Brazil leads global soybean production with 40.71%, benefiting from a 6.23% increase in 2023. The U.S., despite a -1.39% decline, remains a significant producer with 28.07%. Argentina and China hold 11.99% and 5.12%, respectively, with China experiencing a 5.13% boost. Notably, Russia (9.01%) and South Africa (16.4%) showed strong growth. India, Paraguay, and others maintain lesser shares, with varied year-on-year changes. Countries like Mexico and Vietnam saw substantial declines, while Australia surged by 21.67%.
Looking ahead, increasing weather volatility and geopolitical tensions may impact production patterns. Technological advances and sustainability efforts could alter production efficiency and environmental impact in key regions like South America and Asia.
Top countries in Soybean Production Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Brazil | 40.71 | 2023 | +3.16% | +6.23% | View data |
| 2 | 2 United States | 28.07 | 2023 | -3.3% | -1.39% | View data |
| 3 | 3 Argentina | 11.99 | 2023 | +92% | -2.79% | View data |
| 4 | 4 China | 5.12 | 2023 | +1.08% | +5.13% | View data |
| 5 | 5 India | 2.75 | 2023 | -11.37% | +0.13% | View data |
| 6 | 6 Paraguay | 2.5 | 2023 | +10.5% | +2.49% | View data |
| 7 | 7 Canada | 1.67 | 2023 | +2.4% | -2.01% | View data |
| 8 | 8 Russia | 1.55 | 2023 | +3.4% | +9.01% | View data |
| 9 | 9 Ukraine | 1.3 | 2023 | +26.83% | +1.48% | View data |
| 10 | 10 Bolivia | 0.82 | 2023 | +3.13% | +1.99% | View data |
