Table 08: Soybean Meal: World Supply and Distribution


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Table 08: Soybean Meal: World Supply and Distribution

Thousand Metric Tons
Date Created 02/11/2025 12:00:40 PM

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	2020/21	2021/22	2022/23	2023/24	Jan 2024/25	Feb 2024/25
Production	nr	nr	nr	nr	nr	nr
China	75,240	71,280	76,032	78,408	81,576	81,576
United States	45,872	47,005	47,621	49,120	51,661	51,661
Brazil	35,940	39,091	41,125	42,119	42,350	43,120
Argentina	31,318	30,287	23,648	28,535	31,980	31,980
European Union	12,482	12,166	11,297	11,455	12,008	12,008
India	8,000	6,800	8,240	9,040	8,800	8,800
Mexico	4,900	5,020	5,255	5,159	5,255	5,255
Other	35,999	36,508	34,693	36,263	40,483	40,180

Total	249,751	248,157	247,911	260,099	274,113	274,580

Imports	nr	nr	nr	nr	nr	nr
European Union	16,504	16,473	15,997	16,538	16,600	16,600
Indonesia	5,356	5,535	5,434	5,055	6,000	6,000
Vietnam	5,200	5,531	4,724	6,027	6,000	6,000
Philippines	2,839	2,895	2,826	3,025	3,150	3,150
Thailand	2,687	3,077	3,141	2,770	3,150	3,150
Iran	2,000	1,362	1,185	2,985	1,975	2,675
Mexico	1,854	1,827	1,668	1,935	2,200	2,200
United Kingdom	2,214	2,015	1,762	2,000	2,150	2,150
Ecuador	1,597	1,775	1,771	2,000	2,075	2,075
Colombia	1,607	1,831	1,603	1,585	2,000	2,000
Other	23,507	24,742	23,177	25,752	26,905	27,005

Total	65,365	67,063	63,288	69,672	72,205	73,005

Exports	nr	nr	nr	nr	nr	nr
Argentina	28,325	26,589	20,764	24,891	28,000	28,000
Brazil	16,577	20,207	21,334	22,722	21,000	22,000
United States	12,406	12,303	13,196	14,612	15,785	15,785
Bolivia	2,117	2,155	2,155	1,900	1,900	1,900
Paraguay	1,916	1,270	1,992	1,683	2,000	1,725
Other	8,122	6,234	7,619	8,615	6,985	6,910

Total	69,463	68,758	67,060	74,423	75,670	76,320

Domestic Consumption	nr	nr	nr	nr	nr	nr
China	74,425	71,100	75,050	77,150	80,550	80,550
United States	34,179	35,323	34,946	35,056	36,491	36,491
European Union	28,342	27,742	26,742	26,942	27,692	27,692
Brazil	18,800	19,700	20,300	20,000	21,000	21,000
India	5,850	6,273	6,625	7,075	7,725	7,725
Vietnam	6,130	6,235	5,785	6,640	7,375	7,375
Mexico	6,725	6,875	6,930	7,080	7,330	7,330
Indonesia	5,200	5,550	5,580	5,200	5,740	5,740
Iran	3,750	3,500	3,550	4,810	4,740	5,340
Thailand	4,745	4,900	4,750	4,575	4,895	4,895
Russia	3,475	3,500	3,650	3,900	4,100	4,100
Japan	3,615	3,610	3,550	3,580	3,690	3,690
Argentina	3,275	3,325	3,450	3,450	3,525	3,525
Egypt	3,500	3,700	2,700	2,910	3,400	3,400
Philippines	2,875	2,950	2,950	3,050	3,200	3,200
Other	40,868	41,712	40,766	42,868	46,522	46,697

Total	245,754	245,995	247,324	254,286	267,975	268,750

Ending Stocks	nr	nr	nr	nr	nr	nr
Argentina	2,289	2,797	2,298	2,493	2,958	2,958
Brazil	4,460	3,656	3,153	2,568	2,928	2,698
China	958	710	937	794	870	870
European Union	462	595	410	808	824	824
Iran	438	274	278	586	468	568
Other	7,387	8,429	6,200	7,089	8,940	8,935

Total	15,994	16,461	13,276	14,338	16,988	16,853

Most countries are on an October/September Marketing Year (MY). The Mexico and Thailand are on a September/August MY. Canada is on an August/July MY. Paraguay, Vietnam and the Philippines are on a January/December MY and Bolivia is on a March/February MY.