US soybean oil 2024/25 net sales surged in the week to October 31, reaching 114,300 tonnes — the highest weekly sales level in more than five years, according to figures from the USDA on Thursday November 7. This was up from sales of 10,400 tonnes in the week to October 24,
The largest buyer of soyoil from the US was India (30,000 tonnes), followed by Colombia (16,700 tonnes) and the Dominican Republic (14,800 tonnes, including cancellations of 900 tonnes).
For the first time in more than two years, the USDA reported a flash sale of soybean oil to India on November 1.
Market sources told Fastmarkets that India, the world’s largest importer of edible oils, had recently picked up the pace of its soybean oil purchases, not only from the US but from Russia — but mostly from South America.
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