US shifts to net soybean oil importer on biofuel boom: Foreign Agricultural Service

A surge in US biofuel demand will flip its domestic soybean oil trade and make it a net importer in MY 2023-24 (September-August) for the second consecutive year, the US Foreign Agricultural Service said Oct. 12 US soybean oil derivative exports for MY 2023-24 was estimated in FAS’ latest report at 159,000 mt, against imports of 181,000 mt, again making…A surge in US biofuel demand will flip its domestic soybean oil trade and make it a net importer in MY 2023-24 (September-August) for the second consecutive year, the US Foreign Agricultural Service said Oct. 12 US soybean oil derivative exports for MY 2023-24 was estimated in FAS’ latest report at 159,000 mt, against imports of 181,000 mt, again making…  Read More