Product intelligence · HS 120190 · 2024 data

Soya beans: other than seed, whether or not broken

Global exports of soya beans: other than seed, whether or not broken totalled $80,826,097,530 in 2024, a -13.1% change from the previous year. Traded by 143 countries across 1,990 bilateral corridors, with demand from 191 importing markets. The long-term trend is stable.

Data: OECD BIMTS · Coverage: 19952024 · Updated: 2026-07-17

Global trade

$80.8B

-13.1% YoY

3Y / 5Y CAGR

-0.4%

5Y: +7.9%

Supply structure

Concentrated

HHI 0.381

Volatility

Low

Score 7/100

1.

Market movement

In 2024, soya beans: other than seed, whether or not broken trade exhibited significant decline, with global flows reaching $80,826,097,530 and a three-year compound annual growth rate of -0.4% (five-year: +7.9%). The all-time peak of $94,387,008,199 was recorded in 2022; the current level is 14% below that high-water mark.

Over the 30-year observation window (19952024), 66% of years recorded positive growth, indicating a predominantly expanding market. Trend momentum is decelerating (-3.5% acceleration).

2.

Supply & demand structure

The supply side is concentrated (Herfindahl-Hirschman Index 0.381). The three largest exporters — Brazil ($44.0B), United States ($23.9B), and Paraguay ($3.6B) — collectively dominate supply flows. The leading exporter has grown at +2.6% over the last three years.

On the demand side, importer concentration is concentrated (HHI 0.357). The three largest import markets are China ($47.8B), Argentina ($3.0B), and Mexico ($3.0B). The largest importing market sources from 22 different supplying countries.

The dominant trade corridor is Brazil → China at $32.2B, representing 67.5% of the importer's total demand.

3.

Risk profile & trade outlook

The volatility score for soya beans: other than seed, whether or not broken is 7 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, contracting demand signals caution before committing resources. The concentrated supply structure suggests high barriers but also potential opportunity if dominant suppliers face disruption or capacity constraints.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.

Historical evidence

Annual trade value 19952024

Peak: $94,387,008,199 in 2022. Currently 14% below peak.

YearGlobal trade (USD)YoY growth
2015$51,686,797,868-12.5%
2016$51,499,490,482-0.4%
2017$57,838,720,104+12.3%
2018$59,636,358,717+3.1%
2019$55,178,599,439-7.5%
2020$62,924,831,738+14.0%
2021$81,683,350,751+29.8%
2022$94,387,008,199+15.6%
2023$93,015,027,042-1.5%
2024$80,826,097,530-13.1%

Top exporting countries

Ranked by export value of soya beans: other than seed, whether or not broken in 2024.

View all 143 exporters →

Top importing markets

Largest import destinations for soya beans: other than seed, whether or not broken.

View all 191 markets →

Leading trade corridors

Largest bilateral export flows for soya beans: other than seed, whether or not broken, ranked by value. Click any country to view its full profile.

#ExporterImporterValue 20243Y CAGR
1BrazilChina$32.2B+4.3%
2United StatesChina$11.9B-6.5%
3ParaguayArgentina$2.7B+6.3%
4United StatesMexico$2.3B-4.8%
5ArgentinaChina$1.8B-1.5%
6BrazilThailand$1.5B+2.5%
7BrazilSpain$1.5B-0.8%
8United StatesIndonesia$1.2B+2.2%

Showing top 8 of 10 corridors with available data for 2024.

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Sources, definitions & methodology

Data source

OECD Bilateral International Merchandise Trade Statistics (BIMTS). Aggregated from 312M+ reported trade records across 200+ countries and 5,300+ HS6 product codes. Coverage: 19952024.

Key indicators

HHI (Herfindahl-Hirschman Index): market concentration, 0 = fully diversified, 1 = single player. CAGR: compound annual growth rate over a stated period. Volatility score: trade value variability, 0–100 scale.

How this page is made

All statistical content on this page is data-driven, composed programmatically from live OECD trade records. No generic AI-generated prose is used. Analytical paragraphs combine real data points with factual interpretation. This page was last refreshed on 2026-07-17.