Soybeans market in Bolivia, 2026

Earlier Report Observations

From 2018 to 2020, the Bolivian soybean market volume initially showed stability before declining. High production costs reported in 2018 and 2019 pressured producer profitability, yet the market size in physical terms edged up slightly to nearly 3.0 million tons by 2019. A more pronounced drop to 2.8 million tons occurred in 2020, coinciding with a government plan to establish a 5% blending rate to favor domestic diesel consumption, which increased operational expenses for the oilseed industry.

The market rebounded strongly in 2021, with volume exceeding 3.2 million tons despite the implementation of domestic price controls and quotas for soybean meal and oil that distorted negotiable prices. In 2022, the Ukraine-Russia conflict drove up international soybean prices, incentivizing Bolivian producers to expand cultivated area and boosting production. However, a surge in exports to over 600,000 tons redirected supply away from the domestic market, causing the internal market volume to contract to 2.9 million tons.

In 2023, the market volume recovered to 3.2 million tons. This growth unfolded amid reported production losses of over 800,000 tons due to drought and blockades, which affected the supply chain. International trade wars and tariffs, along with exchange rate differentials, continued to impact local prices for soybean products and influenced market conditions.

Production soybeans in Bolivia

In kind, 2017-2020, K t

From 2017 to 2020, Bolivia ranked 10th globally in soybean production volume.

Top producers of soybeans, 2017-2020

World map of production of soybeans, 2017-2020

After two years of growth, soybean production in Bolivia declined. In 2020, Bolivia produced 2 829 K t of soybeans, down 5.4% from 2019. Between 2017 and 2020, production increased by 5.9%, equivalent to an annualized rate of 1.9%. The highest production was recorded in 2019 at 2 991 K t, with the largest increase occurring in 2018 at 10.1%.

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

In value, 2017-2020, M $ US

Soybean production in Bolivia declined for the second consecutive year. In 2020, the output was valued at 1 152 M $ US, reflecting a modest 7.4% decrease compared to the previous year. From 2017 to 2020, production increased by 7.7%, translating to an annualized growth rate of 2.5%. The peak value was recorded in 2018 at 1 322 M $ US, with the largest increase also in 2018 at 23.5%.

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

Exports soybeans from Bolivia

Exports in kind, t

The market exhibited volatility during these years. Import levels fluctuated significantly, with a 2.6-fold difference between the low in 2018 and the high in 2020. In 2020, soybean deliveries from Bolivia reached 19 159 t, showing a sharp 72.6% increase from 2019. The lowest value was recorded in 2018 at 7 423 t, with the largest decline that year at 46.6%.

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

From 2017 to 2020, the geographical pattern of exports in kind showed a strong reliance on Peru, which accounted for 98.0% of total flows.

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

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

Exports in value, K $ US

Cross-border shipments of soybeans from Bolivia increased for the second consecutive year. In 2020, exports totaled 7 802 K $ US, up 68.8% from the previous year. Between 2017 and 2020, exports grew by 40.2%, equivalent to an annualized rate of 11.9%. The lowest value was recorded in 2018 at 3 335 K $ US, with the largest decline that year at 40.1%.

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

From 2017 to 2020, soybeans from Bolivia were primarily shipped to Peru, which absorbed 98.0% of total exports in value terms.

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

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

Imports soybeans to Bolivia

Imports in kind, t

The market displayed volatility during these years. Imports reached their lowest point in 2018 and peaked in 2017, with a fourfold difference between these years. In 2020, Bolivia imported a total of soybeans, up 53.0% from 2019. The minimum value was recorded in 2018 at 2 515 t, with the largest decline that year at 75.0%. The largest increase occurred in 2019 at 55.8%.

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

Throughout 2017 to 2020, imports in kind were heavily concentrated on Argentina, which represented 99.0% of total flows.

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

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

Imports in value, K $ US

The market showed signs of volatility over the observed period. Imports bottomed in 2018 and peaked in 2017, with a 4.2-fold amplitude. In 2020, Bolivia imported approximately 2 830 K $ US of soybeans, marking a 33.1% increase from 2019. The minimum value was recorded in 2018 at 1 320 K $ US, with the largest decline that year at 76.4%. The largest increase occurred in 2019 at 61.0%.

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

Throughout 2017 to 2020, imports in value terms were heavily focused on Argentina, which accounted for 98.7% of total flows.

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

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