Eastern Asia: Soya Bean Market 2022

Soya Bean Market Size in Eastern Asia

In 2021, the East Asian soya bean market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Soya Bean Production in Eastern Asia

In value terms, soya bean production fell to $X in 2021 estimated in export prices. The total production indicated a notable expansion from 2012 to 2021: its value 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, production increased by +X% against 2016 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X, and then fell in the following year.

China (X tonnes) constituted the country with the largest volume of soya bean production, accounting for X% of total volume.

In China, soya bean production increased at an average annual rate of +X% over the period from 2012-2021.

The average soya bean yield shrank to X tonnes per ha in 2021, which is down by -X% against 2020 figures. In general, the yield, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the yield increased by X% year-to-year. The level of yield peaked at X tonnes per ha in 2020, and then reduced modestly 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.

In 2021, the soya bean harvested area in Eastern Asia amounted to X ha, approximately reflecting 2020. The harvested area increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% y-o-y. Over the period under review, the harvested area dedicated to soya bean production attained the maximum in 2021 and is likely to see steady growth in the near future.

Production By Country in Eastern Asia

The country with the largest volume of soya bean production was China (X tonnes), comprising approx. X% of total volume.

From 2012 to 2021, the average annual rate of growth in terms of volume in China stood at +X%.

Soya Bean Exports

Exports in Eastern Asia

In 2021, overseas shipments of soya beans were finally on the rise to reach X tonnes for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, faced a abrupt slump. The pace of growth was the most pronounced in 2018 with an increase of X% y-o-y. Over the period under review, the exports hit record highs at X tonnes in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, soya bean exports skyrocketed to $X in 2021. In general, exports, however, saw a deep reduction. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China prevails in soya bean exports structure, resulting at X tonnes, which was approx. X% of total exports in 2021. It was distantly followed by Hong Kong SAR (X tonnes), committing a X% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to soya bean exports from China stood at -X%. Hong Kong SAR (-X%) illustrated a downward trend over the same period. While the share of Hong Kong SAR (+X p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest soya bean supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was occupied by Hong Kong SAR ($X), with a X% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China totaled -X%.

Export Prices by Country

The soya bean export price in Eastern Asia stood at $X per tonne in 2021, surging by X% against the previous year. Export price indicated moderate growth from 2012 to 2021: its price 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, soya bean export price increased by +X% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of origin: the country with the highest price was China ($X per tonne), while Hong Kong SAR stood at $X per tonne.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+X%).

Soya Bean Imports

Imports in Eastern Asia

After two years of growth, overseas purchases of soya beans decreased by -X% to X tonnes in 2021. Total imports indicated a resilient 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 growth pace was the most rapid in 2015 with an increase of X% year-to-year. The volume of import peaked at X tonnes in 2020, and then declined in the following year.

In value terms, soya bean imports skyrocketed to $X in 2021. The total import 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 in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China prevails in soya bean imports structure, amounting to X tonnes, which was approx. X% of total imports in 2021. The following importers - Japan (X tonnes) and Taiwan (Chinese) (X tonnes) - each finished at a X% share of total imports.

China was also the fastest-growing in terms of the soya beans imports, with a CAGR of +X% from 2012 to 2021. At the same time, Japan (+X%) and Taiwan (Chinese) (+X%) displayed positive paces of growth. China (+X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

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: Japan (+X% per year) and Taiwan (Chinese) (-X% per year).

Import Prices by Country

In 2021, the soya bean import price in Eastern Asia amounted to $X per tonne, growing by X% against the previous year. In general, the import price, however, recorded a mild decrease. The level of import peaked at $X per tonne in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Japan ($X per tonne), while Taiwan (Chinese) ($X per tonne) was amongst the lowest.

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

Source: IndexBox Platform