Asia-Pacific: Soya Bean Market 2024

Soya Bean Market Size in Asia-Pacific

For the fourth consecutive year, the Asia-Pacific soya bean market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level in 2022 and is likely to see steady growth in the near future.

Soya Bean Production in Asia-Pacific

In value terms, soya bean production stood at $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were China (X tons) and India (X tons).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%).

The average soya bean yield reduced slightly to X tons per ha in 2022, remaining stable against 2021 figures. In general, the yield showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the soya bean yield attained the maximum level at X tons per ha in 2019; however, from 2020 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of soya beans production in Asia-Pacific reached X ha, picking up by X% on the year before. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2021 to 2022, the growth of the soya bean harvested area remained at a lower figure.

Soya Bean Exports

Exports in Asia-Pacific

In 2022, shipments abroad of soya beans was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. In general, exports, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, soya bean exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a noticeable shrinkage. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

China represented the largest exporter of soya beans in Asia-Pacific, with the volume of exports recording X tons, which was near X% of total exports in 2022. India (X tons) took the second position in the ranking, distantly followed by Australia (X tons) and Indonesia (X tons). All these countries together took approx. X% share of total exports. The following exporters - Malaysia (X tons) and Vietnam (X tons) - together made up X% of total exports.

Exports from China decreased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%), Australia (X%), Indonesia (X%) and India (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%) illustrated a downward trend over the same period. While the share of India (X p.p.), Australia (X p.p.), Indonesia (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (X p.p.) and China (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest soya bean supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%. In the other countries, the average annual rates were as follows: India (X% per year) and Australia (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, rising by X% against the previous year. Export price indicated a tangible expansion from 2012 to 2022: its price 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 export price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

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 China ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

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

Soya Bean Imports

Imports in Asia-Pacific

In 2022, purchases abroad of soya beans decreased by X% to X tons, falling for the second year in a row after two years of growth. Total imports indicated a tangible increase from 2012 to 2022: its volume 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, imports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, soya bean imports expanded markedly to $X in 2022. Total imports indicated resilient growth 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. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

China dominates imports structure, recording X tons, which was near X% of total imports in 2022. Taiwan (Chinese) (X tons), Japan (X tons), Thailand (X tons), Indonesia (X tons), Bangladesh (X tons) and Vietnam (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to soya bean imports into China stood at X%. At the same time, Bangladesh (X%), Taiwan (Chinese) (X%), Thailand (X%), Vietnam (X%), Japan (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Bangladesh increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported soya beans in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

In China, soya bean imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, surging by X% against the previous year. Overall, the import price showed slight growth. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :