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Export News
19-02-2025
In 2023, global soya bean exports, also known as soybeans, reached a total value of $93.5 billion.
The value of soya bean exports has seen a significant growth of 69.2% compared to 2019, when the exports were valued at $55.3 billion. However, in 2023, the overall growth of soya bean exports slowed slightly by -0.3% compared to the previous year.
The leading soya bean exporters in 2023 were Brazil, the United States, Paraguay, Canada, and Ukraine, collectively accounting for 94.8% of the total global export value.
From a regional perspective, Latin America, which excludes Mexico but includes the Caribbean, was the dominant player in global soya bean exports. It contributed 62.3% of the total, with shipments worth $58.3 billion. North America followed with 32.8%, led by the United States and Canada.
Other regions made up smaller shares of the global soya bean market, with Europe contributing 3.3%, Africa 1.3%, Asia 0.3%, and Oceania 0.01%, mainly from Australia.
The Harmonized Tariff System (HTS) code for soya beans is 1201.
Top 15 Soya Bean Exporting Countries in 2023
Here are the top 15 countries that exported the most soya beans by value in 2023:
1.Brazil: $53.2 billion (56.9% of total exports)
2.United States: $28 billion (30%)
3.Paraguay: $3.4 billion (3.7%)
4.Canada: $2.6 billion (2.8%)
5.Ukraine: $1.3 billion (1.4%)
6.Argentina: $948.8 million (1%)
7.Russia: $744.9 million (0.8%)
8.Uruguay: $413.8 million (0.4%)
9.South Africa: $389.1 million (0.4%)
10.Netherlands: $280.8 million (0.3%)
11.Nigeria: $249.9 million (0.3%)
12.Bolivia: $221.7 million (0.2%)
13.Ethiopia: $130.2 million (0.1%)
14.Croatia: $115 million (0.1%)
15.Hungary: $99.1 million (0.1%)
Together, these 15 countries accounted for 98.6% of the global soya bean exports in 2023.
Fastest Growing Exporters of Soya Beans
The fastest-growing soya bean exporters from 2022 to 2023 were:
· Nigeria: up 529.5%
· Ethiopia: up 191.1%
· Paraguay: up 179.1%
· South Africa: up 132.9%
On the other hand, the countries with the largest declines in exports were:
· Uruguay: down -78.5%
· Argentina: down -69.1%
· Bolivia: down -33.7%
· Netherlands: down -26.2%
· United States: down -18.8%
Key Exporting Companies for Soya Beans
Here are the top soya bean export companies, based on their contribution to the market in 2023:
1.Cargill Agropecuaria S.A.C.I – 5.03%, $137.39 million
2.Agrovera Ltd – 3.23%, $88.13 million
3.ADM Ukraine Ltd – 2.81%, $76.67 million
4.Acris Agro Group – 2.68%, $73.14 million
5.Agro Fond Ltd – 2.4%, $65.53 million
6.Cefgi Trading Ltd – 2.2%, $60 million
7.Agro Ukraine Ltd – 1.62%, $44.2 million
8.Prim Interservice LLC – 1.52%, $41.49 million
9.Beregivske HPP Ltd – 1.34%, $36.7 million
10.Compañía Paraguaya de Granos S.A – 1.31%, $35.83 million
These companies play a key role in the global export market for soya beans, contributing significantly to the overall sales.
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