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Table 09: Soybean Oil: World Supply and Distribution 
 
Thousand Metric Tons
Date Created  04/11/2024 12:00:50 PM  
 
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  2019/20 2020/21 2021/22 2022/23 Mar
2023/24		 Apr
2023/24
Production nr nr nr nr nr nr
China 16,397 17,024 16,128 17,203 17,562 17,562
United States 11,299 11,350 11,864 11,897 12,258 12,279
Brazil 8,998 8,951 9,762 10,226 10,208 10,208
Argentina 7,700 7,930 7,664 5,991 7,011 7,011
European Union 2,964 3,002 2,926 2,717 2,831 2,831
India 1,550 1,800 1,530 1,854 1,890 1,890
Mexico 1,110 1,145 1,171 1,227 1,196 1,196
Other 8,500 8,472 8,579 8,129 8,727 8,653
 
 
Total 58,518 59,674 59,624 59,244 61,683 61,630
 
Imports nr nr nr nr nr nr
India 3,626 3,251 4,231 3,968 3,300 3,300
Bangladesh 696 676 689 681 725 700
Peru 521 594 471 535 575 575
Morocco 573 507 529 525 550 550
Algeria 626 610 460 490 580 500
European Union 483 493 459 623 400 500
China 998 1,221 291 395 400 400
Colombia 387 285 317 242 350 350
Korea, South 402 407 392 353 350 350
Iran 210 473 375 395 275 275
Other 3,089 3,184 3,136 2,726 3,278 3,222
 
 
Total 11,611 11,701 11,350 10,933 10,783 10,722
 
Exports nr nr nr nr nr nr
Argentina 5,404 6,137 4,873 4,137 4,800 4,800
Brazil 1,156 1,262 2,409 2,686 1,750 1,750
European Union 909 1,065 970 922 900 800
Russia 641 561 550 720 750 750
Paraguay 631 562 371 523 650 640
Bolivia 408 525 523 575 430 430
Turkey 176 264 289 289 275 300
Other 3,059 2,232 2,337 1,794 1,948 1,941
 
 
Total 12,384 12,608 12,322 11,646 11,503 11,411
 
Domestic Consumption nr nr nr nr nr nr
China 17,100 17,800 17,100 17,000 17,800 17,800
United States 10,122 10,574 11,262 12,070 12,337 12,338
Brazil 7,750 7,950 7,450 7,675 8,425 8,425
India 5,125 4,950 5,825 5,400 5,150 5,150
European Union 2,380 2,430 2,305 2,405 2,505 2,455
Argentina 2,175 2,042 2,660 2,050 2,250 2,250
Mexico 1,285 1,290 1,300 1,305 1,300 1,325
Bangladesh 1,264 1,205 1,100 985 990 1,005
Iran 600 850 850 900 800 850
Algeria 750 800 750 750 865 750
Egypt 915 1,010 960 560 785 660
Peru 535 535 555 540 545 550
Korea, South 535 580 590 545 540 540
Morocco 520 510 525 525 525 535
Japan 482 458 533 525 515 520
Other 5,634 5,703 5,755 5,040 5,526 5,518
 
 
Total 57,172 58,687 59,520 58,275 60,858 60,671
 
Ending Stocks nr nr nr nr nr nr
China 777 1,180 387 874 836 836
United States 840 967 903 729 718 738
European Union 440 440 550 563 439 639
India 175 265 186 597 622 622
Brazil 482 470 405 299 357 362
Other 2,705 2,177 2,200 1,825 2,040 1,960
 
 
Total 5,419 5,499 4,631 4,887 5,012 5,157
 
Most countries are on an October/September Marketing Year (MY). Mexico is on a September/August MY. Paraguay and Peru are on an January/December MY and Bolivia is on a March/February MY.