US soybean processing increased 10% in February

Published 2024년 4월 6일

Tridge summary

In February, the U.S. experienced a 10% increase in soybean processing from the previous year, reaching 5.28 million tons, despite a slight dip from January. This rise is part of a larger trend of growing domestic soy product consumption, which saw a 6% increase to levels not seen since the previous October. During this period, the biodiesel industry shifted its preference towards rapeseed oil and used cooking oil, moving away from soy oil. From October to February 2023-24, meal output climbed by 1.1 million tons to 21.2 million tons, with exports also rising by 1.3 million to 6.7 million tons. The reasons behind these shifts and specific oil production data were not detailed.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In February of this year, the volume of soybean processing in the United States increased by 10 percent from the same month last year - to 5.28 million tons. This was reported in a report by the German analytical agency OilWorld. In exact figures, this is 470 thousand tons more. However, compared to January, the figure decreased by 20 thousand tons. None of the analysts specified the reasons for these changes. Specific data on oil production are not provided. Only a six percent increase in domestic consumption of the product in the country is reported. As a result, it reached the level of October last year. But exact numbers are also not indicated. The agency recalls that at that time the use of this product for the production of biodiesel gave way to the use of rapeseed oil, as well as fats and UCO (Used Cooking Oil, waste vegetable oil). Let us recall that biodiesel is used to create an alternative fuel, which developed countries are ...

Source: Rosng