Soybean Imports by Country: A Global Overview
Soybeans are one of the most important crops in the world, used for food, feed, oil, and biofuel production. The global soybean market is dominated by a few major producers and exporters, such as Brazil, the United States, and Argentina, and a few major importers, such as China, the European Union, and Mexico. This article will provide a brief overview of the soybean import trends by country, based on the latest available data from various sources.
China: The World’s Largest Soybean Importer
China is by far the largest importer of soybeans in the world, accounting for about 60% of the global soybean imports in 2021. China imported about 96 million metric tons of soybeans in 2021, mainly from Brazil (56%), the United States (29%), and Argentina (7%). China’s soybean imports have increased significantly in the past two decades, driven by the growing demand for animal feed and edible oil. China’s domestic soybean production is insufficient to meet its consumption needs, and therefore it relies heavily on imports. China’s soybean imports are expected to continue to grow in the future, as its population, income, and meat consumption increase.
European Union: The Second Largest Soybean Importer
The European Union is the second largest importer of soybeans in the world, importing about 15.8 million metric tons of soybeans in 2021. The main sources of soybeans for the EU are Brazil (47%), the United States (35%), and Canada (9%). The EU’s soybean imports have fluctuated over the years, depending on the availability and prices of domestic and imported soybeans. The EU uses most of its imported soybeans for animal feed production, especially for poultry and pigs. The EU also imports large amounts of soybean meal, mainly from Argentina, Brazil, and Paraguay.
Mexico: The Third Largest Soybean Importer
Mexico is the third largest importer of soybeans in the world, importing about 6.4 million metric tons of soybeans in 2021. The main supplier of soybeans for Mexico is the United States (82%), followed by Brazil (10%), and Paraguay (4%). Mexico’s soybean imports have increased steadily over the years, as its domestic production has not kept up with its growing demand for animal feed and edible oil. Mexico also imports significant amounts of soybean meal and oil, mainly from the United States.
Other Major Soybean Importers
Other major importers of soybeans in the world include Argentina, Spain, Egypt, Thailand, Japan, Indonesia, Vietnam, and the Philippines. These countries import varying amounts of soybeans from different sources, depending on their domestic production, consumption, and trade policies. Some of these countries also import large quantities of soybean meal and oil, which are derived from crushing soybeans.
Soybean Imports by Country: A Statistical Analysis
Soybeans are one of the most important crops in the world, providing oil and protein for human and animal consumption. The global trade of soybeans is influenced by various factors, such as production, consumption, prices, policies, and environmental issues. In this blog post, we will analyze the trends and patterns of soybean imports by country, using data from various sources.
Top Soybean Importers in 2021
According to external trade statistics of 135 countries, the world imports of soybeans exceeded $86 billion in 2021 . China was by far the largest importer of soybeans, accounting for more than half of the global imports, with a value of $44.2 billion . China’s demand for soybeans is driven by its large population, growing livestock sector, and expanding biodiesel industry. China mainly imports soybeans from Brazil, the United States, and Argentina.
The second-largest importer of soybeans was Mexico, with a value of $3.22 billion . Mexico’s imports of soybeans increased by 13% from 2020 to 2021, due to higher domestic consumption and lower domestic production . Mexico mainly imports soybeans from the United States, Canada, and Brazil.
The third-largest importer of soybeans was Argentina, with a value of $2.26 billion . Argentina’s imports of soybeans surged by 138% from 2020 to 2021, due to lower domestic production and higher domestic demand for crushing . Argentina mainly imports soybeans from Paraguay, Brazil, and the United States.
Other major importers of soybeans in 2021 were Spain ($2.25 billion), Egypt ($2.01 billion), Thailand ($1.97 billion), Japan ($1.88 billion), Indonesia ($1.86 billion), the European Union ($1.81 billion), and Turkey ($1.64 billion) .
Trends and Patterns of Soybean Imports by Country
The global trade of soybeans has been growing steadily over the years, reaching a record high of 164.32 million metric tons in 2021/22 . The main drivers of this growth are the increasing demand for animal feed, vegetable oil, and biodiesel in developing countries, especially in Asia.
As we can see from the chart, China has been the dominant importer of soybeans in the past five years, followed by Mexico and Argentina. However, China’s share of global soybean imports has declined slightly from 64% in 2017 to 59% in 2021, due to trade tensions with the United States, African swine fever outbreak, and diversification of suppliers .
On the other hand, Mexico’s share of global soybean imports has increased from 3% in 2017 to 5% in 2021, due to higher domestic consumption and lower domestic production . Argentina’s share of global soybean imports has also increased from 1% in 2017 to 4% in 2021, due to lower domestic production and higher domestic demand for crushing .
Some other countries that have increased their share of global soybean imports are Egypt (from 2% to 3%), Thailand (from 2% to 3%), Japan (from 2% to 3%), Indonesia (from 2% to 3%), Turkey (from 1% to 3%), and Pakistan (from 0% to 2%) .
Soybeans are a vital commodity in the global food system, providing oil and protein for human and animal consumption. The global trade of soybeans is influenced by various factors, such as production, consumption, prices, policies, and environmental issues. In this blog post, we have analyzed the trends and patterns of soybean imports by country, using data from various sources.
We have found that China is the largest importer of soybeans in the world, followed by Mexico and Argentina. However, China’s share of global soybean imports has declined slightly in recent years, due to trade tensions with the United States, African swine fever outbreak, and diversification of suppliers. On the other hand, Mexico’s and Argentina’s share of global soybean imports has increased significantly in recent years, due to higher domestic consumption and lower domestic production.
Other countries that have increased their share of global soybean imports are Egypt, Thailand, Japan, Indonesia, Turkey, and Pakistan. These countries have shown a growing demand for animal feed, vegetable oil, and biodiesel, driven by population growth, income growth, urbanization, and industrialization.
The global trade of soybeans is expected to continue to grow in the future, as the demand for oil and protein products increases in developing countries, especially in Asia. However, the trade of soybeans may also face some challenges, such as climate change, land use change, water scarcity, pests and diseases, trade barriers, and social and environmental concerns.
References:
http://faostat.fao.org/Portals/_Faostat/documents/pdf/FAOSTAT-Forestry-def-e.pdf
https://www.fao.org/faostat/en/#data/FO/visualize
https://www.fao.org/faostat/en/#data/QCL/visualize
https://trendeconomy.com/data/commodity_h2/1201
https://oec.world/en/profile/hs/soybeans
https://www.fas.usda.gov/data/mexico-grain-and-feed-annual-7
https://www.fas.usda.gov/data/argentina-oilseeds-and-products-annual-6
https://www.statista.com/statistics/612422/soybeans-import-volume-worldwide-by-country/
https://www.iisd.org/system/files/2020-10/ssi-global-market-report-soybean.pdf
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