As of 2023, Brazil and the United States significantly dominate the global soybean export market, with Brazil commanding a 57.94% share, and the United States with a 28.38% share. Brazil experienced a considerable increase of 5.42% in exports year-over-year, while the United States showed marginal growth. Notable increases were seen in countries like South Africa and Bolivia, with substantial export growth rates of 118.67% and 50.39% respectively. Conversely, Argentina and India experienced declined exports, with Argentina decreasing by 12.76%.
Looking ahead, the shift towards sustainability and climate change impacts, alongside geopolitical tensions, could reshape the geopolitical dynamics of global soybean exports. Monitoring Brazil's expansive growth and the United States' strategies to maintain its share will be essential for future analysis.
Top countries in Soybean Export Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Brazil | 57.94 | 2023 | +2.08% | +5.42% | View data |
| 2 | 2 United States | 28.38 | 2023 | -11.89% | +0.018% | View data |
| 3 | 3 Paraguay | 3.57 | 2023 | +3.45% | +4.13% | View data |
| 4 | 4 Argentina | 2.73 | 2023 | +9.92% | -12.76% | View data |
| 5 | 5 Canada | 2.7 | 2023 | +7.31% | -2.78% | View data |
| 6 | 6 Ukraine | 1.72 | 2023 | -6.36% | +2.76% | View data |
| 7 | 7 Uruguay | 1.43 | 2023 | +209.68% | -4.15% | View data |
| 8 | 8 Russia | 0.53 | 2023 | -37.93% | +2.46% | View data |
| 9 | 9 South Africa | 0.21 | 2023 | -22.22% | +118.67% | View data |
| 10 | 10 Serbia | 0.13 | 2023 | +2150% | +9.49% | View data |
