Key Market Indicators
South African soybean consumption is expected to reach 225,000 metric tons by 2026, up 3% year-on-year from 2021's 188,000 metric tons. Since 2017, the demand for soybeans in the country has increased by 0.7% annually. In 2021, South Africa ranked ninth in the world, with Taiwan taking the lead with 188,000 metric tons. Vietnam, Japan and Pakistan followed in second, third and fourth place, respectively. Meanwhile, South African soybean production is forecast to reach 1,618,600 metric tons by 2026, growing at an average of 2.6% year-on-year from 2021's 1,387,600 metric tons. Since 1966, the country's supply of soybeans has increased by 13.3% year-on-year. In 2021, South Africa ranked twelfth in the world, with Uruguay ahead of it with 1,387,600 metric tons. The United States, Argentina and China came in second, third and fourth place, respectively.
