U.S. soybean oil prices have risen dramatically in 2025, to a 15-year high, driven by favorable prices and a shift in trade. January shipments reached 212,714 metric tons, the largest since 2010, compared with just 171,417 tons in the 2022–2023 marketing year. The lower U.S. soybean oil prices have resulted in increased export demand, especially compared to palm oil. South Korea, Colombia and Mexico accounted for 41% of U.S. exports, while India accounted for 20% of purchases. Demand is still high,
The main factor driving the demand increase was the decline in pricing. But these efforts have not worked as planned, allowing soybean oil prices to fall.
India, the world’s leading importer of cooking oil, has been The U.S. has been a major buyer, accounting for 20% of soybean oil exports. An additional 41% came from Mexico, South Korea and Colombia. As of February 27, total U.S. soybean oil export sales for 2024-25 had already reached 764,000 tons — the highest in 12 years. The figure is higher than the USDA’s full-year export estimate of 726,000 tons, raising expectations that the company may revise its outlook upward.
