Italy: Soya Bean Market 2024

Soya Bean Market Size in Italy

For the fourth year in a row, the Italian soya bean market recorded growth in sales value, which increased by 33% to $X in 2021. In general, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +9.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +92.1% against 2015 indices. Soya bean consumption peaked in 2021 and is expected to retain growth in the immediate term.

Soya Bean Production in Italy

In value terms, soya bean production fell modestly to $X in 2021 estimated in export price. In general, the total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +11.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -14.3% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of 79% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

The average yield of soya beans in Italy shrank modestly to X tons per ha in 2021, approximately equating 2020 figures. The yield figure increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 23%. The soya bean yield peaked at X tons per ha in 2014; however, from 2015 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 Italy expanded modestly to X ha in 2021, increasing by 3.4% on the previous year. Over the period under review, the total harvested area indicated buoyant growth from 2012 to 2021: its figure increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soya bean harvested area decreased by -18.9% against 2018 indices. The growth pace was the most rapid in 2015 when the harvested area increased by 33% against the previous year. 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 Italy

After three years of decline, overseas shipments of soya beans increased by 82% to X tons in 2021. In general, exports, however, continue to indicate a deep contraction. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, soya bean exports surged to $X in 2021. Overall, exports, however, saw a noticeable decline. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X tons), the Netherlands (X tons) and Denmark (X tons) were the main destinations of soya bean exports from Italy, together accounting for 40% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +46.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soya bean exported from Italy were Denmark ($X), Sweden ($X) and the Netherlands ($X), with a combined 42% share of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of +43.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average soya bean export price stood at $X per ton in 2021, rising by 8.7% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2013 when the average export price increased by 26% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Romania ($X per ton), while the average price for exports to Hungary ($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 Greece (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Soya Bean Imports

Imports into Italy

In 2021, approx. X tons of soya beans were imported into Italy; growing by 9.1% on the previous year's figure. In general, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of 45%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, soya bean imports surged to $X in 2021. Over the period under review, imports posted buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Brazil (X tons) constituted the largest supplier of soya bean to Italy, with a 56% share of total imports. Moreover, soya bean imports from Brazil exceeded the figures recorded by the second-largest supplier, Canada (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Brazil amounted to +59.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+19.0% per year) and the United States (+60.0% per year).

In value terms, Brazil ($X) constituted the largest supplier of soya bean to Italy, comprising 55% of total imports. The second position in the ranking was taken by Canada ($X), with a 16% share of total imports. It was followed by the United States, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from Brazil stood at +57.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+18.5% per year) and the United States (+47.1% per year).

Import Prices by Country

In 2021, the average soya bean import price amounted to $X per ton, growing by 37% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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