The global soybean meal export market in 2023 was dominated by Argentina, Brazil, and the United States, accounting for the majority of the global exports. Noteworthy trends over the past year include significant growth in Russia (16.42%), Vietnam (16.47%), and Nigeria (82.06%), while India experienced a substantial decline of 22.78%. The five-year CAGR indicates a mixed performance across countries, with some showing steady growth and others facing declines.
As we look to the future, watch for:
- The potential increase in exports from countries experiencing rapid growth like Nigeria and Vietnam.
- The impact of agricultural policies and environmental factors on major exporters like Argentina and Brazil.
- The evolution of China’s export capacity and its role in the global market.
- Geopolitical and economic shifts that may affect trade dynamics.
Top countries in Soybean Meal Export by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Argentina | 23,400 | 2023 | +12.77% | -4.09% | View data |
| 2 | 2 Brazil | 22,000 | 2023 | +3.01% | +6.45% | View data |
| 3 | 3 United States | 13,880 | 2023 | +4.34% | +2.71% | View data |
| 4 | 4 Paraguay | 2,000 | 2023 | +17.65% | -3.02% | View data |
| 5 | 5 Bolivia | 1,700 | 2023 | -2.86% | +0.75% | View data |
| 6 | 6 China | 1,000 | 2023 | +25.79% | +1.42% | View data |
| 7 | 7 Ukraine | 900 | 2023 | +66.67% | +2.98% | View data |
| 8 | 8 Russia | 800 | 2023 | +6.67% | +16.42% | View data |
| 9 | 9 India | 600 | 2023 | -67.12% | -22.78% | View data |
| 10 | 10 Canada | 350 | 2023 | -7.65% | -3.81% | View data |
