Global soybean meal imports fall for first time in 16 months

The global soybean meal market is showing a decline in import rates for the first time in 16 months. According to German analysts Oil World, shipments in April 2025 amounted to 6.16 million tons compared to 6.23 million tons in April MY 2023/24, and in May – 6.5 million tons compared to 6.62 million tons in the same period last year. This is the first reduction in imports from major supplying countries during this period.

A decrease in imports was recorded in Turkey, Pakistan, Egypt, Bangladesh and the Middle East. One of the reasons was the increase in soybean imports in these regions, which partially replaced the need for meal. In addition, in April-May, supplies to the Philippines and several other Asian countries decreased, which also affected the overall dynamics.

At the same time, soybean meal exports remain relatively high. In particular, shipments to Indonesia, Vietnam, Central America and the European Union are higher than last year. In total, the five main exporting countries have shipped 53.08 million tonnes of meal since the start of the MY 2024/25, which is 7.15 million tonnes more than in the same period of the previous season (45.93 million tonnes).

The Chinese market, the world’s largest importer of soybean meal, is experiencing a slowdown in demand. This is due to increased soybean supplies from Brazil, as well as strategic changes in the country. In April 2025, China announced plans to reduce the content of soybean meal in animal feed to 10% by 2030 (from 13% in 2023). The move is part of Beijing’s efforts to strengthen food security amid trade tensions with the United States.

Tags: soybean meal