Soybean
Soybeans or soya beans are a type of legume native to eastern Asia.They are an important component of Asian diets and have been consumed for thousands of years. Today, they are mainly grown in Asia and South and North America.In Asia, soybeans are often eaten whole, but heavily processed soy products are much more common in Western countries. Various soy products are available, including soy flour, soy protein, tofu, soy milk, soy sauce, and soybean oil.Soybeans contain antioxidants and phytonutrients that are linked to various health benefits. However, concerns have been raised about potential adverse effects.
TOP 10 DESTINATIONS FOR U.S. SOY EXPORTS
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Soybeans
| EXPORT MARKETS | 2014 RANK | VALUE (000) | QUANTITY (M/T) |
|---|---|---|---|
| China, Peoples Republic of | 1 | $14,797,924 | 31,342,306 |
| Mexico | 2 | 1,814,924 | 3,545,858 |
| Indonesia | 3 | 1,041,712 | 1,9987,434 |
| Japan | 4 | 995,199 | 1,811,011 |
| Taiwan | 5 | 729,240 | 1,462,149 |
| Germany | 6 | 550,047 | 1,082,696 |
| Spain | 7 | 511,279 | 1,123,454 |
| Netherlands | 8 | 429,134 | 1,014,950 |
| South Korea | 9 | 361,013 | 692,347 |
| Turkey | 10 | 345,229 | 766,779 |
| TOTAL EXPORT TOP TEN | $21,575,701 | 44,828,984 | |
| TOTAL EXPORT (ALL COUNTRIES) | $24,200,958 | 50,107,234 |
Table 1. World Soybean Production (2017/2018)
It is revealing to chart the world production of soybeans. The second chart shows the total world production versus use level. As one can see the world growth of soybeans has been impressive; growth has increased by about 350% since 1987. The commercial growth of livestock and poultry is probably closely correlated with this growth. Soybeans are supplying the world a needed source of protein and oil required for growth.
World Soybean – Production vs Usage
Table 2. World Soybean Meal Use by Country (2017/2018)Click edit button to change this text.
WORLD SOYBEAN PRODUCTIONÂ AND PRODUCER COUNTRIES
Today, USA is the top soybean producer in the world. According to the USDA 106,8 million tons, a significant part of world soybean production which was 319 million tons in 2014/15 season was realized by USA. USA total soybean production in 2015/16 season is estimated to remain same. USDA forecasted that production of USA will increase and reach 117,2 million tons in 2016/17 season.
Following USA, second largest producer is Brazil. In 2014/15 season, Brazil realized soybean production of 97,2 million tons. It is estimated to decrease 96,5 million tons in 2015/16 season. USDA forecasted that production of Brazil will increase and reach 104 million tons with 3,5 million tons rising in 2016/17 season.
USA and Brazil meet alone more than half of world soybean production which was 313,5 million tons (2015/16). Argentina with 56,8 million tons follows these two countries. China which comes after Argentina is estimated 11,7 million tons soybean in 2015/16 season. Paraguay with 9 million tons, India with 7,1 million tons and Canada with 6,3 million tons follow China.
WORLD SOYBEAN CONSUMPTIONÂ AND CONSUMER COUNTRIES
According to the data of IGC, world soybean consumption which was 312 million tons in 2014/15 season reached 319 million tons in 2015/16 season. IGC forecasts that consumption amount will continue to increase in 2016/17 season and reach to 333 million tons.
According to the data of USDA, 276,7 million tons of world soybean production which was 313,5 million tons in 2015/16 season is used by grinding. According to the data of 2015/16 season, China is the number one in grinded soybean consumption with 81,3 million tons. USA with 51,3 million tons, Argentina with 43,2 million tons, Brazil with 39,9 million tons, EU with 15,1 million tons, India with 5,8 million tons, Mexico with 4,4 million tons follow China.
WORLD SOYBEAN TRADE
According to the data of International Grain Council (IGC), amount of soybean which is traded around the world exceeded 130 million tons. According to this, world soybean trade which was 127 million tons in 2014/15 season reached 134 million tons in 2015/16 season. IGC forecasted that soybean trade will increase to 137 million tons in 2016/17 season.
According to the data of USDA, 83,2 million tons of world soybean import which was around 133,3 million tons in 2015/16 season belongs to China. In world soybean import, EU with 15 million tons, Mexico with 4,1 million tons and Japan with 3,1 million tons follow China. In exports, Brazil and USA come first. Export amount of Brazil in 2015/16 season was 54,3 million tons, and it was 52,6 million tons for USA. Argentina with 9,9 million tons, Paraguay with 5,3 million tons, Canada with 4,2 million tons follow in exportation.
