Soybean meal imports seen to rise 10% in 2027

MANILA, Philippines — The country’s imports of soybean meal are forecast to expand by 10 percent in 2027 due to rising demand from the poultry sector.

A report by the US Department of Agriculture (USDA) said Philippine soybean meal imports could reach 3.85 million metric tons next year, higher than the 3.5 million MT estimate for 2026.

The USDA revised upward its import figures for the Philippines by 200,000 MT from the initial 3.65 million MT due to “increased demand prospects.”

The international agency noted that the continued expansion of the Philippines’ poultry sector could further spur demand for soybean meal. It forecasts a nearly six percent expansion in the country’s poultry sector.

It added that the Philippines exceeded the latest five-year average for first-week outstanding sales by 118,000 MT for the marketing year that began on Oct. 1.

The country remains the largest export market for US soybean meal, the USDA said.

The USDA also noted that US exports of soybean meal are estimated to reach record volume in 2027 to 20.6 million MT, while outstanding sales have already reached 5.1 million MT, exceeding last year’s level.

It added that US soybean meal production and exports have trended upward since 2021.

Soybean meal production in the US is expected to increase by five percent due to a larger soybean crop, high crush and demand for products.

“More competitive soybean meal prices and higher global demand are driving higher US exports, which are forecast to increase by 11 percent,” it added.

Soybean meal is mainly used in the production of animal and aquaculture feed, serving as a key source of crude protein in feed formulations.