Key Market Indicators
Korean soybean consumption is expected to drop 2.6% year-on-year by 2026, falling to 230,000 metric tons from 266,000 metric tons in 2021. This follows a 2.8% decrease since 2017. In 2021, Indonesia led the way with 266,000 metric tons, while Vietnam, Japan, and Pakistan came in second, third, and fourth, respectively. Korean soybean production is set to decline 1.9% year-on-year to 84,000 metric tons by 2026, down from 94,000 metric tons in 2021. This follows a 4.6% increase since 1966. In 2021, Colombia came out on top with 94,000 metric tons, with the United States, Argentina, and China in second, third, and fourth place, respectively.
