Soybeans market in Eastern Europe (including Northern Asia)

Earlier Report Observations

In 2018, soybean production in the region was supported by record planted areas in the Far East. However, in 2019, a reduction in these areas led to a drop in output, while increased exports, potentially encouraged by the opening of the Chinese market for soybean meal, reduced domestic supply, causing the market volume to contract to 6.8 million t. The COVID-19 pandemic disrupted global trade in 2020, lowering exports and raising imports, which allowed the market to grow to 7.6 million t despite a further production decline due to reduced sowing areas.

From 2021, the market recovered as the introduction of an export duty on soybeans encouraged domestic processing and curtailed bean exports, while new deep-processing capacities boosted local consumption. In 2022, record expansion of planted area and higher yields lifted production to 10.1 million t, though geopolitical sanctions and falling imports limited market growth. By 2023, production surged to 12.3 million t owing to a record harvest, but a sharp rise in exports led to a slight decrease in market volume to 8.9 million t.

Production soybeans in Eastern Europe (including Northern Asia)

In kind, 2017-2020, K t

Top producers of soybeans, 2017-2020

World map of production of soybeans, 2017-2020

Soybean production in Eastern Europe (including Northern Asia) has declined for the second year in a row. In 2020, the region produced 7 833 K t of soybeans, representing a 12.0% decrease compared to the previous year. Looking at the period from 2017 to 2020, production fell by 5.9%, with an average annual decline of 2.0%. The highest production level was recorded in 2018 at 9 367 K t, which also saw the largest year-over-year increase of 12.6%.

Annual dynamics of production in Eastern Europe (including Northern Asia) in kind, 2017-2020, K t

In value, 2017-2020, M $ US

In 2020, the value of soybean output in Eastern Europe (including Northern Asia) was 3 088 M $ US, showing little change from 2019. Over the 2017-2020 period, production value decreased by 2.5%, translating to an average annual decline of 0.8%. The lowest value was recorded in 2019 at 3 078 M $ US, which experienced the largest drop of 12.2%. In contrast, 2018 saw the highest value at 3 507 M $ US, with the biggest increase of 10.8%.

Annual dynamics of production in Eastern Europe (including Northern Asia) in value, 2017-2020, M $ US

Exports soybeans from Eastern Europe (including Northern Asia)

Exports in kind, K t

In 2020, soybean exports from Eastern Europe (including Northern Asia) totaled 3 249 K t, marking a 31.3% decrease from the previous year. From 2017 to 2020, exports fell by 15.1%, with an average annual decline of 5.3%. The peak export volume occurred in 2019 at 4 728 K t, which also recorded the largest year-over-year increase of 41.7%.

Annual dynamics of product's exports from Eastern Europe (including Northern Asia) in kind, 2017-2020, K t

During the 2017-2020 period, Turkey (24.7% of exports in kind), China (18.8%), and Egypt (8.6%) formed the core of soybean exports from Eastern Europe (including Northern Asia), collectively accounting for 52.0% of total export volumes.

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

World map of product's exports from Eastern Europe (including Northern Asia) in kind, 2017-2020

Exports in value, M $ US

In 2020, the value of soybean exports from Eastern Europe (including Northern Asia) reached 1 281 M $ US, reflecting a significant 21.6% decrease compared to 2019. Over the 2017-2020 span, export value declined by 12%, with an average annual drop of 4.2%. The lowest value was recorded in 2018 at 1 250 M $ US, while the highest was in 2019 at 1 634 M $ US, which also saw the largest increase of 30.8%.

Annual dynamics of product's exports from Eastern Europe (including Northern Asia) in value, 2017-2020, M $ US

From 2017 to 2020, Turkey (24.3% of exports in value terms), China (15.9%), and Egypt (8.1%) played notable but not dominant roles as buyers of soybeans from Eastern Europe (including Northern Asia), with their combined share reaching 48.4% of total export value.

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

World map of product's exports from Eastern Europe (including Northern Asia) in value, 2017-2020

Imports soybeans to Eastern Europe (including Northern Asia)

Imports in kind, K t

In 2020, soybean imports into Eastern Europe (including Northern Asia) stood at 3 062 K t, showing a substantial 14.9% increase from the previous year. Over the 2017-2020 period, imports grew by 12.4%, with an average annual growth rate of 4.0%. The lowest import volume was recorded in 2019 at 2 666 K t, which also experienced the largest decline of 12.8%.

Annual dynamics of product's imports to Eastern Europe (including Northern Asia) in kind, 2017-2020, K t

Between 2017 and 2020, Brazil (40.3% of imports in kind), Paraguay (26.4%), and Argentina (2.9%) were the primary suppliers of soybeans to Eastern Europe (including Northern Asia), together accounting for 69.6% of total import volumes.

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

World map of product's imports to Eastern Europe (including Northern Asia) in kind, 2017-2020

Imports in value, M $ US

In 2020, the value of soybean imports into Eastern Europe (including Northern Asia) amounted to 1 320 M $ US, representing a strong 18.7% increase compared to the previous year. From 2017 to 2020, import value rose by 7.4%, with an average annual growth of 2.4%. The lowest value was recorded in 2019 at 1 112 M $ US, which saw the largest decline of 20.0%, while the highest was in 2018 at 1 389 M $ US.

Annual dynamics of product's imports to Eastern Europe (including Northern Asia) in value, 2017-2020, M $ US

Over the 2017-2020 period, Brazil (40.4% of imports in value terms), Paraguay (25.7%), and Argentina (3.1%) stood out as the main sources for soybean imports into Eastern Europe (including Northern Asia), collectively representing 69.2% of total import value.

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

World map of product's imports to Eastern Europe (including Northern Asia) in value, 2017-2020