Market research

Soybeans market in Asia

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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"Asia" region includes following countries:

China

Hong Kong

Japan

North Korea

South Korea

Macao

Mongolia

Afghanistan

Bangladesh

Bhutan

Sri Lanka

India

Iran

Maldives

Nepal

Pakistan

Brunei Darussalam

Myanmar

Cambodia

Indonesia

Laos

Malaysia

the Philippines

Timor-Leste

Singapore

Vietnam

Thailand

Kazakhstan

Kyrgyzstan

Tajikistan

Turkmenistan

Uzbekistan

Azerbaijan

Armenia

Bahrain

Cyprus

Georgia

Palestine

Iraq

Israel

Jordan

Kuwait

Lebanon

Oman

Qatar

Saudi Arabia

Syria

Turkey

the United Arab Emirates

Yemen

Earlier Report Observations

In 2018 and 2019, the Asian soybean market remained stable at 141.2 million tons, despite the US-China trade war which redirected import sources from the US to Brazil. Growth to 158.9 million tons in 2020 was driven by the US Federal Reserve's quantitative easing, which raised commodity prices, and increasing consumer demand for soybean protein amid health and dietary trends.

After the 2020 peak, market volume fell to 151.4 million tons in 2021, coinciding with record global soybean production, particularly in Brazil, which expanded supply. The market stabilized at 151.3 million tons in 2022 as domestic production in China reached a record 37.2 million tons, supported by policies that increased planted area and improved yields. By 2023, the market contracted to 144.9 million tons under pressure from continued high world output, which weighed on prices and import volumes.

In 2024, soybean imports into Asia rose to 130.2 million tons, reflecting ample global supply and China's implementation of a nationwide crop income insurance policy to stabilize domestic production capacity.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Asia
  1. 5.1.1. Annual dynamics of production in Asia in kind, 2018-2023, K t
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, K t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, K t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data*)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, M t
    1. 6.1.2.1. Annual dynamics of product's imports to China in kind, 2018-2024, M t
    2. 6.1.2.2. Dynamics of product's imports in kind to China by countries, 2018-2024, M t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's imports to China in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to China by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to China, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to China by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, M t
    1. 6.2.2.1. Annual dynamics of product's imports to China in kind, 2018-2024, M t
    2. 6.2.2.2. Dynamics of product's imports in kind to China by countries, 2018-2024, M t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's imports to China in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to China by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to China, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to China by countries, 2018-2024, $ US/t
7. Exports
1. 7.1. Exports (Direct Data*)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, M t
    1. 7.1.2.1. Annual dynamics of product's exports from China in kind, 2018-2024, M t
    2. 7.1.2.2. Dynamics of product's exports in kind from China by countries, 2018-2024, M t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's exports from China in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from China by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from China, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from China by countries, 2018-2024, $ US/t
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, M t
    1. 7.2.2.1. Annual dynamics of product's exports from China in kind, 2018-2024, M t
    2. 7.2.2.2. Dynamics of product's exports in kind from China by countries, 2018-2024, M t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's exports from China in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from China by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from China, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from China by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, M t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, M t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production soybeans in Asia

In kind, 2017-2020, K t

Top producers of soybeans, 2017-2020

Source: SHEV.io

World map of production of soybeans, 2017-2020

Source: SHEV.io

In 2020, Asia produced 34 092 thousand metric tons of soybeans, marking an 8.6% increase from the previous year. Over the 2017-2020 period, production grew by 20.1%, with a compound annual growth rate of 6.3%. The largest decline occurred in 2019 at 0.9%, while the most significant increase was in 2018 at 11.7%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	11.7%	(0.9%)	8.6%	6.3%

Source: SHEV.io

In value, 2017-2020, M $ US

In 2020, the value of soybean production in Asia reached 18 182 million US dollars, up 9.1% year-over-year. From 2017 to 2020, production value increased by 12.3%, translating to an annualized growth rate of 3.9%. The largest decline was recorded in 2019 at 3.1%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	6.3%	(3.1%)	9.1%	3.9%

Source: SHEV.io

Exports soybeans from Asia

Exports in kind, M t

In 2020, soybean exports from Asia totaled 0.3 million metric tons, representing an 11.3% decrease compared to the previous year. Between 2017 and 2020, exports fell by 21.6%, with an annualized decline rate of 7.8%. The largest drop occurred in 2018 at 15.2%, while the biggest increase was in 2019 at 4.3%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(15.2%)	4.3%	(11.3%)	(7.8%)

Source: SHEV.io

From 2017 to 2020, Asian soybeans were exported to numerous countries, with the top destinations—the United States, the Netherlands, and Greece—accounting for only 35.8% of total export volume combined.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, M $ US

In 2020, the value of soybean exports from Asia amounted to 150 million US dollars, reflecting a 10.9% decline from 2019. Over the 2017-2020 period, export value decreased by 26.7%, with a compound annual decline rate of 9.8%. The largest drop was in 2018 at 19.3%, while the biggest increase was in 2019 at 2.0%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(19.3%)	2.0%	(10.9%)	(9.8%)

Source: SHEV.io

Between 2017 and 2020, the geographical distribution of soybean export value was highly diversified. The top three destinations—the United States (26.3% of export value), the Netherlands (3.6%), and Sweden (2.4%)—together represented just 32.3% of total flows, with the remaining 67.7% spread across numerous smaller trading partners.

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

Source: SHEV.io

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

Source: SHEV.io

Imports soybeans to Asia

Imports in kind, M t

Soybean imports into Asia rose for the second consecutive year in 2020, reaching 125.1 million metric tons—a strong 13.6% increase from the previous year. From 2017 to 2020, imports grew by 7.2%, equating to an annualized growth rate of 2.3%. The lowest volume was recorded in 2018 at 109.8 million metric tons, which also saw the largest decline of 6.0%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(6.0%)	0.3%	13.6%	2.3%

Source: SHEV.io

Throughout 2017-2020, Brazil and the United States were the primary sources for soybean imports into Asia, together accounting for 86.8% of total import volume, with other partners making up the remainder.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, M $ US

Following a two-year decline, soybean import value into Asia rebounded in 2020, totaling 49 937 million US dollars—a 13.4% increase from the previous year. The lowest value was recorded in 2019 at 44 035 million US dollars, which also experienced the largest decline of 8.2%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(2.2%)	(8.2%)	13.4%	0.6%

Source: SHEV.io

From 2017 to 2020, Brazil (56.2% of total import value) and the United States (30.4%) dominated soybean imports into Asia, together comprising 86.5% of total flows, while other partners accounted for the rest.

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

Source: SHEV.io

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

Source: SHEV.io