In 2023, Brazil led global soybean exports with 97.5 million metric tons, experiencing a 5.42% year-on-year increase. The United States followed with 47.76 million metric tons, recording a minimal growth of 0.018%. Paraguay and Argentina exported 6.0 and 4.6 million metric tons, with year-on-year changes of 4.13% and -12.76%, respectively. Canada saw a slight decrease of 2.78% to 4.55 million metric tons. Notable growth was seen in countries like South Africa, increasing by 118.67%, and Benin, which jumped by 40.69%. Conversely, India faced a significant decline of 21.24%.
Future trends to watch include the continuous expansion in Brazilian exports due to improved agricultural practices and infrastructure, potentially heightened geopolitical tensions affecting the United States' export dynamics, and increasing contributions from smaller exporters like Bolivia and Serbia as they ramp up production capabilities. Additionally, climatic changes and trade policies may critically influence these trends in the coming years.
Top countries in Soybean Export by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Brazil | 97,500 | 2023 | +2.08% | +5.42% | View data |
| 2 | 2 United States | 47,760 | 2023 | -11.89% | +0.018% | View data |
| 3 | 3 Paraguay | 6,000 | 2023 | +3.45% | +4.13% | View data |
| 4 | 4 Argentina | 4,600 | 2023 | +9.92% | -12.76% | View data |
| 5 | 5 Canada | 4,550 | 2023 | +7.31% | -2.78% | View data |
| 6 | 6 Ukraine | 2,900 | 2023 | -6.36% | +2.76% | View data |
| 7 | 7 Uruguay | 2,400 | 2023 | +209.68% | -4.15% | View data |
| 8 | 8 Russia | 900 | 2023 | -37.93% | +2.46% | View data |
| 9 | 9 South Africa | 350 | 2023 | -22.22% | +118.67% | View data |
| 10 | 10 Serbia | 225 | 2023 | +2150% | +9.49% | View data |
