Market research

Soybean oilcake market in Caribbean

Release date: Mar 29, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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"Caribbean" region includes following countries:

Antigua and Barbuda

the Bahamas

Barbados

British Virgin Islands

Cayman Islands

Cuba

Dominica

Dominican Republic

Grenada

Guadeloupe

Haiti

Jamaica

Martinique

Montserrat

Curacao

Aruba

Saint Maarten (Dutch part)

Bonaire

Puerto Rico

Saint-Barthélemy

Saint Kitts and Nevis

Anguilla

Saint Lucia

Saint-Martin (French Part)

Saint Vincent and the Grenadines

Trinidad and Tobago

Turks and Caicos Islands

United States Virgin Islands

Earlier Report Observations

The soybean oilcake market in the Caribbean experienced significant fluctuations between 2018 and 2023. After starting at 707 thousand tons in 2018, volume dipped to 636 thousand tons in 2019 before surging to 761 thousand tons in 2020. This period was marked by active regional trade, with Mexico engaging in substantial international sales and purchases, particularly with the United States, which supported market activity.

Following the 2020 peak, the market contracted for three consecutive years, falling to 646 thousand tons in 2021, 597 thousand tons in 2022, and 493 thousand tons in 2023. Despite this downward trend, significant commercial exchanges continued in the wider region, exemplified by trade in soybean oilcake within Mexico reaching $845 million in 2023. By 2024, regional consumption stabilized, and trade flows such as Ecuador's imports from Argentina and Brazil's exports to Costa Rica underscored ongoing market integration.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Caribbean
  1. 5.1.1. Annual dynamics of production in Caribbean in kind, 2018-2023, K t
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, K t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, K t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data*)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, K t
    1. 6.1.2.1. Annual dynamics of product's imports to Antigua and Barbuda in kind, 2018-2024, K t
    2. 6.1.2.2. Dynamics of product's imports in kind to Antigua and Barbuda by countries, 2018-2024, K t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Antigua and Barbuda in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Antigua and Barbuda by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Antigua and Barbuda, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Antigua and Barbuda by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, K t
    1. 6.2.2.1. Annual dynamics of product's imports to Antigua and Barbuda in kind, 2018-2024, K t
    2. 6.2.2.2. Dynamics of product's imports in kind to Antigua and Barbuda by countries, 2018-2024, K t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Antigua and Barbuda in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Antigua and Barbuda by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Antigua and Barbuda, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Antigua and Barbuda by countries, 2018-2024, $ US/t
7. Exports
1. 7.1. Exports (Direct Data*)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, K t
    1. 7.1.2.1. Annual dynamics of product's exports from Antigua and Barbuda in kind, 2018-2024, K t
    2. 7.1.2.2. Dynamics of product's exports in kind from Antigua and Barbuda by countries, 2018-2024, K t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Antigua and Barbuda in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Antigua and Barbuda by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Antigua and Barbuda, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from Antigua and Barbuda by countries, 2018-2024, $ US/t
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, K t
    1. 7.2.2.1. Annual dynamics of product's exports from Antigua and Barbuda in kind, 2018-2024, K t
    2. 7.2.2.2. Dynamics of product's exports in kind from Antigua and Barbuda by countries, 2018-2024, K t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Antigua and Barbuda in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Antigua and Barbuda by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Antigua and Barbuda, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from Antigua and Barbuda by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production soybean oilcake in Caribbean

In kind, 2017-2020, K t

Top producers of soybean oilcake, 2017-2020

Source: SHEV.io

World map of production of soybean oilcake, 2017-2020

Source: SHEV.io

Caribbean's soybean oilcake production declined for the second year in a row. In 2020, the region produced 41.7 thousand tons, which represents a sharp drop of 60.9% compared to 2019. Looking at the period from 2017 to 2020, production fell by 58.2%, translating to an average annual decline of 25.2%. The highest production level was recorded in 2018 at 111.5 thousand tons, which also saw the largest year-on-year increase of 11.8%.

Annual dynamics of production in Caribbean in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	11.8%	(4.4%)	(60.9%)	(25.2%)

Source: SHEV.io

In value, 2017-2020, K $ US

Caribbean's soybean oilcake production value also decreased for the second consecutive year. In 2020, the output was valued at 17 620 thousand US dollars, marking a significant 61.2% decline from the previous year. From 2017 to 2020, the production value dropped by 60.4%, averaging an annual decrease of 26.6%. The peak value occurred in 2018 at 50 835 thousand US dollars, which experienced the largest increase of 14.3% that year.

Annual dynamics of production in Caribbean in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	14.3%	(10.7%)	(61.2%)	(26.6%)

Source: SHEV.io

Exports soybean oilcake from Caribbean

Exports in kind, K t

In 2020, Caribbean exported 2.8 thousand tons of soybean oilcake, showing a substantial decline of 30.0% from 2019. Over the 2017-2020 period, exports decreased by 32.5%, with an average annual reduction of 12.3%. The largest increase in exports was recorded in 2019 at 4.7%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(7.9%)	4.7%	(30.0%)	(12.3%)

Source: SHEV.io

Between 2017 and 2020, Suriname and Guyana were the main destinations for Caribbean's soybean oilcake exports in volume terms, together accounting for 32.4% of total export flows.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, M $ US

Caribbean's soybean oilcake export value declined for the third year running. In 2020, exports amounted to 1.2 million US dollars, which is 30.6% lower than in 2019. From 2017 to 2020, export value fell by 36.1%, equating to an average annual decrease of 13.9%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(5.9%)	(2.1%)	(30.6%)	(13.9%)

Source: SHEV.io

During 2017-2020, Suriname and Guyana were the leading markets for Caribbean's soybean oilcake exports in value terms, jointly representing 34.7% of total export flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports soybean oilcake to Caribbean

Imports in kind, K t

Caribbean imported approximately 722.1 thousand tons of soybean oilcake in 2020, representing a notable increase of 35.3% compared to 2019. Over the 2017-2020 period, imports grew by 38.2%, with an average annual growth rate of 11.4%. The largest decline in imports was recorded in 2019 at 10.9%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	14.8%	(10.9%)	35.3%	11.4%

Source: SHEV.io

From 2017 to 2020, the United States and Argentina dominated Caribbean's soybean oilcake imports in volume terms. The United States accounted for 46.3% of total flows, while Argentina contributed 37.3%, together making up 83.6% of imports. The remaining volume was distributed among other trading partners.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, M $ US

In 2020, Caribbean's soybean oilcake import value reached 293.1 million US dollars, showing a sharp increase of 35.1% from 2019. Over the 2017-2020 period, import value rose by 38.1%, with a compound annual growth rate of 11.3%. The largest decline occurred in 2019 at 18.5%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	25.5%	(18.5%)	35.1%	11.3%

Source: SHEV.io

Between 2017 and 2020, the United States and Argentina together accounted for 82.8% of Caribbean's soybean oilcake import value. The remaining flows were thinly spread across other markets.

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

Source: SHEV.io

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

Source: SHEV.io