Market research

Soybeans market in MERCOSUR

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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"MERCOSUR" region includes following countries:

Brazil

Argentina

Uruguay

Paraguay

Earlier Report Observations

The soybean market in MERCOSUR expanded from 80.8 million tonnes in 2018 to a peak of 97.3 million tonnes in 2021, a 20% increase. This growth was primarily driven by the region's high dependence on international commercial demand, which boosted production. Soybeans remained the dominant oilseed crop, particularly in Argentina where they accounted for around 93% of oilseed production.

After the 2021 peak, the market contracted to 87.7 million tonnes in 2022 due to lower production, then stabilized at 88.2 million tonnes in 2023. In 2022, industry organizations proposed a common agenda to enhance production sustainability and open new markets, while the Brazilian Congress approved the commercialization of pesticides, affecting agricultural practices. Throughout the period, the soybean complex was crucial for exports, with the EU as a strategic partner accounting for 49% of Argentina's soybean exports to the European common market.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in MERCOSUR
  1. 5.1.1. Annual dynamics of production in MERCOSUR in kind, 2018-2023, M t
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, M t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, M t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, M t
    1. 6.1.2.1. Annual dynamics of product's imports to Brazil in kind, 2018-2024, M t
    2. 6.1.2.2. Dynamics of product's imports in kind to Brazil by countries, 2018-2024, M t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Brazil in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Brazil by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Brazil, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Brazil by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, M t
    1. 6.2.2.1. Annual dynamics of product's imports to Brazil in kind, 2018-2024, M t
    2. 6.2.2.2. Dynamics of product's imports in kind to Brazil by countries, 2018-2024, M t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Brazil in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Brazil by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Brazil, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Brazil by countries, 2018-2024, $ US/t
7. Exports
1. 7.1. Exports (Direct Data)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, M t
    1. 7.1.2.1. Annual dynamics of product's exports from Brazil in kind, 2018-2024, M t
    2. 7.1.2.2. Dynamics of product's exports in kind from Brazil by countries, 2018-2024, M t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Brazil in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Brazil by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Brazil, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from Brazil by countries, 2018-2024, $ US/t
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, M t
    1. 7.2.2.1. Annual dynamics of product's exports from Brazil in kind, 2018-2024, M t
    2. 7.2.2.2. Dynamics of product's exports in kind from Brazil by countries, 2018-2024, M t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Brazil in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Brazil by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Brazil, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from Brazil by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, M t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, M t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production soybeans in MERCOSUR

In kind, 2017-2020, M t

Top producers of soybeans, 2017-2020

Source: SHEV.io

World map of production of soybeans, 2017-2020

Source: SHEV.io

MERCOSUR's soybean production increased for the second consecutive year. In 2020, the region produced 183.6 million tons of soybeans, marking a 1.5% year-over-year increase. The lowest production level was recorded in 2018 at 168.1 million tons. The largest decline occurred in 2018 with an 8.4% drop, while the largest increase was in 2019 with a 7.6% rise.

Annual dynamics of production in MERCOSUR in kind, 2017-2020, M t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(8.4%)	7.6%	1.5%	0.0%

Source: SHEV.io

In value, 2017-2020, M $ US

After a two-year decline, soybean production in MERCOSUR increased. In 2020, the output was valued at 64 328 million US dollars, showing little change from the previous year. Over the period from 2017 to 2020, production decreased by 6.9%, with a compound annual growth rate (CAGR) of -2.4%. The lowest value was recorded in 2019 at 63 981 million US dollars, which also saw the largest decline of 4.9%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(2.6%)	(4.9%)	0.5%	(2.4%)

Source: SHEV.io

Exports soybeans from MERCOSUR

Exports in kind, K t

In 2020, MERCOSUR's soybean export volume reached 96 075 thousand tons, up 6.0% year-over-year. From 2017 to 2020, exports increased by 13.9%, with a CAGR of 4.4%. The largest decline was in 2019 at 2.4%, while the largest increase occurred in 2018 with a 10.1% rise.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	10.1%	(2.4%)	6.0%	4.4%

Source: SHEV.io

From 2017 to 2020, China dominated the country structure of soybean exports in kind, accounting for 72.8% of total flows, with other destinations making up relatively small shares.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, M $ US

In 2020, cross-border shipments of soybeans from MERCOSUR were valued at 33 659 million US dollars, reflecting a 5.0% gain over the previous year. Between 2017 and 2020, exports increased by 5.9%, equating to an annualized rate of 1.9%. The highest value was recorded in 2018 at 37 173 million US dollars, which also saw the largest increase of 17.0%. The largest decline occurred in 2019 with a 13.8% drop.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	17.0%	(13.8%)	5.0%	1.9%

Source: SHEV.io

From 2017 to 2020, China concentrated 73.3% of total soybean exports from MERCOSUR in value terms, with the remaining flows distributed among multiple smaller partners.

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

Source: SHEV.io

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

Source: SHEV.io

Imports soybeans to MERCOSUR

Imports in kind, K t

Volatility characterized the market behavior during these years. Imports peaked in 2018 at 5 560 thousand tons and reached their lowest point in 2017, with a 3.4-fold difference between these years. In 2020, soybean volumes imported by MERCOSUR amounted to 4 749 thousand tons, marking a 31.8% rise compared to 2019. The largest decline was recorded in 2019 at 35.2%, while the largest increase occurred in 2018 with a 237.3% surge.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	237.3%	(35.2%)	31.8%	42.3%

Source: SHEV.io

From 2017 to 2020, the United States consistently held the leading position in soybean imports to MERCOSUR in kind, accounting for 11.2% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, M $ US

Volatility characterized the market behavior during these years. Imports peaked in 2018 at 2 591 million US dollars and bottomed in 2017, with a 3.2-fold difference. In 2020, MERCOSUR's soybean import volume came to 2 273 million US dollars, amounting to a 36.7% rise from 2019. The largest decline was in 2019 at 35.8%, while the largest increase was in 2018 with a 224.0% jump.

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