Vostokgosplan FANU experts analyzed soybean production, consumption and foreign trade turnover in Russia and the world and came to the conclusion that the world soybean market is growing steadily amid increasing demand from livestock, biodiesel and food production. At the same time, soybean production in Russia is developing at a faster pace than in the rest of the world.

Thus, over the past decade the gross yield of soybeans in the world grew by 36.7% and in 2020 amounted to 356.7 mln tons, 1.2% of which was produced in Russia. The growth of global soybean production is ensured both by increasing planted acreage and by increasing crop yields. Since 2010, the area under crops has grown by 23.3% to 127.8 million hectares (Russia’s share is 2.1%). Yield by the end of 2020 was 27.9 c/ha — one of the highest values for 10 years (in Russia, according to international statistics — 15.9 c/ha).

At the same time, cultivated area of soybean in Russia increased 2.4 times to 2.9 million hectares in 2020, and its gross yield grew 3.7 times to 4.5 million tons by the end of 2020.

It should be noted that more than 33% of the gross yield of soybeans in Russia accounts for the Far East, with the Amur Region traditionally ranking first among the regions producing soybeans and oilseeds.

Read more about this and more in the attached digest «Soybean in Russia and the World: production, domestic consumption and foreign trade turnover,» prepared by FANU Vostokgosplan.

Digest «Soybean in Russia and the world: production, domestic consumption and foreign trade turnover».