Australia: Soya Bean Market 2025

Soya Bean Market Size in Australia

The Australian soya bean market dropped dramatically to $X in 2021, declining by -55.4% against the previous year. Overall, consumption recorded a sharp descent. Soya bean consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Soya Bean Production in Australia

In value terms, soya bean production plummeted to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when the production volume increased by 55% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

In 2021, the average yield of soya beans in Australia dropped sharply to X tons per ha, waning by -21% on 2020 figures. In general, the yield showed a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the yield increased by 57%. Over the period under review, the average soya bean yield hit record highs at X tons per ha in 2012; however, from 2013 to 2021, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the total area harvested in terms of soya beans production in Australia soared to X ha, increasing by 19% against the previous year. Over the period under review, the harvested area, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2018 when the harvested area increased by 93%. Over the period under review, the harvested area dedicated to soya bean production attained the maximum at X ha in 2013; however, from 2014 to 2021, the harvested area stood at a somewhat lower figure.

Soya Bean Exports

Exports from Australia

In 2021, after four years of decline, there was significant growth in shipments abroad of soya beans, when their volume increased by 717% to X tons. Overall, exports continue to indicate a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, soya bean exports skyrocketed to $X in 2021. In general, exports recorded a strong expansion. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons), Taiwan (Chinese) (X tons) and New Caledonia (X tons) were the main destinations of soya bean exports from Australia, together comprising 89% of total exports.

From 2012 to 2021, the biggest increases were in Malaysia (with a CAGR of +114.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soya bean exported from Australia were Malaysia ($X), Taiwan (Chinese) ($X) and South Korea ($X), together comprising 89% of total exports.

Malaysia, with a CAGR of +89.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average soya bean export price amounted to $X per ton, waning by -14.3% against the previous year. Over the period under review, the export price showed a noticeable reduction. The growth pace was the most rapid in 2020 when the average export price increased by 35% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was South Korea ($X per ton), while the average price for exports to Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+1.1%), while the prices for the other major destinations experienced mixed trend patterns.

Soya Bean Imports

Imports into Australia

In 2021, supplies from abroad of soya beans decreased by -50.8% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, imports, however, continue to indicate a perceptible expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 247%. Over the period under review, imports hit record highs at X tons in 2020, and then reduced sharply in the following year.

In value terms, soya bean imports dropped sharply to $X in 2021. In general, imports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of 187% against the previous year. Imports peaked at $X in 2020, and then contracted dramatically in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of soya bean to Australia, with a 75% share of total imports. Moreover, soya bean imports from China exceeded the figures recorded by the second-largest supplier, Canada (X tons), fourfold. Austria (X tons) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-3.6% per year) and Austria (-37.4% per year).

In value terms, China ($X) constituted the largest supplier of soya bean to Australia, comprising 71% of total imports. The second position in the ranking was taken by Canada ($X), with a 14% share of total imports. It was followed by Japan, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+14.9% per year) and Japan (+1.6% per year).

Import Prices by Country

In 2021, the average soya bean import price amounted to $X per ton, surging by 29% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; afterwards, it flattened through to 2021.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :