The US is the world's largest exporter of soybean meal. Its export value in 2020 rose to 766.93M USD with the Philippines as the main importer. However, US soybean meal exports to the Philippines decreased to 19.4M USD in October 2021. The increasing supply of soybeans from 2021 lowered the price which is expected to reduce exports to the Philippines in 2022 as well.
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