Dried shelled beans market in Asia

Earlier Report Observations

The market volume for dried shelled beans in Asia began the period at a high of 14.6 million tonnes in 2018 before entering a phase of contraction. The U.S.-China trade friction in 2018 disrupted established import patterns and pricing, contributing to a sharp fall in import volumes the following year. Concurrently, domestic policies that encouraged the expansion of corn cultivation in 2019 reduced the planted area for soybeans, a major bean variety, leading to lower production and a decline in overall market volume to 13.0 million tonnes by 2020.

A sustained recovery commenced in 2021, with the market expanding to 15.6 million tonnes by 2022. Government measures, including the introduction of soybean processing subsidies and state reserve purchase policies, helped stabilize domestic supply chains. This coincided with a period of abundant global soybean production, which eased international prices and allowed for increased import volumes into the region, further fueling market growth.

The market stabilized at 15.4 million tonnes in 2023, experiencing a minor correction. This was influenced by ongoing ample global supplies which kept a downward pressure on prices. Furthermore, financial losses within the domestic pig farming sector reduced demand for beans used in feed, applying a moderating effect on overall market consumption.

Production dried shelled beans in Asia

In kind, 2017-2020, K t

Top producers of dried shelled beans, 2017-2020

World map of production of dried shelled beans, 2017-2020

Asia's dried shelled beans production rebounded after a two-year decline. In 2020, the region produced 13 526 K t, marking a 3.7% increase compared to the previous year. Looking at the 2017-2020 period, production actually decreased by 7.2%, with a compound annual growth rate of 2.4%. The lowest production level was recorded in 2019 at 13 039 K t, which also saw the most significant annual decline of 8.5%.

Annual dynamics of production in Asia in kind, 2017-2020, K t

In value, 2017-2020, B $ US

Asia's dried shelled beans production value has now increased for three consecutive years. In 2020, the output was valued at 102.6 B $ US, remaining largely stable compared to 2019. Over the 2017-2020 period, production value grew by 12.3%, translating to a compound annual growth rate of 3.9%.

Annual dynamics of production in Asia in value, 2017-2020, B $ US

Exports dried shelled beans from Asia

Exports in kind, K t

Export volumes showed considerable volatility during this period. The lowest point came in 2019 at 671 K t, while exports peaked in 2020 at 1 585 K t - representing a 2.4-fold difference between these years. The 2020 figure marked a dramatic 136.2% increase compared to 2019. The most substantial decline occurred in 2019, when exports fell by 44.5%.

Annual dynamics of product's exports from Asia in kind, 2017-2020, K t

The export structure from 2017 to 2020 reveals a highly diversified market. The top three partners - the United States, Cuba, and Russia - each accounted for just 1.4% of exports in kind, collectively representing only 4.2% of total flows. The remaining 95.8% was distributed across numerous smaller markets.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Asia in kind, 2017-2020

Exports in value, M $ US

Asia's dried shelled beans export value has grown for two consecutive years. In 2020, exports reached 2 022 M $ US, representing a 20.0% increase from the previous year. Over the 2017-2020 period, export value rose by 20.4%, with a compound annual growth rate of 6.4%. The lowest value was recorded in 2018 at 1 495 M $ US, which also saw the largest annual decline of 11.0%.

Annual dynamics of product's exports from Asia in value, 2017-2020, M $ US

From 2017 to 2020, the export market in value terms maintained high diversification. The United States accounted for 2.1% of export value, Cuba for 1.8%, and Italy for 1.6% - together representing just 5.4% of total flows. The remaining 94.6% was spread across a long tail of smaller markets.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Asia in value, 2017-2020

Imports dried shelled beans to Asia

Imports in kind, K t

Asia's dried shelled beans imports reached 1 033 K t in 2020, showing a substantial 21.6% improvement from 2019. Over the 2017-2020 period, import volumes increased by 13.3%, with a compound annual growth rate of 4.2%. The lowest import level was recorded in 2019 at 850 K t, which saw the largest annual decline of 44.6%. The highest import volume occurred in 2018 at 1 534 K t, marking the most significant annual increase of 68.1%.

Annual dynamics of product's imports to Asia in kind, 2017-2020, K t

Between 2017 and 2020, Asia's dried shelled beans imports in kind were widely distributed across partner countries. Ethiopia accounted for 6.1% of imports, Argentina for 5.9%, and Canada for 4.3% - together representing just 16.3% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Asia in kind, 2017-2020

Imports in value, M $ US

Asia's dried shelled beans import value has increased for two consecutive years. In 2020, imports totaled 1 396 M $ US, reflecting a solid 24.5% advance from 2019. Over the 2017-2020 period, import value grew by 24.6%, with a compound annual growth rate of 7.6%. The lowest value was recorded in 2018 at 1 084 M $ US, which saw the largest annual decline of 3.3%.

Annual dynamics of product's imports to Asia in value, 2017-2020, M $ US

From 2017 to 2020, the import market in value terms remained highly fragmented. Argentina accounted for 6.2% of import value, Ethiopia for 5.3%, and Canada for 4.3% - together representing just 15.8% of total flows, with no single partner emerging as clearly dominant.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Asia in value, 2017-2020