Take Your Trading To The Next Level. Get Started Here!

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

October 13, 2023 Comments Off

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…