Exports: Soybean oil
Soybean oil, the No. 198 export by value totaled $119.44 million for the month of May, $496.7 million through May of 2020, and $729.83 million for all of 2019, the latest annual data available, according to U.S. Census Bureau data analyzed by WorldCity. Need more details? Read more
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Top Markets
| Rank | Country | YTD |
|---|---|---|
| 1 | South Korea | $115.96 M |
| 2 | Mexico | $60.17 M |
| 3 | Morocco | $55.56 M |
| 4 | Dominican Republic | $51.46 M |
| 5 | Colombia | $49.25 M |
| 6 | Guatemala | $32.19 M |
| 7 | Egypt | $22.93 M |
| 8 | Venezuela | $20.31 M |
| 9 | Peru | $20.22 M |
| 10 | Canada | $11.29 M |
Top Gateways
| Rank | Port | YTD |
|---|---|---|
| 1 | Port of New Orleans | $286.99 M |
| 2 | Port of Virginia | $78.07 M |
| 3 | Port of Southern Louisiana, Gramercy, St. James Parish | $41.2 M |
| 4 | Eagle Pass | $30.19 M |
| 5 | Port Laredo | $23.37 M |
| 6 | Port of New York | $6.03 M |
| 7 | El Paso Border Crossing, Texas | $5.89 M |
| 8 | Pembina Border Crossing, N.D. | $2.85 M |
| 9 | Port of Richmond, Calif. | $2.41 M |
| 10 | Port of Jacksonville, Fla. | $2.29 M |
U.S. exports of Soybean oil increased 54.30 percent through May to $496.7 million
U.S. exports of Soybean oil increased 54.30 percent from $321.9 million to $496.7 million through the first five months of 2020 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data.
The category ranked 198 through May among the roughly 1,265 export commodity groupings as classified by Census. It ranked No. 298 for the last full year with a total value of $729.83 million, a $149.57 million, 17.01 percent decreased from the 2018 total.
Through May of this year the leading sources were No. 1 South Korea, No. 2 Mexico, No. 3 Dominican Republic, No. 4 Guatemala and No. 5 Colombia. The leading gateways were No. 1 Port of New Orleans, No. 2 Port of Virginia, No. 3 Port of Southern Louisiana, Gramercy, St. James Parish, No. 4 Eagle Pass and No. 5 Port Laredo.
In the last previous full year, the leading sources were No. 1 South Korea, No. 2 Mexico, No. 3 Dominican Republic, No. 4 Colombia and No. 5 Peru. The leading gateways were No. 1 Port of New Orleans, No. 2 Port of Virginia, No. 3 Eagle Pass, No. 4 Port Laredo and No. 5 Port of Southern Louisiana, Gramercy, St. James Parish.
Looking at specific airports, seaports and border crossings, the top five through through the first five months of the year were:
Highlights for the top five ports:
- Port of New Orleans rose 93.1 percent compared to last year to $286.99 million.
- Port of Virginia rose 18.36 percent compared to last year to $78.07 million.
- Port of Southern Louisiana, Gramercy, St. James Parish rose 58.24 percent compared to last year to $41.2 million.
- Eagle Pass rose 12.41 percent compared to last year to $30.19 million.
- Port Laredo rose 18.87 percent compared to last year to $23.37 million.
There are several hundred airports, seaports and border crossings that handle international trade; they are, in turn, part of the roughly four dozen U.S. Customs districts.
Highlights for the top five foreign markets:
- U.S. exports from No. 1 South Korea increased $41.08 million, 19.22 percent, (51.3 percent market share).
- U.S. exports from No. 2 Mexico decreased $16.47 million, 12.86 percent, (22.47 percent market share).
- U.S. exports from No. 3 Dominican Republic decreased $16.56 million, 15.48 percent, (18.2 percent market share).
- U.S. exports from No. 4 Guatemala increased $2.65 million, 4.66 percent, (11.96 percent market share).
- U.S. exports from No. 5 Colombia decreased $42.88 million, 42.89 percent, (11.5 percent market share).
All totaled, 78.56 percent of all these Soybean oil exports from the United States were shipped from the top five markets through May of this year. That is equal to $573.32 million of the $729.83 million total.
All totaled, 92.57 percent of all these Soybean oil exports to the United States were shipped to the top five Ports through May of this year. That is equal to $459.81 million of the $496.7 million total