Australia and Oceania: Soya Bean Market 2024

Soya Bean Market Size in Australia and Oceania

After two years of growth, the soya bean market in Australia and Oceania decreased by X% to $X in 2022. Overall, consumption showed a abrupt shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Soya Bean Production in Australia and Oceania

In value terms, soya bean production expanded markedly to $X in 2022 estimated in export price. Over the period under review, production faced a deep downturn. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Australia (X tons) constituted the country with the largest volume of soya bean production, comprising approx. X% of total volume.

In Australia, soya bean production decreased by an average annual rate of X% over the period from 2012-2022.

The average soya bean yield amounted to X tons per ha in 2022, approximately mirroring 2021 figures. In general, the yield, however, recorded a pronounced decrease. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of yield peaked at X tons per ha in 2012; however, from 2013 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the soya bean harvested area in Australia and Oceania fell markedly to X ha, which is down by X% compared with the previous year. In general, the harvested area saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2013; however, from 2014 to 2022, the harvested area failed to regain momentum.

Soya Bean Exports

Exports in Australia and Oceania

In 2022, shipments abroad of soya beans increased by X% to X tons, rising for the second consecutive year after four years of decline. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, soya bean exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

The biggest shipments were from Australia (X tons), together finishing at X% of total export.

Australia was also the fastest-growing in terms of the soya beans exports, with a CAGR of X% from 2012 to 2022. Australia (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) also remains the largest soya bean supplier in Australia and Oceania.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia amounted to X%.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price, however, continues to indicate a perceptible decrease. The pace of growth was the most pronounced in 2020 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Australia.

From 2012 to 2022, the rate of growth in terms of prices for Australia amounted to X% per year.

Soya Bean Imports

Imports in Australia and Oceania

In 2022, purchases abroad of soya beans decreased by X% to X tons, falling for the second year in a row after six years of growth. Overall, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, soya bean imports contracted to $X in 2022. In general, imports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Australia (X tons) and New Zealand (X tons) dominates imports structure, together constituting X% of total imports. It was distantly followed by New Caledonia (X tons), achieving a X% share of total imports. Papua New Guinea (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for New Caledonia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), New Zealand ($X) and New Caledonia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

New Caledonia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 Australia and Oceania stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2014; afterwards, it flattened through to 2022.

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 Australia ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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