Key Market Indicators
Canada's demand for soybean is projected to increase by 500 metric tons in the next five years, keeping at the same rate since 2017. Last year, Canada ranked 18th in the world with 44,000 metric tons of demand. Peru ranked ahead with 44,000 metric tons, while Vietnam, Japan, and Pakistan came in second, third, and fourth, respectively. Canadian soybean production is anticipated to rise by 577,200 metric tons in the next five years, increasing at an average rate of 1.5% year on year since 1966. In 2021, Canada ranked seventh in the world with 6,864,200 metric tons of supply. Paraguay ranked ahead with the same amount, while the US, Argentina, and China came in second, third, and fourth, respectively.