Soybeans market in Italy

Earlier Report Observations

Italy's soybean market volume increased from 2 814 thousand tons in 2018 to 3 306 thousand tons in 2021, driven by the country's establishment as a major non-GMO producer in Europe, supported by policies and mandatory labeling for GMO content. EU regulations on GMO authorization and traceability, along with Italy's ban on cultivation but allowance of imports, facilitated rising import volumes, which expanded the overall market.

After a slight dip to 3 107 thousand tons in 2022, market volume recovered to 3 399 thousand tons in 2023. During this period, growing interest in high-protein and certified non-GMO soy for exports provided a quality focus, while climate change impacts such as adverse weather and increasing land rental costs contributed to higher market values, reaching 2.7 billion dollars by 2023.

Geopolitical tensions and EU authorization of new GMO soybean varieties influenced import dynamics, with supply chain contracts for Made in Italy soy emphasizing origin certification and non-GMO standards to meet external demand.

Production soybeans in Italy

In kind, 2017-2020, K t

Between 2017 and 2020, Italy ranked as the 14th largest producer of soybeans globally.

Top producers of soybeans, 2017-2020

World map of production of soybeans, 2017-2020

Soybean production in Italy declined for the second consecutive year. In 2020, the country produced 1 006 K t of soybeans, representing a 3.6% decrease compared to 2019. The largest decline occurred in 2019, with a drop of 12.1%, while the peak production was recorded in 2018 at 1 186 K t, which marked a significant increase of 16.3% from the previous year.

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

In value, 2017-2020, M $ US

In 2020, the value of soybean output in Italy was 866 M $ US, showing little change from the previous year. Over the 2017-2020 period, production value grew by 23.3%, with a compound annual growth rate (CAGR) of 7.2%. The highest value was achieved in 2018 at 1 012 M $ US, reflecting a substantial increase of 44.1%. However, in 2019, there was a notable decline of 14.4%.

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

Exports soybeans from Italy

Exports in kind, K t

Italy's soybean exports declined for the third consecutive year. In 2020, exports stood at 17 K t, down by 14.1% compared to 2019. From 2017 to 2020, exports decreased by 48.7%, with a compound annual decline rate of 19.9%.

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

The structure of Italy's soybean exports in kind from 2017 to 2020 was diversified. Switzerland accounted for 25.1% of exports, Belgium for 13.2%, and Sweden for 9.0%, together making up 47.3% of total flows. No single country held a clearly dominant position.

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

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

Exports in value, M $ US

Soybean exports from Italy declined for the third year in a row. In 2020, export value reached 14.8 M $ US, showing a strong year-on-year drop of 10.9%. Between 2017 and 2020, exports decreased by 35.8%, equating to an annualized decline rate of 13.7%.

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

Italy's soybean export structure in value terms from 2017 to 2020 was characterized by diversification. Switzerland contributed 18.8% of exports, Romania 12.7%, and Belgium 12.4%, collectively accounting for 43.9% of total flows, with no country emerging as clearly dominant.

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

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

Imports soybeans to Italy

Imports in kind, K t

Italy's soybean imports increased for the third consecutive year. In 2020, imports amounted to 2 213 K t, reflecting a modest 8.1% rise compared to the previous year. From 2017 to 2020, imports grew by 54.6%, with an annualized growth rate of 15.6%.

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

From 2017 to 2020, Brazil was the leading source for Italy's soybean imports in kind, accounting for 31.5%, followed by the United States at 26.8% and Canada at 16.1%. Together, these three countries represented 74.4% of total import flows.

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

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

Imports in value, M $ US

Italy's soybean imports increased for the third year in a row. In 2020, import value reached 890.1 M $ US, marking a strong 14.3% increase compared to the previous year. Over the 2017-2020 period, imports rose by 45.9%, with a compound annual growth rate (CAGR) of 13.4%.

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

Throughout 2017 to 2020, Brazil played a key role in Italy's soybean imports in value terms, accounting for 29.9%, while the United States contributed 27.1% and Canada 16.1%. Collectively, these three countries accounted for 73.1% of total import flows.

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

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