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Oil-cake and other solid residues; whether or not ground or in the form of pellets, resulting from the extraction of soya-bean oil

2304 (Harmonized System 1992 for 4-digit)

2023
World Trade $35.3BRnk 121 / 1217
2023
Top Exporter | Top Importer $11B | $2.6BBrazil | Indonesia
2023
Product Complexity -1.43Rnk 948 / 1044
2022 - 2023
Export Growth (CAGR) -7.04%Rnk 649 / 1217
2023
Share of World Trade 0.16%Rnk 121 / 1217

About

Overview This page contains the latest trade data of Soybean Meal. In 2023, Soybean Meal were the world's 121st most traded product, with a total trade of $35.3B. Between 2022 and 2023 the exports of Soybean Meal decreased by -7.04%, from $38B to $35.3B. Trade in Soybean Meal represent 0.16% of total world trade.

Soybean Meal are a part of Food residues & wastes; animal fodder. They include Soya-bean oil-cake and other solid residues.

Exports In 2023 the top exporters of Soybean Meal  were Brazil ($11B), Argentina ($8.34B), United States ($6.9B), Netherlands ($1.18B), and India ($1.11B).

Imports In 2023 the top importers of Soybean Meal were Indonesia ($2.6B), Vietnam ($2.2B), Thailand ($1.7B), Poland ($1.49B), and Philippines ($1.35B).

Ranking Soybean Meal ranks 948th in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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The following visualization shows the latest trends on Soybean Meal. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)Brazil$11B
Top Destination (2023)Indonesia$2.6B

In 2023 Soybean Meal were the world's 121st most traded product (out of 1,217).

In 2023, the top exporters of Soybean Meal were Brazil ($11B), Argentina ($8.34B), United States ($6.9B), Netherlands ($1.18B), and India ($1.11B).

In 2023, the top importers of Soybean Meal were Indonesia ($2.6B), Vietnam ($2.2B), Thailand ($1.7B), Poland ($1.49B), and Philippines ($1.35B).

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Exporters of Soybean Meal (2023)
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Importers of Soybean Meal (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Brazil$849M
Top Destination Growth (2022 -  2023)Egypt$275M

Between 2022 and 2023, the exports of Soybean Meal grew the fastest in Brazil ($849M), United States ($751M), India ($520M), China ($219M), and Paraguay ($179M).

Between 2022 and 2023, the fastest growing importers of Soybean Meal were Egypt ($275M), Thailand ($193M), Bangladesh ($153M), Belgium ($151M), and Pakistan ($146M).

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Exporters of Soybean Meal (2022 - 2023)

Importers of Soybean Meal (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Soybean Meal.

In 2023, market concentration measured using Shannon Entropy, was 3.15. This means that most of the exports of Soybean Meal are explained by 8 countries.

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Value of Exports in Soybean Meal

Net Trade

TOP NET EXPORTER (2023)Brazil$11B
TOP NET IMPORTER (2023)Indonesia$2.6B

This map shows which countries export or import more of Soybean Meal. Each country is colored based on the difference in exports and imports of Soybean Meal during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Soybean Meal were Brazil ($11B), Argentina ($8.27B), United States ($6.47B), India ($1.1B), and Paraguay ($822M).

In 2023, the countries that had a largest trade value in imports than in exports of Soybean Meal were Indonesia ($2.6B), Vietnam ($2.17B), Thailand ($1.65B), Poland ($1.44B), and Philippines ($1.35B).

Net Trade (2023)

Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Soybean Meal.
It is possible to select the main countries that export or import Soybean Meal in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Soybean Meal by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALItaly+ $54.2M
TOP IMPORT POTENTIALParaguay+ $936k

Soybean Meal’s highest export potential is Italy. With an export gap of $54.2M.  Soybean Meal’s highest import potential is Paraguay with an import gap of $936k.

See methodology.

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Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2023)

Related Products

This visualization shows products that are likely to be exported by countries that export Soybean Meal.

Country by Relatedness

The following visualization shows the relatedness of Soybean Meal to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2023)

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