Vegetable Oils (excl. soybean)
U.S. Vegetable Oils (excl. soybean) Exports in 2023
Total Export Value
$1.43 Billion
Total Volume
732,383 Metric Tons
3-Year Average
$1.82 Billion
Compound Average Growth
-1.49% (2014-2023)
| Market | Total Value (USD) |
|---|---|
| Canada | $315.82 Million |
| Mexico | $277.1 Million |
| Singapore | $149.53 Million |
| European Union | $140.07 Million |
| Kuwait | $62.59 Million |
| Saudi Arabia | $47.09 Million |
| Ethiopia | $29.9 Million |
| China | $26.54 Million |
| Chile | $21.58 Million |
| Brazil | $16.8 Million |
Data and Analysis
Indonesia introduced a new, simplified set of export levies for palm oil products, effective September 21, 2024, amidst decreasing crude palm oil (CPO) exports due to competition from other edible oils. Most of the new levies for palm oil exports will be reduced to between 3 percent to 7.5 percent of the reference price which the Government of Indonesia sets monthly.
Ukraine introduced procedures for the approval of minimum export prices for selected bulk commodities, including grains, oilseeds, vegetable oils and meals, walnuts, and honey.
While the United States holds a 5-year average of less than 1 percent market share ($20.7 million in 2023 exports), Senegal has a growing food manufacturing industry that seeks cost-competitive ingredients and is expanding its exports to neighboring countries.
News and Features
USDA and USAID will deploy $1 billion in Commodity Credit Corporation funding to purchase U.S.-grown commodities to provide emergency food assistance to people in need throughout the world.