December 19, 2008
US '08 soy exports reach US$12 billion
The US exported more than US$12 billion worth of soy totalling 1.5 billion bushels this year, according to the United Soybean Board.
US soy farmers shipped out over 1.1 billion bushels of soy. Soymeal exports were up 11 percent from last year's exports hitting 346 million bushels. Soyoil exports totalled nearly 1.1 million tonnes with an increase of 68 percent from last year's numbers.
China tops the list of US soy importers with 490 million bushels, which go toward human and animal consumption.
Mexico comes in as the second-largest importer buying 131 million bushels, followed closely by Japan with nearly 100 million bushels.
US soy also maintained a strong presence in the EU with Germany importing 45 million bushels, the Netherlands importing 43 million bushels and Spain accepting 19 million bushels.