with the largest increase that year at 7.4%. Over the period from 2017 to 2020, exports fell by 5.3%, translating to a compound annual growth rate of 1.8%.

Annual dynamics of product's exports from Americas in kind, 2017-2020, K t

From 2017 to 2020, the export market for soybean oilcake from the Americas was highly diversified. Vietnam accounted for 9.8% of exports in kind, Indonesia for 9.7%, and the Netherlands for 6.3%, together making up just 25.8% of total flows. The remaining 74.2% was distributed among numerous other countries.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Americas in kind, 2017-2020

Exports in value, M $ US

Soybean oilcake export value from the Americas declined for the second consecutive year. In 2020, exports totaled $14 719 million, down 6.2% from the previous year. The peak value was in 2018 at $17 170 million. Over the 2017-2020 period, export value decreased by 3.8%, with a compound annual growth rate of 1.3%. The largest decline occurred in 2019 at 8.6%, while the biggest increase was in 2018 at 12.2%.

Annual dynamics of product's exports from Americas in value, 2017-2020, M $ US

Between 2017 and 2020, soybean oilcake exports from the Americas in value terms were spread across a wide range of markets. Indonesia represented 9.8% of exports in value, Vietnam 9.5%, and the Netherlands 7.2%, collectively accounting for only 26.4% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Americas in value, 2017-2020

Imports soybean oilcake to Americas

Imports in kind, K t

In 2020, soybean oilcake imports into the Americas reached 8 380 thousand tonnes, a dramatic 27.7% increase from 2019. Over the 2017-2020 period, imports surged by 50.9%, with a compound annual growth rate of 14.7%. The largest decline was in 2019 at 8.6%, and the biggest increase was in 2018 at 29.3%.

Annual dynamics of product's imports to Americas in kind, 2017-2020, K t

From 2017 to 2020, China was the leading supplier of soybean oilcake to the Americas, consistently holding a 0.5% share of total imports in kind.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Americas in kind, 2017-2020

Imports in value, M $ US

In 2020, the Americas imported $3 943 million worth of soybean oilcake, a controlled 7.2% increase compared to 2019. The highest import value was recorded in 2018 at $3 955 million. Over the 2017-2020 period, import value grew by 16.4%, with a compound annual growth rate of 5.2%. The largest decline was in 2019 at 7.0%, and the biggest increase was in 2018 at 16.8%.

Annual dynamics of product's imports to Americas in value, 2017-2020, M $ US

During 2017-2020, China and India were the top suppliers of soybean oilcake to the Americas in value terms, together accounting for 1.4% of total imports.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Americas in value, 2017-2020