Price for Soya Beans; Other than Seed, Whether or Not Broken in the United States - 2023
Contents:
- Price for Soya Beans; Other than Seed, Whether or Not Broken in the United States (FOB) - 2023
- Price for Soya Beans; Other than Seed, Whether or Not Broken in the United States (CIF) - 2023
- Exports of Soya Beans; Other than Seed, Whether or Not Broken in the United States
- Imports of Soya Beans; Other than Seed, Whether or Not Broken in the United States
Price for Soya Beans; Other than Seed, Whether or Not Broken in the United States (FOB) - 2023
The average export price for soya beans; other than seed, whether or not brokens stood at $570 per ton in September 2023, shrinking by -3.5% against the previous month. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in February 2023 when the average export price increased by 2.1% m-o-m. As a result, the export price reached the peak level of $623 per ton. From March 2023 to September 2023, the the average export prices remained at a somewhat lower figure.
Average prices varied noticeably for the major foreign markets. In September 2023, the highest price was recorded for prices to Taiwan (Chinese) ($639 per ton) and Indonesia ($614 per ton), while the average price for exports to the UK ($516 per ton) and Egypt ($549 per ton) were amongst the lowest.
From December 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+0.6%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Soya Beans; Other than Seed, Whether or Not Broken in the United States (CIF) - 2023
The average import price for soya beans; other than seed, whether or not brokens stood at $733 per ton in September 2023, growing by 12% against the previous month. Overall, the import price, however, saw a perceptible shrinkage. The import price peaked at $1,049 per ton in March 2023; however, from April 2023 to September 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Canada ($1,154 per ton), while the price for Ghana ($653 per ton) was amongst the lowest.
From December 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Canada (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Soya Beans; Other than Seed, Whether or Not Broken in the United States
In 2022, approx. 57M tons of soya beans; other than seed, whether or not brokens were exported from the United States; picking up by 7.6% compared with the previous year. The total export volume increased at an average annual rate of +3.0% 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 22% against the previous year. As a result, the exports reached the peak of 64M tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of soya beans; other than seed, whether or not brokens skyrocketed to $34.4B in 2022. Overall, total exports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +22.6% 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 +84.2% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 37% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.
| Export of Soya Beans; Other than Seed, Whether or Not Broken in the United States (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 8.0 | 14.1 | 14.1 | 17.9 | 30.8% |
| Mexico | 1.9 | 1.9 | 2.6 | 3.6 | 23.7% |
| Egypt | 1.0 | 1.5 | 1.4 | 1.9 | 23.9% |
| Japan | 1.0 | 1.1 | 1.4 | 1.8 | 21.6% |
| Indonesia | 0.9 | 0.9 | 1.1 | 1.2 | 10.1% |
| Taiwan (Chinese) | 0.7 | 0.6 | 0.7 | 1.1 | 16.3% |
| Netherlands | 0.8 | 0.5 | 0.4 | 0.9 | 4.0% |
| Germany | 0.1 | 0.6 | 0.9 | 0.9 | 108.0% |
| Bangladesh | 0.4 | 0.5 | 0.4 | 0.4 | 0.0% |
| Spain | 0.5 | 0.4 | 0.5 | 0.4 | -7.2% |
| Thailand | 0.5 | 0.6 | 0.5 | 0.2 | -26.3% |
| Others | 2.9 | 3.0 | 3.4 | 3.8 | 9.4% |
| Total | 18.7 | 25.5 | 27.4 | 34.4 | 22.5% |
Top Export Markets for Soya Beans; Other than Seed, Whether or Not Broken from the United States in 2022:
- China (30.3M tons)
- Mexico (5.9M tons)
- Egypt (3.1M tons)
- Japan (2.8M tons)
- Indonesia (2.0M tons)
- Taiwan (Chinese) (1.8M tons)
- Netherlands (1.5M tons)
- Germany (1.5M tons)
- Spain (0.7M tons)
- Bangladesh (0.6M tons)
- Thailand (0.4M tons)
Imports of Soya Beans; Other than Seed, Whether or Not Broken in the United States
After three years of growth, purchases abroad of soya beans; other than seed, whether or not brokens decreased by -14.3% to 463K tons in 2022. The total import volume increased at an average annual rate of +6.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 39%. As a result, imports attained the peak of 541K tons, and then dropped in the following year.
In value terms, imports of soya beans; other than seed, whether or not brokens skyrocketed to $455M in 2022. Overall, imports, however, posted significant growth. The pace of growth was the most pronounced in 2021 when imports increased by 65%. Imports peaked in 2022 and are likely to continue growth in the immediate term.
| Import of Soya Beans; Other than Seed, Whether or Not Broken in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Argentina | 55.6 | 39.3 | 66.6 | 117 | 28.1% |
| Canada | 62.6 | 68.5 | 98.8 | 108 | 19.9% |
| Ukraine | 23.8 | 33.7 | 44.0 | 55.7 | 32.8% |
| Turkey | 0.3 | N/A | 4.1 | 55.6 | 470.1% |
| Togo | 0.1 | 6.0 | 4.2 | 43.7 | 658.9% |
| Russia | 12.5 | 38.2 | 20.9 | 33.7 | 39.2% |
| Ghana | N/A | N/A | 6.9 | 13.3 | 92.8% |
| India | 63.4 | 25.3 | 12.5 | 11.3 | -43.7% |
| Others | 19.1 | 12.5 | 110 | 16.6 | -4.6% |
| Total | 237 | 224 | 368 | 455 | 24.3% |
Top Suppliers of Soya Beans; Other than Seed, Whether or Not Broken to the United States in 2022:
- Canada (128.0K tons)
- Argentina (122.3K tons)
- Ukraine (55.4K tons)
- Turkey (50.0K tons)
- Togo (36.1K tons)
- Russia (32.2K tons)
- Ghana (14.4K tons)
- India (11.4K tons)
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