January 8, 2014
US 2013 soy exports up 19% on-year
In the just completed marketing year, the total value of US soy exports jumped 19% from the previous year to a record of more than US$28 billion.
The US soy industry exported a total of 46.3 million tonnes of US soy to customers around the world in the 2012-13 marketing year, which ended September 30.
The US Census Bureau says exports included more than 35.4 million tonnes of whole US soy, meal from 12.4 million tonnes of US soy and oil from 5.1 million tonnes, and that represents 56% of US soy production from last year.
Jared Hagert a soy farmer in North Dakota and the USB Treasurer says the record exports are evidence that US farmers continue to meet customer demand for a reliable supply of quality products.
The current marketing year is off to a very good start with 87% of the total 2014 export forecasts already sold.
Top buyers of whole US soyin 2013 include China at 21 million tonnes, Mexico at 2.7 million tonnes, and Japan at 1.7 million tonnes.
Top buyers of US soymeal in 2013 include Mexico at 1.6 million tonnes, the Philippines at 1.3 million tonnes, and Canada at 1.2 million tonnes.
US soyoil's top buyers in 2013 include China at one million tonnes, Mexico at 954,000 tonnes, and India at 572,000 tonnes.