Indonesia: Soya Bean Market 2025

Soya Bean Market Size in Indonesia

The Indonesian soya bean market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Soya Bean Production in Indonesia

In value terms, soya bean production soared to $X in 2021 estimated in export price. Overall, production showed a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of 122% against the previous year. Soya bean production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

The average yield of soya beans in Indonesia fell to X tons per ha in 2021, almost unchanged from 2020 figures. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 59% against the previous year. Over the period under review, the average soya bean yield reached the peak level at X tons per ha in 2015; however, from 2016 to 2021, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The soya bean harvested area in Indonesia fell slightly to X ha in 2021, approximately equating the year before. The harvested area increased at an average annual rate of +2.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the harvested area increased by 13%. The soya bean harvested area peaked at X ha in 2018; however, from 2019 to 2021, the harvested area stood at a somewhat lower figure.

Soya Bean Exports

Exports from Indonesia

In 2021, overseas shipments of soya beans decreased by -21.3% to X tons, falling for the second year in a row after four years of growth. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 2,767% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, soya bean exports surged to $X in 2021. Over the period under review, exports showed a deep contraction. The growth pace was the most rapid in 2014 with an increase of 5,214%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Timor-Leste (X tons) was the main destination for soya bean exports from Indonesia, accounting for a 98% share of total exports. It was followed by Malaysia (X kg), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Timor-Leste amounted to +14.5%.

In value terms, Timor-Leste ($X) remains the key foreign market for soya bean exports from Indonesia, comprising 96% of total exports. The second position in the ranking was taken by Malaysia ($X), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Timor-Leste totaled +12.6%.

Export Prices by Country

The average soya bean export price stood at $X per ton in 2021, growing by 58% against the previous year. Over the period under review, the export price, however, showed a deep downturn. The pace of growth appeared the most rapid in 2014 an increase of 85% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Timor-Leste stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Timor-Leste (-1.6%), while the prices for the other major destinations experienced a decline.

Soya Bean Imports

Imports into Indonesia

In 2021, imports of soya beans into Indonesia stood at X tons, therefore, remained relatively stable against the year before. The total import volume increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by 18%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, soya bean imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of soya bean to Indonesia, with a 86% share of total imports. Moreover, soya bean imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), ninefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+46.1% per year) and Argentina (+48.6% per year).

In value terms, the United States ($X) constituted the largest supplier of soya bean to Indonesia, comprising 87% of total imports. The second position in the ranking was taken by Canada ($X), with a 9.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+45.7% per year) and Argentina (+49.0% per year).

Import Prices by Country

The average soya bean import price stood at $X per ton in 2021, jumping by 47% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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