Brazil: soybean production volume 2010-2022

Soybean production in Brazil was forecast to reach around 124 million metric tons in crop year 2021/2022, a decrease of around 10 percent in comparison to the previous period. Since the beginning of the decade, the South American country's annual production of this oilseed increased by nearly 65 percent.

Soybean in Brazil

Soybean is one of the most important crops in Brazilian agriculture, comprising more than a third of the sector’s production value in 2020. In the global scenario, Brazil surpassed the U.S. in the 2019/2020 crop year after years as the runner-up to become the largest producer of this oilseed. According to forecasts, soybean production in Brazil is set to keep increasing in the next decade, reaching more than 140 million tons by 2029.

Uses of soybean

This commodity's importance is at least partially related to its versatility in consumption. Possibly its most widely recognized application, soy can be used as an alternative protein source in plant-based diets, and as a base for processed products, such as soymilk. Meanwhile, soybean meal is used as livestock feed. Outside the agriculture and food segment, soybean oil is also the leading raw material used in the production of biodiesel in Brazil.