Soybean oilcake market in the United States

Earlier Report Observations

From 2018 to 2019, the U.S. soybean oilcake market volume increased, supported by growing demand for protein-rich animal feed. Technological advancements in oil extraction also improved processing efficiency during this period. However, in 2020, the COVID-19 pandemic caused supply chain and trade disruptions, which temporarily reduced the market volume despite emerging policy shifts that began to boost soybean oil demand for biofuels.

Starting in 2021, a major expansion in renewable diesel production sharply increased domestic demand for soybean oil as a feedstock. This led to significant investments in new soybean crushing facilities and higher processing capacity, directly raising oilcake output. Biofuel policy incentives, including sliding-scale carbon intensity credits and the Clean Fuel Production Credit, further solidified this demand driver. Consequently, the market volume experienced sustained growth through 2023, supported by these structural investments and strong demand from the biofuel sector.

Production soybean oilcake in the United States

In kind, 2017-2020, K t

The United States held the second position globally in soybean oilcake production from 2017 to 2020.

Top producers of soybean oilcake, 2017-2020

World map of production of soybean oilcake, 2017-2020

In 2020, the United States produced 45 872 K t of soybean oilcake, marking a slight decrease of 0.9% compared to the previous year. Over the 2017-2020 period, production grew by 2.7%, with an average annual growth rate of 0.9%. The lowest production level was in 2018 at 43 926 K t, while the highest was in 2019 at 46 292 K t. The most significant decline occurred in 2018, dropping by 1.6%, whereas the largest increase was in 2019, rising by 5.4%.

Annual dynamics of production in the United States in kind, 2017-2020, K t

In value, 2017-2020, M $ US

In 2020, the value of soybean oilcake production in the United States reached 16 808 M $ US, up 1.8% year-over-year. From 2017 to 2020, production value increased by 3.9%, with an average annual growth rate of 1.3%. The peak value was recorded in 2018 at 17 150 M $ US. The most notable decrease happened in 2019, falling by 3.7%, while the largest increase was in 2018, climbing by 6.1%.

Annual dynamics of production in the United States in value, 2017-2020, M $ US

Exports soybean oilcake from the United States

Exports in kind, K t

In 2020, the United States exported 10 044 K t of soybean oilcake, a 4.1% increase from the previous year. Over the 2017-2020 period, exports rose by 16.7%, with an average annual growth rate of 5.3%. The highest export volume was in 2018 at 10 230 K t. The most substantial decline occurred in 2019, dropping by 5.7%, while the largest increase was in 2018, surging by 18.8%.

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

From 2017 to 2020, soybean oilcake exports from the United States were distributed across a wide range of markets. Mexico accounted for 17.7% of exports in kind, Colombia for 11.5%, and Canada for 10.0%, together making up 39.2% of total exports. The remaining 60.8% was spread among numerous smaller destinations.

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

World map of product's exports from the United States in kind, 2017-2020

Exports in value, M $ US

In 2020, the United States exported soybean oilcake worth 3 680 M $ US, a 6.9% increase compared to 2019. Over the 2017-2020 period, export value grew by 18.1%, with an average annual growth rate of 5.7%. The peak value was in 2018 at 3 994 M $ US. The most significant decrease was in 2019, falling by 13.8%, while the largest increase was in 2018, jumping by 28.1%.

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

The export structure in value terms from 2017 to 2020 was diversified. Mexico represented 17.8% of exports in value, Colombia 11.1%, and Canada 9.6%, together accounting for 38.5% of total flows. No single country held a clearly dominant position in this period.

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

World map of product's exports from the United States in value, 2017-2020

Imports soybean oilcake to the United States

Imports in kind, K t

Imports of soybean oilcake into the United States increased for the third consecutive year. In 2020, imports totaled 582 K t, showing a modest rise of 8.3% compared to the previous year. Between 2017 and 2020, imports surged by 110.5%, equivalent to an annualized growth rate of 28.2%.

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

From 2017 to 2020, India and Canada were the dominant sources for soybean oilcake imports in kind, jointly accounting for 86.7% of total flows. Other countries made up the remaining share.

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

World map of product's imports to the United States in kind, 2017-2020

Imports in value, M $ US

Soybean oilcake imports into the United States increased for the third year in a row. In 2020, imports amounted to 364 M $ US, up 15.7% from 2019. Over the 2017-2020 period, import value grew by 129.8%, with an average annual growth rate of 32.0%.

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

From 2017 to 2020, India and Canada served as the primary sources for soybean oilcake imports in value terms, jointly representing 85.4% of total flows. The rest was attributed to other markets.

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

World map of product's imports to the United States in value, 2017-2020