Top Soybeans exporting countries are:
- United States
Top importers are:
Soybeans are the world’s 59th most traded product. In 2019, the top exporters of Soybeans were Brazil with 26.1 Billion Dollars, the United States with 19.1 Billion Dollars, Argentina with 3.47 Billion dollars, and Paraguay with 1.58 Billion Dollars, and Canada With 1.57 Billion Dollars. In 2019, the top importers of Soybeans were China with 32.1 Billion Dollars, Mexico with 2.09 Billion Dollars, the Netherlands with 1.6 Billion Dollars, Egypt with 1.44 Billion Dollars, and Japan with 1.41 Billion Dollars.
Between 2018 and 2019, the fastest growing importers of Soybeans were Bangladesh with 258 Million Dollars, Mexico with 149 Million Dollars, Egypt with 117 Million Dollars, Thailand with 93.5 Million Dollars, and Spain with 55.5 Million Dollars.
In 2019, the countries that had the largest trade value in imports than in exports of Soybeans were China with 32 Billion Dollars, Mexico with 2.09 Billion Dollars, Egypt with 44 Billion Dollars, Japan with 1.41 Billion Dollars, and Spain with 1.37 Billion Dollars.
In 2018, the average tariff for importing Soybeans was 4.09 percent. The countries with the highest tariffs for importing Soybeans were South Korea with 469 percent, Thailand with 77.3 percent, Venezuela with 38.4 percent, the Bahamas with 31.2 percent, and India with 25.5 percent.
Soya Beans Top Exporting Countries
Global sales from soya beans exported by the country totaled 64.5 billion dollars in 2020.
Overall, the value of soya beans exports rose by an average of 22.7 percent for all exporting countries since 2016 when soya beans shipments were valued at 52.5 billion dollars.
From 2019 to 2020, the value of globally exported soya beans increased by 16.6 percent.
The top 5 exporters which are made up of Brazil, the United States, Argentina, Paraguay, and Canada sold 94.4 percent of worldwide shipments of soya beans by value in 2020.
From a continental perspective, Latin America 52.5 percent of the global total excluding Mexico but including the Caribbean sold the highest dollar worth of exported soya beans with shipments valued at 33.8 billion. dollars In second place were North American exporters at 43.1 percent.
Tinier percentages for international sales of soya beans came from Europe valued at 3.5 percent, Africa with 0.6 percent, Asia with 0.3 percent, and Oceania with 0.001 percent mostly Australia.
Among the top exporters, the fastest-growing soya beans exporters from 2019 to 2020 were: Benin up by 6,210 percent, Togo up by 650.5 percent, Serbia up by 51.2 percent, and Russia up by 49.3 percent.
The soybean or soya bean is a species of legume native to East Asia, widely grown for its edible bean, which has numerous uses. Traditional unfermented food uses of soybeans include soy milk, from which tofu and tofu skin are made. It is widely grown for its edible bean, which has numerous uses.
Traditional unfermented food uses of soybeans include soy milk, from which tofu and tofu skin are made. Fermented soy foods include soy sauce, fermented bean paste, nattō, and tempeh. Fat-free soybean meal is a significant and cheap source of protein for animal feeds and many packaged meals.
For example, soybean products, such as textured vegetable protein, are ingredients in many types of meat and dairy substitutes.
Soybeans contain significant amounts of phytic acid, dietary minerals, and B vitamins. Soy vegetable oil, used in food and industrial applications, is another product of processing the soybean crop. Soybean is the most important protein source for feeding farm animals in turn yields animal protein for human consumption.
The soybean is economically the most important bean in the world, providing vegetable protein for millions of people and ingredients for hundreds of chemical products.
The soybean market is projected to register a CAGR of 3.5 percent during the forecast period of 2021 to 2026. The supply chain disruptions due to the trade restrictions have impacted the market for soybean during the COVID 19 pandemic.
These factors have reduced the production of soybean by-products like a meal, oil, cake, etc which has been reflected in the market for soybean as well.
The United States, Brazil, Argentina, Canada, Paraguay, and Uruguay are the largest producers and exporters of soybean in the world, accounting for more than 85.0 percent of the global production. For many years, the United States was the world’s major producer and exporter of soybean.
However, in 2019, soybean production has increased dramatically in Brazil surpassing Brazil’s normal soybean production. The increased production of Soybean can be attributed to the favorable growing conditions augmented by the soil quality, weather conditions, and water availability. The market for soybean is driven by the increasing adoption of veganism in western countries owing to the popularity of plant-rich proteins in the diet. The increased health awareness among consumers due to the higher standard of living has also impacted the market affirmatively.
Top Soy Beans Producing Countries
USA: Produces an average of 108.0 Million Metric Tons annually. In the US, soybeans are the dominant oilseed, and account for 90 percent of the nation’s oilseed production, according to USDA. That is an agricultural commodity class that also includes canola or rapeseed, sunflower, and flax seeds, as all of these are produced into vegetable oils. The US accounts for 34 percent of the world’s soybean production.
At 42 percent market share, it’s also the largest exporter of raw soybeans according to Commodity Basis. There are around 34.4 million hectares devoted to the planting of soybeans in the US. Kentucky, Minnesota, Ohio, Pennsylvania, and Wisconsin are the states with the largest soybean plantations in average size. Meanwhile, Illinois, Iowa, Indiana, Minnesota, and Nebraska were the states producing the largest soybean yields. Unlike other soybean-producing countries, prices in the US are more significantly determined by increased bio-diesel demand, where soy oil is used to fuel combustion engines.
Annual production of soybeans in the three seasons leading up to 2014 to 2015 has ranged between 82.8 and 108 million metric tons. Planting of soybeans in much of the US starts in May or early June, and harvesting commences in late September to October.
Brazil: The Latin American nation produces an average of 86.8 Million Metric Tons of Soybeans annually. As the second-largest producer of soybeans worldwide, Brazil accounts for 30 percent of the global production of the crop. The country has over 29 million hectares of land available and used for farming soybean. In the 4 most recent growing seasons to 2014 to 2015, soybean production has been on a steady rise, according to USDA.
Annual production quantities in that time span have ranged from 66.5 to 94.5 million metric tons. In 2013, soybean exports earned the country 23 billion dollars according to MIT data. Soybeans grown in Brazil have higher protein levels than those grown in many other parts of the world, and thereby fetch higher prices in international markets, according to Commodity Basis. The country also produces a large quantity of non-genetically modified soybeans, which are also pricier than genetically modified ones.
Argentina produces an average of 53.4 Million Metric Tons annually. Argentina has farmlands of over 20.3 million hectares dedicated to growing soybeans. Buenos Aires, Cordoba, and Santa Fe are the states where soybeans are grown in the largest quantity according to Commodity Basis. The country accounts for 18 percent of the world’s soybean production.
Though Argentina exports only 7 percent of global raw soybean exports, it’s the biggest exporter of soybean oil and meal. In 2013, soybean meal was Argentina’s single largest export commodity, earning the country 10.7 billion dollars, according to MIT data. In the four most recent soybean seasons in Argentina to 2014 to 2015, annual production has been in the range of 40.1 to 56 million metric tons, according to the USDA.
China produces an average of 12.2 Million Metric Tons of the commodity annually. China accounts for 4 percent of soybean production in the world, according to Commodity Basis.
Much of the country’s soybeans are grown in the northern Heilongjiang Province, near the Russian border. According to the province’s Agriculture Commission, there are over 235 million hectares used as soybean farmland in the province. Still, China has to import large amounts of soybeans to meet the domestic demand. China accounts for 60 percent of worldwide soybean imports, according to Commodity Basis, making it the largest importer of soybeans, followed by the collective members of the European Union. Much of the prices in the world market for soybean are dictated by China’s demand.
For the last six planting seasons up from 2014 to 2015, annual production has ranged from 12.2 to over 15.08 million metric tons there, according to the USDA.
India is Asia’s second-largest producer of soybeans with an average of 10.5 Million Metric Tons annually, and it accounts for 3.95 percent of global production according to Statista. From the 2004 to 2005 season to the 2012 to 2013 season, there has been a compound annual growth rate of 9.6 percent for soybean production in the country, according to the Federation of Indian Chambers of Commerce and Industry.
Annual production for the 3 seasons up from 2014 to 2015 had ranged from 9.5 to 12.2 million metric tons annually. In India, the states of Maharashtra and Madhya Pradesh account for 89 percent of the country’s total production, according to FICCI. Most of the rest is produced in Rajasthan, Andhra Pradesh, Karnataka, Chhattisgarh, and Gujarat. In 2013, soybean meal exports alone earned the country 2.7 billion dollars. To keep up with increased demand, the country has embarked on efforts to raise soybean yields by introducing new technologies for cultivation.
With an average production of 10.0 Million Metric Tons annually, Paraguay accounts for 3 percent of worldwide soybean production according to a 2016 Commodity Basis report.
In recent seasons, soybean production has increased as more land is allocated for its cultivation in Paraguay. According to the USDA, in the past two decades land dedicated to soybean cultivation has increased steadily at an average rate of 6 percent annually.
Currently, there are over 3.1 million hectares of Paraguayan land where soy production is carried out. The USDA projects that, over the next 5 to 10 years, land for soybean production there will further grow to 4 million hectares. Soybeans from Paraguay are exported to the EU, Russia, Egypt, Turkey, Mexico, and Brazil, often first passing through Uruguay and Argentina. In 2013, according to MIT data, soybeans were the country’s top export, bringing in 2.41 billion dollars.
Canada is next with 6.0 Million Metric Tons annually on average. In Canada, annual soybean exports alone garner the nation over 1 billion dollars, according to Agriculture and Agri-Food Canada. In recent years, annual production has been on a steadily increasing trend. In 2014, over 6 million tons were harvested, which was itself an increase of 12.9 percent from 2013 totals according to Statistics Canada. In the same period, land for soya production had increased to 5.5 million hectares. 70 percent of soybeans produced in Canada are grown in the Quebec and Ontario provinces, and almost two-thirds of them are exported, either raw or processed, to Japan, the Netherlands, Southeast Asia, the U.S, Europe, and the Middle East, collectively, according to Soy Canada.
Bolivia follows with an average of 3.3 Million Metric Tons annually.
The soybean is the most treasured crop in Bolivia, and it is largely produced in the Santa Cruz region. According to the USDA, it accounts for 3 percent of the country’s Gross Domestic Product, and employs 45,000 workers directly, while generating 65,000 more jobs indirectly.
There are about 14,000 soybean producers in Bolivia. Depending on the agronomic practices applied and the soil and weather conditions, yields per hectare may range between 1.8 and 2.3 metric tons. In 2014, according to FAOSTAT, the country produced 3.2 million metric tons of soybeans. But, in 2015, according to the USDA, Bolivian soya production had dropped to 3.1 million metric tons. This was due to a drought that affected 12 percent of the 1 million hectares in the production region. In 2013, soybean was the number 3 export for Bolivia, earning the country 620 million dollars, according to MIT data.
With 3.9 Million Metric Tons, Ukraine is the largest producer of soybeans in Europe and the 8th largest in the world. Half of the soybeans produced in Ukraine are exported. Annual production has steadily been on the rise in recent years. During the 2014 to 2015 season, the country produced 3.9 million metric tons, an increase from the 2013 to 2014 season, when production was 2.774 million metric tons, according to Commodity Basis. Soybean plantations in Ukraine have also increased in recent years, due to a rise in export demands for the oilseed. In the year 2000, Ukrainian soybeans were cultivated on 65,000 hectares, but by 2015 that figure had reached about 2.1 million hectares, according to Ukraine Soybean Congress.
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In 2019, the top exporters of Soybeans were Brazil, the United States, Argentina, Paraguay, and Canada. The fastest-growing soya beans exporters from 2019 to 2020 were: Benin up by 6,210 percent, Togo up by 650.5 percent, Serbia up 51.2 percent, and Russia up 49.3 percent.
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