Production of soybean meal increased in the USA

According to the Oil World report, in February, the volume of soybean processing in the US amounted to 5.28 mln tonnes, which is 10% more than last year (4.81 mln tonnes), and remained at the level of January this year (5.30 mln tonnes).

Experts note that in February, the domestic consumption of soybean oil in the U.S. increased by 6%, reaching the level of October, when its use for biodiesel production gave way to rapeseed oil, fats and UCO.

There is also an increase in the production of soybean meal in the US, which is mainly exported. According to the data for October-February 2023/24, the production of this product increased by 1.1 mln tons compared to last year, reaching 21.2 mln tons, and its exports increased by 1.3 mln tons to 6.7 mln tons.

Tags: soybean meal, USA