Market

[Olayiwola Danso]

Global Market Overview:

Market Growth: The global soybean market has demonstrated strong growth, increasing from $160.29 billion in 2024 to $169.68 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.9%. This expansion is driven by rising global demand, biofuel production, favorable weather conditions, and an expanding livestock industry.

As of March 28, 2025, the soybean market in Nigeria is influenced by several key factors, including production dynamics, demand fluctuations, price trends, and trade activities.​

Production and Supply:

In 2023, Nigeria’s soybean supply was recorded at 1.25 million metric tons, reflecting a steady upward trend from previous years. Projections indicate continued growth, with year-on-year increases of 2.4% in 2024 and 2.3% in 2025. Factors contributing to this growth include technological advancements in agriculture, supportive government policies, and evolving global market dynamics. ​

Demand and Consumption:

The demand for soybeans in Nigeria has shown significant growth, rising from 657,000 metric tons in 2014 to 858,000 metric tons in 2023. This upward trajectory is expected to continue, with projected year-on-year growth rates of 2.4% in 2024 and 2.3% in 2025. The increasing demand is driven by the expanding livestock industry, rising consumer awareness of soy-based products, and the growing use of soybeans in food and industrial applications.

[Md. Osman Sheikh]

The Indian soya bean market rose slightly to $11.2B in 2024, with an increase of 3.6% against the previous year.

[Chukwuemeka Christian Akoma]

Noted, thanks for the information

[Bello Bashir Bello]

Global soybean stocks in marketing year (MY) 2024/25 are forecast down 4.0 million metric tons to 124.3 million metric tons on lower production. Soybean production is lowered to 420.8 million metric tons with decreased production in both Argentina and Paraguay