In 2023, Brazil led the global soybean supply with a share of 29.54%, followed by China (23.15%) and the United States (18.08%). Argentina and India also contributed significantly, with shares of 10.64% and 1.96% respectively. Notable trends include Brazil's robust 5.08% growth and China's 4.97% increase, while the United States and Argentina experienced declines of -1.93% and -3.66%, respectively. Other key movements involved Russia's 5.09% rise, Vietnam's substantial 7.51% gain, and South Africa's notable 11.27% growth. However, Lebanon, Pakistan, and Cuba showed marked decreases at -9.79%, -24.81%, and -17.71% respectively.
Future trends to watch include the continued growth of emerging suppliers like Vietnam and South Africa, as well as substantial increases expected from countries such as Algeria, Morocco, and the United Arab Emirates. Conversely, traditional suppliers like the United States and Argentina may face further declines or stabilization. Geopolitical and environmental factors will likely play significant roles in shaping these trends.
Top countries in Soybean Supply Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Brazil | 29.54 | 2023 | +6% | +5.08% | View data |
| 2 | 2 China | 23.15 | 2023 | +2.6% | +4.97% | View data |
| 3 | 3 United States | 18.08 | 2023 | -3.1% | -1.93% | View data |
| 4 | 4 Argentina | 10.64 | 2023 | +22.34% | -3.66% | View data |
| 5 | 5 India | 1.96 | 2023 | -10.44% | +2.65% | View data |
| 6 | 6 Paraguay | 1.54 | 2023 | +11.31% | +2.59% | View data |
| 7 | 7 Russia | 1.2 | 2023 | -0.74% | +5.09% | View data |
| 8 | 8 Canada | 1.18 | 2023 | +5.02% | -3.22% | View data |
| 9 | 9 Mexico | 1.02 | 2023 | -2.07% | +0.42% | View data |
| 10 | 10 Ukraine | 0.81 | 2023 | +6.98% | +2.01% | View data |
