Southern Asia: Soya Bean Market 2024

Soya Bean Market Size in Southern Asia

The South Asian soya bean market dropped to $X in 2022, declining by X% against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2021, and then dropped in the following year.

Soya Bean Production in Southern Asia

In value terms, soya bean production declined slightly to $X in 2022 estimated in export price. Over the period under review, production saw a pronounced shrinkage. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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

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

In 2022, the average soya bean yield in Southern Asia dropped to X kg per ha, waning by X% compared with 2021 figures. In general, the yield recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2016 when the yield increased by X%. Over the period under review, the soya bean yield attained the maximum level at X tons per ha in 2012; however, from 2013 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 harvested area of soya beans in Southern Asia was estimated at X ha, remaining relatively unchanged against the year before. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the harvested area increased by X%. 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 somewhat lower figure.

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Soya Bean Exports

Exports in Southern Asia

In 2022, overseas shipments of soya beans were finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports posted a modest expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, soya bean exports soared to $X in 2022. In general, exports enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of soya beans, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the soya beans exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest soya bean supplier in Southern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at X%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, with an increase of X% against the previous year. Export price indicated a noticeable increase 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 2017 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

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

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

Soya Bean Imports

Imports in Southern Asia

In 2022, after five years of growth, there was significant decline in supplies from abroad of soya beans, when their volume decreased by X% to X tons. In general, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then declined dramatically in the following year.

In value terms, soya bean imports declined significantly to $X in 2022. Overall, imports, however, saw a significant expansion. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then contracted dramatically in the following year.

Imports by Country

Bangladesh (X tons) and Pakistan (X tons) represented roughly X% of total imports in 2022. It was distantly followed by India (X tons), constituting an X% share of total imports. Nepal (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Pakistan (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 Southern Asia were Pakistan ($X), Bangladesh ($X) and India ($X), together accounting for X% of total imports.

Pakistan, with a CAGR of X%, saw 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 Southern Asia stood at $X per ton in 2022, standing approx. at the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 India ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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