Trade Trends
Global soya bean exports totaled $54.87B in 2019. By 2023, the figure climbed to $92.29B, followed by a decline to $77.52B in 2024. This reflects a 68.2% increase between 2019 and 2023, a 41.3% increase between 2019 and 2024, and a 16% drop from 2023 to 2024. All values are expressed in USD. The surge through 2023 signals strong global demand, driven by feedstock needs and oil extraction industries. The contraction in 2024 may reflect weather-related supply constraints, trade policy shifts, or inventory corrections in key importing regions. Despite the dip, the five-year trend remains positive, with several exporters consolidating their positions and others emerging with accelerated growth.
Top Trading Countries
The five leading soya bean exporters in 2024 were: -Brazil exported $42.93B in 2024 and $26.07B in 2019, showing a 64.7% increase. Brazil retained its top position.
- United States reached $24.50B in 2024 and $18.66B in 2019, up 31.3%. The United States remained second.
- Paraguay recorded $3.17B in 2024 and $1.58B in 2019, a 101.2% increase. Paraguay rose to third place.
- Canada moved $2.45B in 2024 and $1.51B in 2019, up 62.9%. Canada ranked fourth.
- Argentina exported $1.80B in 2024 and $3.39B in 2019, a 46.9% decrease. Argentina dropped to fifth. Paraguay and Canada overtook Argentina in the 2024 ranking due to stronger growth trajectories.
On the Rise
Several smaller countries showed consistent growth in soya bean exports between 2019 and 2024:
- South Africa expanded from $2.90M in 2019 to $69.12M in 2024, marking a 2,284% increase.
- Bolivia increased from $4.62M to $81.11M, up 1,656%.
- Poland grew from $12.22M to $66.34M, a 443% rise.
- Austria moved from $40.14M to $86.11M, up 114.5%.
- Croatia rose from $80.20M to $117.23M, a 46.2% increase. These countries, while not among the top five, demonstrated relevant and sustained export expansion.
Disclaimer
These insights are based on available trade data and may not represent the full market reality.
