Soybeans market in Northern Europe

Earlier Report Observations

The soybean market in Northern Europe, primarily supplied by imports, experienced notable fluctuations between 2018 and 2023. The market volume reached 1.37 million metric tons in 2023, following a significant increase supported by the comprehensive trade agreement between the EU and South American countries finalized that year, which facilitated greater soybean imports into Europe. This upward trend continued into 2024, with imports rising further, influenced both by the trade deal and rainy winter weather across Western and Northern Europe that affected local sowing conditions and reinforced reliance on imported beans, even as global soybean harvests in Argentina and Ukraine tightened supply.

Alongside the import-driven market, domestic soybean cultivation in Sweden saw sustained interest aimed at strengthening local protein production and agricultural competitiveness. Field trials in Skåne from 2020 to 2022 tested the feasibility of growing edamame and standard soybeans in the Swedish climate, leading to the development of cultivation techniques and varieties with lower heat requirements. Although domestic production remained minimal, these efforts reflected a broader push for food security and self-sufficiency in the region.

Production soybeans in Northern Europe

In kind, 2017-2020, t

Top producers of soybeans, 2017-2020

World map of production of soybeans, 2017-2020

The data shows irregular changes, indicating a volatile market environment. From the low in 2017 to the high in 2018, {context} volumes varied {ampRatio} times. In 2020, 2 560 t of soybeans were produced in Northern Europe, marking a 10.8% increase compared to 2019. The maximum value was recorded in 2018 at 3 450 t. The largest decline occurred in 2019, falling by 33.0%.

Annual dynamics of production in Northern Europe in kind, 2017-2020, t

In value, 2017-2020, K $ US

The market exhibited an unstable trend throughout the timeframe. {context_3} volumes fell to a trough in 2017 and peaked in 2018, with a top-to-bottom ratio of {ampRatio} times. In 2020, soybean output was valued at 1 624 K $ US in Northern Europe, reflecting a notable loss of 21.4% compared to 2019.

Annual dynamics of production in Northern Europe in value, 2017-2020, K $ US

Exports soybeans from Northern Europe

Exports in kind, K t

Soybean shipments from Northern Europe to abroad increased for the third consecutive year. In 2020, exports were recorded at 20 K t, showing a gain of 44.1% year-over-year. Over the period 2017-2020, exports increased by 135.4%, with a CAGR of 33.0%.

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

The structure of exports in kind from 2017 to 2020 can be described as diversified, as Germany (6.1% of exports in kind), France (4.7% of exports in kind), and Austria (1.3% of exports in kind) together accounted for just 12.1% of total flows, with no country holding a clearly dominant position.

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

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

Exports in value, M $ US

Northern Europe's soybean export volume increased for the third consecutive year. In 2020, exports amounted to 12.6 M $ US, showing a slight increase of 2.2% compared to 2019. Over the period 2017-2020, exports increased by 36.1%, with a CAGR of 10.8%.

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

From 2017 to 2020, exports in value terms of soybeans from Northern Europe were spread across many countries, with Germany (9.6% of exports in value terms), France (7.5% of exports in value terms), and Czechia (4.2% of exports in value terms) jointly accounting for only 21.2% of total flows.

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

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

Imports soybeans to Northern Europe

Imports in kind, K t

In 2020, Northern Europe's volume of soybean imports reached 1 306 K t, marking a robust increase of 14.0% compared with 2019. The minimum value was recorded in 2019 at 1 146 K t, while the maximum value was recorded in 2018 at 1 329 K t. The largest decline occurred in 2019, falling by 13.8%.

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

From 2017 to 2020, the leading destinations for imports in kind of soybeans to Northern Europe were Brazil (58.1% of imports in kind), Canada (17.2% of imports in kind), and the United States (16.5% of imports in kind), which jointly accounted for 91.8% of total flows.

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

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

Imports in value, M $ US

Northern Europe imported a total of 605.8 M $ US of soybeans in 2020, marking a robust advance of 21.1% compared with 2019. Over the period 2017-2020, imports increased by 3.5%, with a CAGR of 1.1%. The minimum value was recorded in 2019 at 500.4 M $ US, and the largest decline occurred in 2019, falling by 15.5%.

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

Throughout 2017 to 2020, Brazil (55.8% of imports in value terms), Canada (17.3% of imports in value terms), and the United States (14.7% of imports in value terms) formed the core of imports in value terms, together taking 87.8% of total flows.

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

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