Global Soybeans Export Volume by Country

In 2024, Brazil remains the dominant exporter of soybeans with 92.46 million metric tons, marking a slight year-on-year growth of 2.03%. The United States follows at a distant second with 48.56 million metric tons, also showing growth at 0.89%. Paraguay, Canada, and Ukraine see modest increases in their export volumes, reflecting upward trends of 1.56%, 1.7%, and 3.67%, respectively. Conversely, Argentina and Uruguay experience declines, with Argentina's export volume decreasing by 1.09% and Uruguay by 1.8%. Notable upward trends are observed in Romania (9.52%), Nigeria (15.2%), and Zambia (21.06%). Despite the overall growth, certain countries like China (-3.68%) and Moldova (-31.23%) face significant declines.

Future trends to watch:

• Emerging exporters like Romania and Nigeria could gain a larger share in the market, given their recent growth momentum.
• Brazil and the United States will likely continue to dominate global exports but should watch for competitive shifts, especially from smaller but rapidly growing exporters.
• Geopolitical and climatic conditions could significantly impact export volumes from Ukraine and Argentina.
• Policy changes in major importing countries, particularly China, could affect global soybean trade dynamics.