Soya Bean Market - The U.S. Remains the Global Leader in Soya Bean Exports

Other Non-Perennial Crops September 09, 2015
Author: Svetlana Sitkova
Head of Industrial Research Department

soya bean market

The U.S. dominates in the global soya bean trade. In 2014, the U.S. exported 49,553 thousand tonnes of soya beans totaling 23,855 million USD, 11% over the previous year. Its primary trading partner on the global soya bean market was China, where it supplied 61% of its total soya bean exports in value terms, accounting for 36% of China's total imports.

From 2007 to 2014, the U.S. was a net exporter of soya beans. Over this period, exports consistently exceeded imports in value terms. In physical terms this difference was more pronounced, with the lone exception of 2008 when high export price made it less notable.

Brazil and distantly Argentina were among the other main global suppliers of soya beans in 2014. However, the fastest growing exporters from 2007 to 2014 were India (+103% per year) and Uruguay (+34% per year).

In addition to China, the U.S.'s top 4 trading partners were Mexico, Indonesia, Japan and Germany, with a combined 79% share of U.S. soya bean exports. The share of China increased significantly (+20 percentage points), while the share of Japan illustrated negative dynamics (-7 percentage points).

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Source: World: Soya Beans - Market Report. Analysis And Forecast To 2020