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Where does the Philippines get its soybean meal? Import sources 2024

In 2024, the Philippines imported $1.5 billion of soybean meal (2.6 million tonnes), 4.4% of the world total. The United States sold 91% of the total, followed by Argentina (6%) and Brazil (2%). The Philippines was the world’s 3rd-largest importer of soybean meal.

Summary

Value
$1.5billion
Tonnes
2.6million tonnes
Share of world total
4.4%
World rank
3rd
Routes from the main sources. Width: value; color: estimated transport mode.SeaAirLand

Sources

The 6 main sources in the latest year.

PartnerValue (USD billions)TonnesUSD per tonneShareMode
United States1.3Tonnes: 2,339,577USD per tonne: $56891.4%Sea
Argentina0.09Tonnes: 170,483USD per tonne: $5136%Sea
Brazil0.02Tonnes: 44,254USD per tonne: $5041.5%Sea
China0.01Tonnes: 22,452USD per tonne: $5170.8%Sea
Taiwan< 0.01Tonnes: 3,739USD per tonne: $8090.21%Sea
India< 0.01Tonnes: 473USD per tonne: $8340.03%Sea

Trend

Who it buys from

The United States has been its main source since 2015

Value in USD billions. The five largest sources in 2024.

  • United States 1.3
  • Argentina 0.09
  • Brazil 0.02
  • China 0.01
  • Taiwan < 0.01

Source: CEPII BACI

Show the numbers
Partner19952024
United States0.121.3
Argentina< 0.010.09
Brazil0.010.02
China0.010.01
Taiwan0< 0.01

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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