The world benchmark for soybean meal was USD 453.0/t in October 2026 (about EUR 404.4), 1.3% higher than the month before and 27.2% higher than a year earlier.
World benchmark
453.0USD/t
October 2026 · ≈ EUR 404.4
1 month
+1.3%
vs Sep 2026
12 months
+27.2%
vs Oct 2025
Brazil export price (FOB)
417.9USD/t
October 2026 · +27.8% in 12 months
World benchmark: Soybean meal with 48% protein, Rotterdam (US origin since January 2025; Brazilian pellets, CIF Rotterdam, before that). Brazil export average: soybean meal and other solid residues of soybean oil extraction, export value divided by net weight, FOB. Monthly averages per tonne. Euro values use the ECB monthly average rate.
So far in 2026 the benchmark has averaged USD 415.4/t, 16.1% higher than in the same months of 2025. Brazil shipped 25.5 million tonnes of soybean meal and other solid residues of soybean oil extraction in the 12 months to October 2026, 9.9% more than in the 12 months before. The largest destinations in January to October 2026 were Indonesia (16%), Thailand (12%) and Iran (10%).
Official export statistics for soybean meal and other solid residues of soybean oil extraction (HS 2304.00).
Shipments are spread fairly evenly through the year; the three busiest months (May, June and July) carry about 29%. Average share of each year's export weight, 2021 to 2025.
| Destination | Share | Tonnes | USD/t |
|---|---|---|---|
| Indonesia | 16% | 3,451,852 | 362.7 |
| Thailand | 12% | 2,586,107 | 369.4 |
| Iran | 10% | 2,184,211 | 354.4 |
| Netherlands | 8.8% | 1,921,009 | 366.5 |
| France | 7.4% | 1,610,475 | 370.0 |
| Poland | 7.1% | 1,556,136 | 354.4 |
| Spain | 6.7% | 1,460,091 | 361.6 |
| South Korea | 5% | 1,085,008 | 355.5 |
| Other countries | 27% | 5,979,671 | – |
Share of export weight, January to October 2026. 58 destination countries in total.
Calendar-year averages. The Brazil export average is weighted by the volume shipped.
| Year | Benchmark average, USD/t | Brazil export average, USD/t | Brazil exports, tonnes |
|---|---|---|---|
| 2026to Oct 2026 | 415.4 | 369.3 | 21,834,560 |
| 2025 | 365.7 | 339.6 | 23,269,248 |
| 2024 | 442.3 | 418.8 | 23,133,802 |
| 2023 | 541.5 | 511.6 | 22,473,503 |
| 2022 | 547.8 | 507.8 | 20,352,880 |
| 2021 | 480.9 | 428.2 | 17,149,126 |
| 2020 | 394.2 | 348.9 | 16,937,917 |
| 2019 | 347.1 | 351.0 | 16,681,652 |
| 2018 | 405.2 | 397.4 | 16,672,040 |
| 2017 | 350.3 | 350.8 | 14,177,057 |
| Month | Benchmark, USD/t | ≈ EUR/t | Brazil export, USD/t | Brazil exports, tonnes |
|---|---|---|---|---|
| Oct 2026 | 453.0 | 404.4 | 417.9 | 2,357,316 |
| Sep 2026 | 447.0 | 388.2 | 378.8 | 2,264,916 |
| Aug 2026 | 406.0 | 350.2 | 365.2 | 2,231,761 |
| Jul 2026 | 410.0 | 359.1 | 368.7 | 2,323,572 |
| Jun 2026 | 419.0 | 363.8 | 363.5 | 2,497,356 |
| May 2026 | 422.0 | 361.5 | 373.6 | 2,512,501 |
| Apr 2026 | 416.0 | 355.4 | 363.2 | 2,336,306 |
| Mar 2026 | 404.0 | 349.5 | 347.1 | 1,810,859 |
| Feb 2026 | 391.0 | 330.7 | 347.5 | 1,702,397 |
| Jan 2026 | 386.0 | 328.8 | 352.6 | 1,797,578 |
| Dec 2025 | 399.0 | 340.8 | 350.6 | 1,990,304 |
| Nov 2025 | 411.0 | 355.5 | 322.0 | 1,704,772 |
| Oct 2025 | 356.0 | 306.1 | 327.1 | 2,147,327 |
| Sep 2025 | 358.0 | 305.1 | 316.1 | 2,071,273 |
| Aug 2025 | 354.0 | 304.3 | 331.6 | 1,904,428 |
| Jul 2025 | 335.0 | 286.9 | 337.1 | 2,055,318 |
| Jun 2025 | 353.0 | 306.5 | 335.0 | 1,840,903 |
| May 2025 | 358.0 | 317.4 | 348.4 | 2,269,987 |
| Apr 2025 | 369.0 | 329.1 | 353.8 | 2,124,255 |
| Mar 2025 | 369.0 | 341.5 | 344.5 | 1,854,092 |
| Feb 2025 | 358.0 | 343.8 | 358.5 | 1,655,566 |
| Jan 2025 | 368.0 | 355.4 | 353.3 | 1,651,023 |
| Dec 2024 | 376.0 | 358.8 | 389.9 | 1,980,035 |
| Nov 2024 | 385.0 | 362.2 | 390.2 | 1,679,338 |
Soybean meal with 48% protein, Rotterdam (US origin since January 2025; Brazilian pellets, CIF Rotterdam, before that). Monthly average in US dollars, published by the World Bank. The definition of a benchmark can change over the years; the World Bank lists every change in its data file.
Official export statistics for soybean meal and other solid residues of soybean oil extraction (HS 2304.00). The price is the export value divided by the net weight, at the Brazilian port (FOB). It is an average over all grades and destinations, not a quotation. Months with less than 20 tonnes shipped are left blank.
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The world benchmark for soybean meal was USD 453.0/t in October 2026 (about EUR 404.4), 1.3% higher than the month before and 27.2% higher than a year earlier. Source: World Bank Commodity Price Data.
In October 2026 Brazil exported soybean meal and other solid residues of soybean oil extraction at an average of USD 417.9/t FOB (about EUR 373.1). That is the total export value divided by the total net weight, across all grades and destinations.
The benchmark is one defined grade at one delivery point. The Brazil export price is an average over every shipment in the month: different grades, contracts agreed weeks or months earlier, and the price at the Brazilian port before freight and insurance.
The world benchmark for soybean meal averaged USD 365.7/t in 2025. Brazil's average export price that year was USD 339.6/t FOB.
In January to October 2026 the largest destinations by weight were Indonesia (16%), Thailand (12%), Iran (10%), the Netherlands (8.8%) and France (7.4%). Brazil shipped to 58 countries in that period.
All year. On average from 2021 to 2025, the three busiest months (May, June and July) carried about 29% of each year's shipments, close to an even spread.
Once a month, after the World Bank and Brazil's trade statistics publish the previous month's figures, normally in the first half of the month.
Today we supply Brazil nut kernels from stock in Rotterdam. We work with Brazilian producers and are adding new products. Tell us the product, the volume and the destination and we will tell you what we can do.
Benchmark prices: World Bank Commodity Price Data (The Pink Sheet), release of 3 November 2026, licensed under CC BY 4.0. Percentage changes, averages and euro conversions are our calculations.
Brazil export figures: Comex Stat, the official trade statistics of Brazil's Ministry of Development, Industry, Trade and Services, data to October 2026. The average export price is our calculation (export value divided by net weight) and covers all grades and destinations.
Exchange rate: ECB euro reference rates, monthly average.
Figures are monthly averages for information only. They are not offers, quotations or advice, and none of the institutions named here endorses this page. Page updated on .