Global Market Report: Soybeans

The report examines the global soybean market, noting that production is highly concentrated in the US, Brazil, and Argentina, with demand driven by meat consumption and Asia. It highlights significant environmental and social risks, including deforestation in the Amazon and Cerrado biomes and the use of GM crops. While voluntary sustainability standards (VSSs) aim to mitigate these risks, their adoption remains low, representing only 1.8% of global production in 2018. The report identifies potential for VSS growth in LHDCs like Nigeria and Benin, though challenges such as mechanization and market competition persist.

• Soybean production is highly concentrated, with the United States, Brazil, and Argentina accounting for 80% of total production in 2017. Large-scale private plantations dominate the sector, with large-scale farmers accounting for over 80% of total production.
• Global demand for soybeans is primarily driven by meat consumption and the growing middle class in emerging economies, particularly in Asia. China is the world's largest importer and accounted for nearly two-thirds of global demand growth over the last decade.
• Soybean cultivation is linked to severe environmental degradation, including soil erosion, nutrient depletion, and massive deforestation. In the Cerrado biome, an estimated 22 million hectares of native vegetation were deforested between 2006 and 2017 due to beef and soybean expansion, releasing 210 million tonnes of CO2 equivalent emissions.
• The adoption of voluntary sustainability standards (VSSs) remains very low. VSS-compliant soybeans accounted for only 1.62% of the market in 2016, increasing slightly to 1.8% of total global production in 2018.
• The soybean market faces significant social challenges, including land grabbing and labor exploitation. In Paraguay, 71.3% of soybean plantations are controlled by only 1% of large-scale farmers, and reports of modern slavery have emerged from Brazilian plantations.
• There is potential for expanding VSS-compliant production in Low Human Development Countries (LHDCs), with Nigeria and Benin identified as having the most potential for growth based on production share, VSS presence, and HDI values.
• Climate change is projected to negatively impact yields, with World Bank modelling estimating that soybean yields in Brazil could drop by 30% or more by 2050.

APA

Voora, V., Larrea, C., & Bermudez, S. (2020). Global Market Report: Soybeans. International Institute for Sustainable Development. https://www.iisd.org/system/files/2020-10/ssi-global-market-report-soybean.pdf

Chicago

Voora, Vivek, Cristina Larrea, and Steffany Bermudez. Global Market Report: Soybeans. International Institute for Sustainable Development, 2020. https://www.iisd.org/system/files/2020-10/ssi-global-market-report-soybean.pdf.

Wikipedia

{{cite report |last1=Voora |first1=Vivek |last2=Larrea |first2=Cristina |last3=Bermudez |first3=Steffany |title=Global Market Report: Soybeans |publisher=International Institute for Sustainable Development |date=October 2020 |url=https://www.iisd.org/system/files/2020-10/ssi-global-market-report-soybean.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{voora2020global, author = {Voora, Vivek and Larrea, Cristina and Bermudez, Steffany}, title = {{Global Market Report: Soybeans}}, institution = {International Institute for Sustainable Development}, year = {2020}, month = oct, url = {https://www.iisd.org/system/files/2020-10/ssi-global-market-report-soybean.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }