Global Soybean Import Share by Country (Thousand Metric Tons)

The global soybean import landscape is dominated by China, responsible for over 60% of global imports in thousand metric tons as of 2023. While China increased its import share by nearly 4% year-on-year, other notable shifts include a strong rise in imports by Brazil and India. In contrast, countries like Canada and Pakistan experienced significant declines. Across a five-year span, some of the most consistent growth has been observed in Algeria and Morocco, whereas Nigeria's imports have contracted. Overall, the compound annual growth rates reveal varied dynamics with some emerging markets gaining traction.

Looking forward, several trends could shape the soybean import market. China’s substantial demand is expected to remain a key driver, while a rise in imports by countries like Brazil and India suggests a shift in regional consumption patterns. The volatility in imports seen in smaller nations, coupled with geopolitical factors, could lead to considerable fluctuations. Additionally, shifts in agricultural technology and trade policies may influence future import shares across regions. Observing these elements will be crucial for stakeholders aiming to adapt effectively to the evolving market landscape.