US increases soybean oil imports amid growing demand for biofuels

According to Oil World, the US increased soybean oil imports in July compared to the same period last year from 13 to 33 thousand tons, and in total, 170 thousand tons of oil have been imported since the beginning of the season (147 thousand tons for the same period last year).

 

Despite record oilseed processing volumes in the US in recent months, domestic supply has not been able to meet the rapidly growing demand for vegetable oils. As a result, the US remains a net importer of soybean oil, also driven by a significant premium in domestic prices compared to world prices.

 

Against the backdrop of political incentives and limited supply of other feedstocks for biofuel production, soybean oil consumption by the US biofuel sector in 2026/27 MY could reach 7.9 million tons, which would exceed 50% of the total consumption of this oil in the country for the first time.

 

In July, total imports to the US of 17 types of vegetable oils, fats and used cooking oil (UCO) increased compared to the same period last year from 893 thousand tons to a record 1.06 million tons, in particular rapeseed oil - from 173 to 230 thousand tons and palm oil - from 137 to 159 thousand tons.

 

In total, during October-July 2025/26, the US imported 2.43 million tons of rapeseed oil (2.25 million tons for the same period last year) and 1.17 (1.27) million tons of palm oil.

 

In addition, in May-July, the US sharply increased its imports of biodiesel to 61 thousand tons, most of which was supplied from Germany.