Key Market Indicators
Japanese consumption of soybeans is forecast to reach 1.05 million metric tons by 2026, up from 1.02 million metric tons in 2021. This is a 0.4% annual growth rate since 2017. Japan is currently in third place globally, overtaken by Vietnam in 2021, who reported 1.02 million metric tons. Vietnam, Japan, and Pakistan occupy the second, third, and fourth spots respectively. Japanese production of soybeans is expected to decline by 0.3% annually to reach 214,070 metric tons by 2026 from 217,810 metric tons in 2021. Since 1966, production has been in decline at a rate of 1.8% annually. Japan currently sits in 25th place globally, with North Korea ahead at 217,810 metric tons. The United States, Argentina, and China occupy the second, third, and fourth spots respectively.