South-Eastern Asia: Soya Bean Market 2025

Soya Bean Market Size in South-Eastern Asia

The Southeast Asian soya bean market soared to $X in 2021, jumping by 23% against the previous year. The market value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Soya Bean Production in South-Eastern Asia

In value terms, soya bean production reached $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 26% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

The country with the largest volume of soya bean production was Indonesia (X tons), accounting for 70% of total volume. Moreover, soya bean production in Indonesia exceeded the figures recorded by the second-largest producer, Cambodia (X tons), sixfold. Myanmar (X tons) ranked third in terms of total production with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume in Indonesia stood at +2.0%. The remaining producing countries recorded the following average annual rates of production growth: Cambodia (+4.2% per year) and Myanmar (-1.4% per year).

The average soya bean yield contracted slightly to X tons per ha in 2021, almost unchanged from 2020 figures. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 31%. The level of yield peaked at X tons per ha in 2015; however, from 2016 to 2021, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the soya bean harvested area in South-Eastern Asia reduced modestly to X ha, flattening at the previous year's figure. In general, the harvested area, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the harvested area increased by 6.4%. Over the period under review, the harvested area dedicated to soya bean production reached the peak figure at X ha in 2018; however, from 2019 to 2021, the harvested area failed to regain momentum.

Soya Bean Exports

Exports in South-Eastern Asia

For the third consecutive year, South-Eastern Asia recorded decline in overseas shipments of soya beans, which decreased by -37.9% to X tons in 2021. Overall, exports saw a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 117%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, soya bean exports shrank markedly to $X in 2021. Over the period under review, exports saw a deep downturn. The pace of growth was the most pronounced in 2014 when exports increased by 120% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Cambodia (X tons), Malaysia (X tons) and Singapore (X tons) represented roughly 78% of total exports in 2021. It was distantly followed by Myanmar (X tons) and Indonesia (X tons), together constituting a 16% share of total exports. The following exporters - Thailand (X tons) and Vietnam (X tons) - each finished at a 5.6% share of total exports.

From 2012 to 2021, the biggest increases were in Myanmar (with a CAGR of +16.9%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Malaysia ($X), Singapore ($X) and Cambodia ($X) constituted the countries with the highest levels of exports in 2021, with a combined 81% share of total exports. These countries were followed by Myanmar, Indonesia, Thailand and Vietnam, which together accounted for a further 18%.

In terms of the main exporting countries, Myanmar, with a CAGR of +17.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, with an increase of 12% against the previous year. In general, the export price, however, continues to indicate a pronounced setback. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Malaysia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+2.4%), while the other leaders experienced mixed trends in the export price figures.

Soya Bean Imports

Imports in South-Eastern Asia

In 2021, purchases abroad of soya beans decreased by -0.7% to X tons for the first time since 2018, thus ending a two-year rising trend. Total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +71.2% against 2013 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 22%. Over the period under review, imports attained the maximum at X tons in 2020, and then contracted slightly in the following year.

In value terms, soya bean imports surged to $X in 2021. Total imports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +57.0% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Thailand (X tons) represented the major importer of soya beans, committing 43% of total imports. Indonesia (X tons) held a 27% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (21%) and Malaysia (6.7%). The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in the Philippines (with a CAGR of +11.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Indonesia ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2021, with a combined 91% share of total imports. Malaysia and the Philippines lagged somewhat behind, together accounting for a further 8.2%.

Among the main importing countries, the Philippines, with a CAGR of +15.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, increasing by 38% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the Philippines ($X per ton) and Indonesia ($X per ton), while Vietnam ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+4.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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