Spain: Soya Bean Market 2025

Soya Bean Market Size in Spain

In 2021, the Spanish soya bean market increased by 38% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Soya Bean Production in Spain

In value terms, soya bean production rose slightly to $X in 2021 estimated in export price. In general, production recorded a prominent increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 99%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

The average yield of soya beans in Spain stood at X tons per ha in 2021, growing by 1.7% against 2020 figures. The yield figure increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 18% against the previous year. Over the period under review, the average soya bean yield reached the peak level at X tons per ha in 2019; however, from 2020 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 total area harvested in terms of soya beans production in Spain rose modestly to X ha, surging by 4.1% compared with 2020. Over the period under review, the harvested area recorded a prominent increase. The most prominent rate of growth was recorded in 2017 when the harvested area increased by 70%. As a result, the harvested area attained the peak level of X ha. From 2018 to 2021, the growth of the soya bean harvested area failed to regain momentum.

Soya Bean Exports

Exports from Spain

After four years of decline, overseas shipments of soya beans increased by 99% to X tons in 2021. Over the period under review, exports, however, saw a noticeable shrinkage. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, soya bean exports surged to $X in 2021. Overall, exports, however, recorded a perceptible downturn. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for soya bean exports from Spain, with a 65% share of total exports. Moreover, soya bean exports to Turkey exceeded the volume sent to the second major destination, Portugal (X tons), twofold. France (X tons) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey stood at +101.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-16.9% per year) and France (+10.7% per year).

In value terms, Turkey ($X) emerged as the key foreign market for soya bean exports from Spain, comprising 62% of total exports. The second position in the ranking was taken by Portugal ($X), with a 22% share of total exports. It was followed by France, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value to Turkey totaled +92.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-18.4% per year) and France (+21.5% per year).

Export Prices by Country

The average soya bean export price stood at $X per ton in 2021, increasing by 17% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 41% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Portugal ($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 France (+9.8%), while the prices for the other major destinations experienced a decline.

Soya Bean Imports

Imports into Spain

Soya bean imports into Spain expanded markedly to X tons in 2021, increasing by 7.3% on the previous year. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2017 with an increase of 7.7%. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, soya bean imports surged to $X in 2021. Overall, imports showed a relatively flat trend pattern. 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 soya bean supplier to Spain, with a 66% share of total imports. Moreover, soya bean imports from Brazil exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was held by Canada (X tons), with a 3.2% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.4% per year) and Canada (+9.3% per year).

In value terms, Brazil ($X) constituted the largest supplier of soya bean to Spain, comprising 68% of total imports. The second position in the ranking was held by the United States ($X), with a 26% share of total imports. It was followed by Canada, with a 2.9% share.

From 2012 to 2021, the average annual growth rate of value from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+8.4% per year) and Canada (+9.9% per year).

Import Prices by Country

In 2021, the average soya bean import price amounted to $X per ton, rising by 44% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Paraguay ($X per ton) and Brazil ($X per ton), while the price for Ukraine ($X per ton) and Canada ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :