Soybeans market in CIS

Earlier Report Observations

From 2018 to 2020, soybean production in the CIS region increased from 4.4 million tonnes to 4.6 million tonnes, driven by the expansion of sown areas and higher yields as major agribusinesses invested in cultivation. Government import substitution policies reduced reliance on imports, particularly from the United States, strengthening domestic supply. Growing consumption, supported by demand from the feed and food industries, further stimulated output.

The period from 2021 to 2023 saw production surge to 7.1 million tonnes. This growth was fueled by record harvests in regions like Amur Oblast and continued state support for farmers. The introduction of an export duty in February 2021, initially set at 30% and later lowered to 20%, aimed to secure raw materials for domestic processors while managing overseas shipments. Strengthened trade ties with China provided a key export outlet, contributing to a rise in exports which, along with falling imports, shaped the total market volume.

In 2024, sown areas for soybeans approached 4 million hectares, continuing the trend of production growth. Ongoing government subsidies and insurance support for agricultural producers, alongside investments in processing capacity for products like biofuels and high-protein feeds, solidified the market's expansion. Changes in China's import patterns, with a shift towards South American soybeans, indirectly influenced export dynamics from the CIS region.

Production soybeans in CIS

In kind, 2017-2020, K t

Top producers of soybeans, 2017-2020

World map of production of soybeans, 2017-2020

After two consecutive years of growth, soybean production in the CIS declined. In 2020, the region produced 4 611 K t of soybeans, representing a 2.3% decrease compared to the previous year. Over the 2017-2020 period, production increased by 17.3%, with a compound annual growth rate of 5.5%. The highest production level was recorded in 2019 at 4 720 K t, while the largest annual increase occurred in 2018 at 10.8%.

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

In value, 2017-2020, M $ US

Soybean production value in the CIS increased for the third consecutive year. In 2020, the output was valued at 1 708 M $ US, marking an 11.2% year-over-year rise. Between 2017 and 2020, production value grew by 30.3%, equivalent to an annualized rate of 9.2%.

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

Exports soybeans from CIS

Exports in kind, K t

The data shows irregular fluctuations, indicating a volatile market environment. The lowest export volume occurred in 2017, while the highest was observed in 2020, with a peak-to-trough ratio of 2.2 times. In 2020, soybean exports from the CIS totaled 1 204 K t, representing a significant 28.3% increase compared to 2019. The largest annual decline was recorded in 2019 at 7.4%, while the largest increase occurred in 2018 at 84.9%.

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

Between 2017 and 2020, China accounted for 75.6% of total soybean exports in volume, with the remaining flows distributed among a diverse group of smaller countries.

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

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

Exports in value, M $ US

Market behavior during these years was characterized by volatility. The lowest export value was recorded in 2017, while the highest occurred in 2020, with a peak-to-trough ratio of 2.4 times. In 2020, soybean deliveries from the CIS reached 446 M $ US, up 46.1% from the previous year. The largest annual decline was in 2019 at 5.5%, while the largest increase was in 2018 at 76.8%.

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

From 2017 to 2020, China (69.6% of export value), Turkey (6.1%), and South Korea (1.9%) were the principal destinations for soybean exports in value terms, collectively accounting for 77.6% of total flows.

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

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

Imports soybeans to CIS

Imports in kind, K t

In 2020, soybean imports to the CIS totaled 2 667 K t, showing a moderate 3.3% increase over the previous year. Over the 2017-2020 period, imports grew by 12.2%, with a compound annual growth rate of 3.9%. The largest annual decline was recorded in 2019 at 2.5%, while the largest increase occurred in 2018 at 11.4%.

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

Between 2017 and 2020, Brazil (42.4% of import volume), Paraguay (30.6%), and Ukraine (12.5%) together accounted for 85.5% of total soybean imports to the CIS, remaining the primary sources.

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

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

Imports in value, M $ US

In 2020, the CIS imported soybeans worth 1 129 M $ US, reflecting a strong 11.7% increase compared to 2019. Over the 2017-2020 period, import value rose by 9.4%, with a compound annual growth rate of 3.0%. The lowest value was recorded in 2019 at 1 011 M $ US, while the highest was in 2018 at 1 178 M $ US. The largest annual decline occurred in 2019 at 14.1%, and the largest increase was in 2018 at 14.0%.

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

From 2017 to 2020, Brazil (43.0% of import value), Paraguay (29.9%), and Ukraine (12.2%) made the largest contributions to soybean imports in value terms, jointly accounting for 85.0% of total flows.

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

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