posted by David Miller on Thursday, December 28, 2023
According to the USDA-FAS PSD database, reported world consumption of soybean meal was 243.67 million metric tons (mmt) in the 2022/23 marketing year. China was the top user of soybean meal (SBM) with 75.66 mmt of consumption followed by the U.S. with 34.84 mmt, the EU with 26.75 mmt, Brazil with 20.30 mmt, and Mexico with 6.88 mmt (Figure 1).
Figure 1. Soybean Meal Feed Use, Top 30 Countries, 2022/23
In order to get a “better look” at the SBM consumption of the countries beyond the top 4, Figure 2
Figure 2. Soybean Meal Feed Use, Top5-30 Countries, 2022/23
Shows the SBM consumption of the countries ranking 5 to 30 for the 2022/23 year. Mexico leads this group with 6.88 mmt of DBM consumption, followed by India (6.23 mmt), Vietnam (6.10 mmt), Indonesia (5.58 mmt), Thailand (4.75 mmt), and Russia (3.65 mmt). There are 29 countries that report more than 1 mmt of soybean meal consumption on an annual basis.
The top 30 soybean meal importers are shown in Figure 3. The EU is the leading importer of SBM with 16.01 mmt of SBM imports followed by Indonesia (5.43 mmt), Vietnam (5.00 mmt), Thailand (3.14 mmt), and the Philippines (2.60 mmt). There are 16 importers that secure more than 1 mmt of SBM imports on an annual basis. There are 77 countries in the PSD database that had positive SBM imports in the 2022/23 marketing year.
Figure 3. Top 30 Soybean Meal Importers (Any Source), 2022/23