Global Soya Bean Market 2022

Soya Bean Market Size

In 2021, the global soya bean market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Global consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Soya Bean Production

In value terms, soya bean production contracted modestly to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, global production hit record highs at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

The countries with the highest volumes of in 2021 were Brazil (X tons), the United States (X tons) and Argentina (X tons), together comprising X% of global production. China, India, Paraguay and Canada lagged somewhat behind, together comprising a further X 2012 to 2021, the biggest increases were in Paraguay (with a CAGR of +X%), while production for the other global leaders experienced more modest paces of growth.

In 2021, the global average soya bean yield shrank to X tons per ha, waning by -X% against 2020. The yield figure increased at an average annual rate of +X% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the yield increased by X% against the previous year. Over the period under review, the average soya bean yield hit record highs at X tons per ha in 2017; however, from 2018 to 2021, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the global soya bean harvested area rose modestly to X ha, surging by X% against 2020 figures. The harvested area increased at an average annual rate of +X% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to soya bean production reached the maximum in 2021 and is expected to retain growth in years to come.

Soya Bean Exports

Exports

Global soya bean exports fell to X tons in 2021, dropping by -X% on the previous year's figure. Overall, total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2012 indices. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the global exports reached the peak figure at X tons in 2020, and then contracted in the following year.

In value terms, soya bean exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil represented the main exporter of soya beans in the world, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2021. It was distantly followed by the United States (X tons), generating a X% share of total exports. Paraguay (X tons), Canada (X tons) and Argentina (X tons) held a little share of total exports.

From 2012 to 2021, the biggest increases were in Brazil (with a CAGR of +X%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest soya bean supplying countries worldwide were Brazil ($X), the United States ($X) and Paraguay ($X), together accounting for X% of global exports.

Among the main exporting countries, Brazil, with a CAGR of +X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average soya bean export price amounted to $X per ton, growing by X% against the previous year. Overall, the export price, however, continues to indicate a mild decrease. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Canada ($X per ton) and Argentina ($X per ton), while Brazil ($X per ton) and Paraguay ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+X%), while the other global leaders experienced a decline in the export price figures.

Soya Bean Imports

Imports

In 2021, supplies from abroad of soya beans decreased by -X% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2017 indices. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, global imports hit record highs at X tons in 2020, and then fell slightly in the following year.

In value terms, soya bean imports soared to $X in 2021. The total import value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China prevails in imports structure, accounting for X tons, which was near X% of total imports in 2021. Mexico (X tons), Argentina (X tons), the Netherlands (X tons), Thailand (X tons), Egypt (X tons), Spain (X tons), Germany (X tons), Japan (X tons), Taiwan (Chinese) (X tons), Turkey (X tons), Indonesia (X tons) and Pakistan (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to soya bean imports into China stood at +X%. At the same time, Pakistan (+X%), Mexico (+X%), Turkey (+X%), Egypt (+X%), Argentina (+X%), Thailand (+X%), the Netherlands (+X%), Indonesia (+X%), Japan (+X%), Taiwan (Chinese) (+X%) and Spain (+X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2012-2021. Germany experienced a relatively flat trend pattern. From 2012 to 2021, the share of Mexico increased by +X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported soya beans worldwide, comprising X% of global imports. The second position in the ranking was taken by Argentina ($X), with a X% share of global imports. It was followed by Mexico, with a X% share.

In China, soya bean imports increased at an average annual rate of +X% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Argentina (+X% per year) and Mexico (+X% per year).

Import Prices by Country

The average soya bean import price stood at $X per ton in 2021, jumping by X% against the previous year. Overall, the import price, however, continues to indicate a mild curtailment. Global import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+X%), while the other global leaders experienced a decline in the import price figures.

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