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The current elections in Iran have increased the possibility of warming relations with the United States. If improved relations translate into more open trade, the U.S. could benefit from the large demand for soybeans and products in Iran.
Current forecasts make Iran the world's largest soybean oil importer in the current (1999/2000) marketing year. Iran is set to import 875,000 tons of soybean oil this year, overtaking China, which is forecast to import 750,000 tons of soybean oil.
Iran is unusual in that it has a strong preference for soybean oil. Iran imports 100,000 tons of palm oil annually, and has reduced imports of sunflower seed oil in favor of soybean oil. Most Iranian soybean oil imports come from Brazil and Argentina.
Although secondary to its edible oil imports, Iran has shown steady growth in its soybeans and meal trade. The country has constructed new oilseed crushing facilities and has increased soybean imports from 15,000 tons in 1997/98 to a forecast 300,000 tons this year. Most recent Iranian soybean imports have come from Canada, which exported over 155,000 tons to Iran in 1999. Meal imports peaked at 570,000 tons in 1997/98, but will fall to an estimated 425,000 tons this marketing year due to the increase in soybeans imports.
Images:
Largest Importers of Soybean Oil
Iran's Edible Oil Imports
Iran's Imports of Soybeans and Meal
For more information, contact the author, Erich Kuss, of the Cotton, Oilseeds, Tobacco and Seeds Division, Foreign Agricultural Service on (202) 690-2581.
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