Key Market Indicators
Russian soybean consumption is expected to remain at 20 thousand metric tons through 2026, with no change in the average rate since 2017. In 2021, Russia was the 27th largest consumer of soybeans, with Tunisia narrowly ahead at 20 thousand metric tons. Vietnam, Japan and Pakistan took the top three spots in the global consumer rankings. Meanwhile, production of Russian soybeans is expected to reach 5.9 million metric tons by 2026, up from 4.8 million metric tons in 2021. Since 1997, production has increased by 8.7% annually. In 2021, Russia was the 8th largest producer of soybeans, with Canada overtaking at 4.8 million metric tons. The United States, Argentina and China ranked second, third and fourth, respectively.
