Price for Soya Beans; Other than Seed, Whether or Not Broken in Canada - 2024
Contents:
- Price for Soya Beans; Other than Seed, Whether or Not Broken in Canada (FOB) - 2024
- Price for Soya Beans; Other than Seed, Whether or Not Broken in Canada (CIF) - 2024
- Exports of Soya Beans; Other than Seed, Whether or Not Broken in Canada
- Imports of Soya Beans; Other than Seed, Whether or Not Broken in Canada
Price for Soya Beans; Other than Seed, Whether or Not Broken in Canada (FOB) - 2024
The average export price for soya beans; other than seed, whether or not brokens stood at $805 per ton in September 2023, surging by 7.1% against the previous month. Over the last eight-month period, it increased at an average monthly rate of +3.0%. The pace of growth was the most pronounced in February 2023 an increase of 12% m-o-m. Over the period under review, the average export prices hit record highs in September 2023.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($1,097 per ton), while the average price for exports to China ($614 per ton) was amongst the lowest.
From January 2023 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+0.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Soya Beans; Other than Seed, Whether or Not Broken in Canada (CIF) - 2024
In September 2023, the average import price for soya beans; other than seed, whether or not brokens amounted to $667 per ton, growing by 18% against the previous month. Over the period from January 2023 to September 2023, it increased at an average monthly rate of +2.1%. The most prominent rate of growth was recorded in February 2023 an increase of 27% month-to-month. As a result, import price attained the peak level of $716 per ton. From March 2023 to September 2023, the average import prices remained at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In September 2023, the country with the highest price was Ghana ($747 per ton), while the price for the United States ($640 per ton) was amongst the lowest.
From January 2023 to September 2023, the most notable rate of growth in terms of prices was attained by the United States (+2.9%), while the prices for the other major suppliers experienced a decline.
Exports of Soya Beans; Other than Seed, Whether or Not Broken in Canada
After three years of growth, overseas shipments of soya beans; other than seed, whether or not brokens decreased by -4.4% to 4.3M tons in 2022. The total export volume increased at an average annual rate of +2.6% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 11%.
In value terms, exports of soya beans; other than seed, whether or not brokens amounted to $2.7B in 2022. Overall, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +21.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.6% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 27% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Soya Beans; Other than Seed, Whether or Not Broken in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 25.0 | 206 | 344 | 680 | 200.7% |
| Iran | 236 | 303 | 310 | 269 | 4.5% |
| Japan | 176 | 175 | 169 | 263 | 14.3% |
| Italy | 136 | 122 | 135 | 250 | 22.5% |
| Indonesia | 63.1 | 88.0 | 161 | 173 | 40.0% |
| Algeria | 23.9 | 104 | 138 | 159 | 88.1% |
| United States | 72.4 | 74.2 | 102 | 127 | 20.6% |
| Belgium | 94.1 | 99.9 | 93.4 | 109 | 5.0% |
| Netherlands | 90.4 | 112 | 94.8 | 74.3 | -6.3% |
| Spain | 48.9 | 62.8 | 59.2 | 62.6 | 8.6% |
| Vietnam | 45.0 | 47.2 | 54.3 | 58.3 | 9.0% |
| Portugal | 24.4 | 30.6 | 10.6 | 54.5 | 30.7% |
| Egypt | N/A | 15.5 | 74.3 | 53.4 | 85.6% |
| Others | 471 | 457 | 670 | 359 | -8.7% |
| Total | 1,507 | 1,898 | 2,415 | 2,691 | 21.3% |
Top Export Markets for Soya Beans; Other than Seed, Whether or Not Broken from Canada in 2022:
- China (1116.4K tons)
- Iran (476.7K tons)
- Italy (434.0K tons)
- Japan (338.9K tons)
- Algeria (278.3K tons)
- Indonesia (275.0K tons)
- Belgium (165.1K tons)
- United States (141.5K tons)
- Netherlands (127.0K tons)
- Spain (111.2K tons)
- Egypt (96.5K tons)
- Portugal (96.3K tons)
- Vietnam (84.8K tons)
Imports of Soya Beans; Other than Seed, Whether or Not Broken in Canada
In 2022, the amount of soya beans; other than seed, whether or not brokens imported into Canada rose remarkably to 555K tons, with an increase of 15% against the previous year's figure. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 69% against the previous year.
In value terms, imports of soya beans; other than seed, whether or not brokens surged to $354M in 2022. Overall, imports saw a buoyant increase. The growth pace was the most rapid in 2021 when imports increased by 115% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.
| Import of Soya Beans; Other than Seed, Whether or Not Broken in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 177 | 90.7 | 198 | 215 | 6.7% |
| Togo | N/A | N/A | 9.2 | 66.1 | 618.5% |
| India | 22.2 | 16.7 | 3.2 | 34.3 | 15.6% |
| Turkey | N/A | N/A | 0.1 | 8.9 | 8800.0% |
| Others | 7.9 | 8.4 | 38.5 | 29.9 | 55.8% |
| Total | 207 | 116 | 249 | 354 | 19.6% |
Top Suppliers of Soya Beans; Other than Seed, Whether or Not Broken to Canada in 2022:
- United States (422.0K tons)
- Togo (52.9K tons)
- India (34.1K tons)
- Turkey (23.0K tons)
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This report provides an in-depth analysis of the soya bean market in Canada.
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This report provides an in-depth analysis of the global soya bean market.
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This report provides an in-depth analysis of the soya bean market in Canada.
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This report provides an in-depth analysis of the global soya bean market.
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