Northern America: Soya Bean Market 2024

Soya Bean Market Size in Northern America

In 2022, the North American soya bean market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. The total consumption indicated a modest increase 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, consumption increased by X% against 2019 indices. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Soya Bean Production in Northern America

In value terms, soya bean production expanded remarkably to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

The United States (X tons) constituted the country with the largest volume of soya bean production, comprising approx. X% of total volume. Moreover, soya bean production in the United States exceeded the figures recorded by the second-largest producer, Canada (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in the United States amounted to X%.

In 2022, the average yield of soya beans in Northern America contracted slightly to X tons per ha, stabilizing at 2021 figures. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the soya bean yield hit record highs at X tons per ha in 2016; however, from 2017 to 2022, the yield stood 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.

In 2022, the total area harvested in terms of soya beans production in Northern America declined modestly to X ha, dropping by X% compared with 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 consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2018 to 2022, the growth of the soya bean harvested area remained at a lower figure.

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Soya Bean Exports

Exports in Northern America

In 2022, the amount of soya beans exported in Northern America rose markedly to X tons, increasing by X% against the previous year's figure. The total export volume 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. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, soya bean exports surged to $X in 2022. Total exports indicated a measured increase 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, exports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2020 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 near future.

Exports by Country

The United States dominates exports structure, finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Canada (X tons), achieving a X% share of total exports.

The United States was also the fastest-growing in terms of the soya beans exports, with a CAGR of X% from 2012 to 2022. At the same time, Canada (X%) displayed positive paces of growth. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest soya bean supplier in Northern America, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports.

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

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Soya Bean Imports

Imports in Northern America

In 2022, the amount of soya beans imported in Northern America declined slightly to X tons, with a decrease of X% compared with the year before. In general, imports, however, continue to indicate a notable increase. The pace of growth appeared the most rapid in 2013 when imports increased by X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, soya bean imports soared to $X in 2022. Over the period under review, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Canada (X tons) and the United States (X tons) was the main importer of soya beans in Northern America, mixing up X% of total import.

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

In value terms, the United States ($X) and Canada ($X) were the countries with the highest levels of imports in 2022.

In terms of the main importing countries, Canada, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, increasing by X% against the previous year. Import price indicated notable 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 import price increased by X% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Source: IndexBox Platform

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