EU: Soya Bean Market 2024

Soya Bean Market Size in the EU

For the third consecutive year, the EU 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 throughout the analyzed period. The level of consumption peaked in 2022 and is likely to see steady growth in the near future.

Soya Bean Production in the EU

In value terms, soya bean production shrank modestly to $X in 2022 estimated in export price. The total production indicated strong 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Italy (X tons) constituted the country with the largest volume of soya bean production, comprising approx. X% of total volume. Moreover, soya bean production in Italy exceeded the figures recorded by the second-largest producer, France (X tons), twofold. Romania (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Italy stood at X%. The remaining producing countries recorded the following average annual rates of production growth: France (X% per year) and Romania (X% per year).

In 2022, the average yield of soya beans in the European Union shrank modestly to X tons per ha, almost unchanged from the previous year. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the yield increased by X%. As a result, the yield attained the peak level of X tons per ha. From 2015 to 2022, the growth of the soya bean yield remained 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.

The soya bean harvested area contracted modestly to X ha in 2022, approximately reflecting 2021 figures. The total harvested area indicated a resilient increase from 2012 to 2022: its figure 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 harvested area increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of X%. The level of harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area failed to regain momentum.

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Soya Bean Exports

Exports in the EU

In 2022, approx. X tons of soya beans were exported in the European Union; increasing by X% compared with the previous year. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, soya bean exports expanded remarkably to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The Netherlands was the key exporting country with an export of around X tons, which amounted to X% of total exports. Romania (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by Croatia (X%), Belgium (X%), Hungary (X%), France (X%) and Slovakia (X%). Poland (X tons) held a minor share of total exports.

Exports from the Netherlands decreased at an average annual rate of X% from 2012 to 2022. At the same time, Poland (X%), France (X%), Croatia (X%), Hungary (X%), Slovakia (X%) and Romania (X%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2022. By contrast, Belgium (X%) illustrated a downward trend over the same period. Croatia (X p.p.), Romania (X p.p.), France (X p.p.), Poland (X p.p.), Hungary (X p.p.) and Slovakia (X p.p.) significantly strengthened its position in terms of the total exports, while the Netherlands saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest soya bean supplier in the European Union, comprising X% of total exports. The second position in the ranking was taken by Romania ($X), with an X% share of total exports. It was followed by Croatia, with a X% share.

In the Netherlands, soya bean exports contracted by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Romania (X% per year) and Croatia (X% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, growing by X% against the previous year. Export price indicated slight growth 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 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in France ($X per ton) and Belgium ($X per ton), while Slovakia ($X per ton) and Hungary ($X per ton) were amongst the lowest.

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

Soya Bean Imports

Imports in the EU

In 2022, soya bean imports in the European Union reduced to X tons, waning by X% on the year before. The total import volume 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 throughout the analyzed period. The most prominent rate of growth was recorded in 2018 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 expanded remarkably to $X in 2022. Total imports indicated temperate 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 2017 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 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

The purchases of the four major importers of soya beans, namely the Netherlands, Germany, Spain and Italy, represented more than two-thirds of total import. It was distantly followed by Portugal (X tons), committing a X% share of total imports. Belgium (X tons) and France (X tons) followed a long way behind the leaders.

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

In value terms, the largest soya bean importing markets in the European Union were the Netherlands ($X), Germany ($X) and Spain ($X), with a combined X% share of total imports. Italy, Portugal, Belgium and France lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Italy, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, 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 the European Union stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price continues to indicate a mild expansion. 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 immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in France ($X per ton) and Belgium ($X per ton), while Portugal ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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