Global Soya Bean Market Overview 2021

Soya Bean Market Size

After two years of decline, the global soya bean market increased by X% to $X in 2020. Overall, the total consumption indicated a pronounced increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption decreased by -X% against 2017 indices. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Global consumption peaked at $X in 2014; however, from 2015 to 2020, consumption remained at a lower figure.

Soya Bean Production

In value terms, soya bean production expanded remarkably to $X in 2020 estimated in export prices. Over the period under review, the total production indicated a perceptible expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 when the production volume increased by X% year-to-year. Over the period under review, global production reached the maximum level at $X in 2014; however, from 2015 to 2020, production remained at a lower figure.

The countries with the highest volumes of soya bean production in 2020 were Brazil (X tonnes), the U.S. (X tonnes) and Argentina (X tonnes), together accounting for X% of global production. These countries were followed by China, India, Paraguay and Canada, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of soya bean production, amongst the key producing countries, was attained by Canada, while soya bean production for the other global leaders experienced more modest paces of growth.

The global average soya bean yield amounted to X tonnes per ha in 2020, remaining constant against 2019 figures. The yield figure increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2010 with an increase of X% year-to-year. The global yield peaked at X tonnes per ha in 2017; however, from 2018 to 2020, 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.

The global soya bean harvested area stood at X ha in 2020, surging by X% compared with 2019. The harvested area increased at an average annual rate of +X% from 2007 to 2020; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2008 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to soya bean production attained the maximum at X ha in 2017; however, from 2018 to 2020, the harvested area stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of soya bean production in 2020 were Brazil (X tonnes), the U.S. (X tonnes) and Argentina (X tonnes), together accounting for X% of global production. These countries were followed by China, India, Paraguay and Canada, which together accounted for a further X 2007 to 2020, the biggest increases were in Canada, while soya bean production for the other global leaders experienced more modest paces of growth.

Soya Bean Exports

Exports

Global soya bean exports rose rapidly to X tonnes in 2020, with an increase of X% against the year before. Overall, exports continue to indicate prominent growth. The pace of growth was the most pronounced in 2010 with an increase of X% year-to-year. Over the period under review, global exports attained the peak figure in 2020 and are expected to retain growth in years to come.

In value terms, soya bean exports skyrocketed to $X in 2020. In general, total exports indicated buoyant growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 when exports increased by X% against the previous year. Over the period under review, global exports hit record highs in 2020 and are expected to retain growth in the near future.

Exports by Country

Brazil (X tonnes) and the U.S. (X tonnes) dominates soya bean exports structure, together creating X% of total exports. It was distantly followed by Argentina (X tonnes), mixing up a X% share of total exports. The following exporters - Paraguay (X tonnes) and Canada (X tonnes) - each amounted to a X% share of total exports.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Brazil, while exports for the other global leaders experienced more modest paces of growth.

In value terms, the largest soya bean supplying countries worldwide were Brazil ($X), the U.S. ($X) and Argentina ($X), together comprising X% of global exports.

In terms of the main exporting countries, Brazil saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average soya bean export price amounted to $X per tonne, surging by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 when the average export price increased by X% y-o-y. Global export price peaked at $X per tonne in 2012; however, from 2013 to 2020, export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2020, major exporting countries recorded the following prices: in Canada ($X per tonne) and Argentina ($X per tonne), while Paraguay ($X per tonne) and Brazil ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the U.S., while the other global leaders experienced more modest paces of growth.

Soya Bean Imports

Imports

In 2020, the amount of soya beans imported worldwide rose slightly to X tonnes, growing by X% on the previous year. In general, total imports indicated a prominent increase from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2007 indices. The most prominent rate of growth was recorded in 2010 when imports increased by X% year-to-year. Over the period under review, global imports reached the peak figure in 2020 and are expected to retain growth in the immediate term.

In value terms, soya bean imports rose to $X in 2020. Overall, total imports indicated a strong increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports decreased by -X% against 2018 indices. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. Global imports peaked at $X in 2014; however, from 2015 to 2020, imports remained at a lower figure.

Imports by Country

China dominates soya bean imports structure, resulting at X tonnes, which was near X% of total imports in 2020. The Netherlands (X tonnes), Mexico (X tonnes), Egypt (X tonnes), Germany (X tonnes), Spain (X tonnes), Japan (X tonnes), Turkey (X tonnes) and Indonesia (X tonnes) held a minor share of total imports.

Imports into China increased at an average annual rate of +X% from 2007 to 2020. At the same time, Egypt (+X%), Turkey (+X%), Indonesia (+X%), Mexico (+X%) and Spain (+X%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2007-2020. The Netherlands and Germany experienced a relatively flat trend pattern. By contrast, Japan (-X%) illustrated a downward trend over the same period. China (+X p.p.) significantly strengthened its position in terms of the global imports, while Spain, Mexico, Germany, the Netherlands and Japan saw its share reduced by -X%, -X%, -X%, -X% and -X% from 2007 to 2020, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported soya beans worldwide, comprising X% of global imports. The second position in the ranking was occupied by the Netherlands ($X), with a X% share of global imports. It was followed by Egypt, with a X% share.

From 2007 to 2020, the average annual growth rate of value in China totaled +X%. The remaining importing countries recorded the following average annual rates of imports growth: the Netherlands (+X% per year) and Egypt (+X% per year).

Import Prices by Country

In 2020, the average soya bean import price amounted to $X per tonne, approximately mirroring the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% year-to-year. Global import price peaked at $X per tonne in 2012; however, from 2013 to 2020, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2020, major importing countries recorded the following prices: in Japan ($X per tonne) and Germany ($X per tonne), while Mexico ($X per tonne) and Egypt ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Germany, while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform