Iraq: Soya Bean Market 2025

Soya Bean Market Size in Iraq

In 2021, the Iraqi soya bean market increased by 199% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption, however, recorded a deep contraction. Soya bean consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Soya Bean Production in Iraq

In value terms, soya bean production fell to $X in 2021 estimated in export price. In general, production recorded a prominent increase. The pace of growth was the most pronounced in 2015 when the production volume increased by 87%. Soya bean production peaked at $X in 2020, and then declined in the following year.

In 2021, the average soya bean yield in Iraq amounted to X kg per ha, approximately equating the previous year's figure. Over the period under review, the yield recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the yield increased by 1.7% against the previous year. Over the period under review, the average soya bean yield reached the peak level at X kg per ha in 2012; however, from 2013 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.

In 2021, approx. X ha of soya beans were harvested in Iraq; leveling off at the year before. In general, the total harvested area indicated a notable expansion from 2012 to 2021: its figure increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soya bean harvested area decreased by -2.3% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the harvested area increased by 65% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2016 to 2021, the growth of the soya bean harvested area failed to regain momentum.

Soya Bean Exports

Exports from Iraq

In 2021, the amount of soya beans exported from Iraq totaled X kg, remaining stable against the year before. Overall, exports showed a precipitous descent. The smallest decline of -91.8% was in 2019. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, soya bean exports stood at $X in 2021. In general, exports faced a sharp descent. The smallest decline of -88% was in 2019. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for soya bean exports from Iraq, with a approx. 100% share of total exports.

From 2018 to 2021, the average annual growth rate of volume to the United Arab Emirates was relatively modest.

From 2018 to 2021, the average annual growth rate of value to the United Arab Emirates was relatively modest.

Export Prices by Country

The average soya bean export price stood at $X per ton in 2021, remaining constant against the previous year. In general, the export price saw a prominent expansion. The pace of growth appeared the most rapid in 2019 an increase of 46% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2018 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to 0.0% per year.

Soya Bean Imports

Imports into Iraq

After four years of decline, supplies from abroad of soya beans increased by 730% to X tons in 2021. Overall, imports, however, recorded a deep setback. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, soya bean imports soared to $X in 2021. Over the period under review, imports saw strong growth. The most prominent rate of growth was recorded in 2020 when imports increased by 700% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest soya bean supplier to Iraq, with a 56% share of total imports. Moreover, soya bean imports from Turkey exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. The third position in this ranking was taken by Croatia (X tons), with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey amounted to +25.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+133.7% per year) and Croatia (0.0% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of soya bean to Iraq, comprising 66% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total imports. It was followed by Turkey, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands totaled +204.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+5.8% per year) and Turkey (+18.5% per year).

Import Prices by Country

In 2021, the average soya bean import price amounted to $X per ton, falling by -46.2% against the previous year. Overall, the import price, however, enjoyed a significant increase. The growth pace was the most rapid in 2020 an increase of 1,224%. As a result, import price attained the peak level of $X per ton, and then declined dramatically in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+37.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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