SADC: Soya Bean Market 2024

Soya Bean Market Size in SADC

After two years of growth, the SADC soya bean market decreased by X% to $X in 2022. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021, and then contracted in the following year.

Soya Bean Production in SADC

In value terms, soya bean production expanded rapidly to $X in 2022 estimated in export price. In general, production, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

South Africa (X tons) remains the largest soya bean producing country in SADC, comprising approx. X% of total volume. Moreover, soya bean production in South Africa exceeded the figures recorded by the second-largest producer, Zambia (X tons), fourfold. Malawi (X tons) ranked third in terms of total production with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in South Africa stood at X%. In the other countries, the average annual rates were as follows: Zambia (X% per year) and Malawi (X% per year).

In 2022, the average soya bean yield in SADC shrank to X tons per ha, waning by X% on 2021 figures. The yield figure increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the yield increased by X%. The level of yield peaked at X tons per ha in 2021, and then declined in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The soya bean harvested area contracted to X ha in 2022, reducing by X% against the previous year's figure. The total harvested area indicated a prominent increase from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, soya bean harvested area increased by X% against 2018 indices. The pace of growth was the most pronounced in 2015 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to soya bean production reached the maximum at X ha in 2021, and then dropped in the following year.

Soya Bean Exports

Exports in SADC

For the third consecutive year, SADC recorded growth in overseas shipments of soya beans, which increased by X% to X tons in 2022. In general, exports saw a resilient increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, soya bean exports surged to $X in 2022. Over the period under review, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the near future.

Exports by Country

South Africa represented the largest exporting country with an export of around X tons, which resulted at X% of total exports. Mozambique (X tons) ranks second in terms of the total exports with a X% share, followed by Tanzania (X%) and Malawi (X%). Zambia (X tons) followed a long way behind the leaders.

Exports from South Africa increased at an average annual rate of X% from 2012 to 2022. At the same time, Tanzania (X%), Mozambique (X%), Malawi (X%) and Zambia (X%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing exporter exported in SADC, with a CAGR of X% from 2012-2022. Mozambique (X p.p.), Tanzania (X p.p.), Malawi (X p.p.) and Zambia (X p.p.) significantly strengthened its position in terms of the total exports, while South Africa saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, South Africa ($X) remains the largest soya bean supplier in SADC, comprising X% of total exports. The second position in the ranking was taken by Tanzania ($X), with a X% share of total exports. It was followed by Malawi, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Tanzania (X% per year) and Malawi (X% per year).

Export Prices by Country

In 2022, the export price in SADC amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the other leaders experienced more modest paces of growth.

Soya Bean Imports

Imports in SADC

In 2022, after three years of growth, there was significant decline in purchases abroad of soya beans, when their volume decreased by X% to X tons. Overall, imports, however, recorded significant growth. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, soya bean imports declined sharply to $X in 2022. Over the period under review, imports, however, posted resilient growth. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Mozambique was the key importer of soya beans in SADC, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. It was distantly followed by Zimbabwe (X tons), Tanzania (X tons) and South Africa (X tons), together comprising a X% share of total imports. Botswana (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Zimbabwe (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest soya bean importing markets in SADC were Mozambique ($X), Zimbabwe ($X) and South Africa ($X), together comprising X% of total imports.

Among the main importing countries, Zimbabwe, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in SADC stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price, however, continues to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mozambique ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Botswana (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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