Soybeans: import volume worldwide 2023/24, by country

Soybean is among the major oilseed and protein meal products. In the 2022/2023 period, around 171.95 million metric tons of soybeans were imported globally. China was by far the leading importer of soybeans, with an annual import volume of approximately 100 million metric tons in that year. 

Global overview

Soybeans are grown as a food crop in Eastern Asia and are produced in Western agriculture as a source of both oil and protein. Although the United States and Brazil are the main producers of soybeans, China leads the soybean oil production worldwide..

Soybean market in the US

Annual soybean production in the United States has increased to over 4.2 billion bushels in the past few years. Illinois topped the list of major soybean producing U.S. states in 2022, with over 677 million bushels produced that year.