Soybeans market in Brazil, 2026

Earlier Report Observations

From 2018 to 2020, the Brazilian soybean market volume increased from 34.8 million tons to 40.4 million tons in 2019, supported by strong domestic demand for soybean meal from the meat industry and biodiesel blending policies that boosted internal consumption. In 2020, the volume slightly retreated to 39.7 million tons as global trade tensions, particularly between the U.S. and China, redirected more Brazilian soybeans to export markets, reducing domestic availability.

The market expanded sharply to 49.6 million tons in 2021, fueled by record Brazilian production and persistent Chinese demand for exports, which kept domestic supplies ample. After a dip to 42.8 million tons in 2022, the volume rebounded to 50.5 million tons in 2023, driven by continued area expansion, technological advances, and rising global demand for soybean-based animal feed and biofuels.

Production soybeans in Brazil

In kind, 2018-2021, M t

Brazil was the world's top producer of soybeans from 2018 to 2021.

Top producers of soybeans, 2018-2021

World map of production of soybeans, 2018-2021

Soybean production in Brazil grew for the second year in a row. In 2021, Brazil produced 134.8 million tonnes of soybeans, a 10.7% increase compared to the previous year. Between 2018 and 2021, production rose by 14.3%, which translates to an average annual growth rate of 4.6%. The lowest production level was recorded in 2019 at 114.3 million tonnes, marking a decline of 3.0% that year.

Annual dynamics of production in Brazil in kind, 2018-2021, M t

Exports soybeans from Brazil

Exports in kind, K t

Soybean export volumes from Brazil increased for the second consecutive year. In 2021, exports reached 86 110 thousand tonnes, up 3.8% year-over-year. From 2018 to 2021, exports grew by 3.4%, with an average annual rate of 1.1%. The lowest export volume was in 2019 at 74 015 thousand tonnes, which saw an 11.1% decline. The largest increase occurred in 2020, with exports rising by 12.1%.

Annual dynamics of product's exports from Brazil in kind, 2018-2021, K t

From 2018 to 2021, China accounted for 75.9% of Brazil's total soybean exports by volume, with the remaining share distributed among various smaller markets.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Brazil in kind, 2018-2021

Exports in value, M $ US

Brazil's soybean export value increased for the second year in a row. In 2021, exports totaled 38 639 million US dollars, a 35.3% rise compared to 2020. Over the 2018-2021 period, export value grew by 16.9%, with a compound annual growth rate of 5.3%. The lowest value was recorded in 2019 at 26 077 million US dollars, reflecting a 21.1% decline that year.

Annual dynamics of product's exports from Brazil in value, 2018-2021, M $ US

From 2018 to 2021, China was the leading destination for Brazil's soybean exports by value, holding a 75.8% share of total flows, while other partners made up the remainder.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Brazil in value, 2018-2021

Imports soybeans to Brazil

Imports in kind, K t

The market showed significant volatility during these years. Brazil's soybean import volume varied sixfold from the low in 2019 to the high in 2021. In 2021, imports stood at 864 thousand tonnes, a 5.1% increase from the previous year. The lowest volume was in 2019 at 144 thousand tonnes, which saw a 22.9% decline. The largest increase occurred in 2020, with imports surging by 469.9%.

Annual dynamics of product's imports to Brazil in kind, 2018-2021, K t

From 2018 to 2021, Paraguay was the dominant source for Brazil's soybean imports by volume, accounting for 89.6% of total flows, while other markets comprised a long tail of smaller shares.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Brazil in kind, 2018-2021

Imports in value, M $ US

Market performance exhibited noticeable fluctuations during this period. Brazil's soybean import value varied 8.8 times from the low in 2019 to the high in 2021. In 2021, imports amounted to approximately 408 million US dollars, a sharp increase of 45.0% compared to the previous year. The lowest value was in 2019 at 46 million US dollars, marking a 29.0% decline. The largest increase was in 2020, with import value jumping by 505.9%.

Annual dynamics of product's imports to Brazil in value, 2018-2021, M $ US

Throughout 2018 to 2021, Paraguay played the leading role in Brazil's soybean imports by value, with an 88.9% share of total flows, while other markets collectively accounted for the rest.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Brazil in value, 2018-2021