World soybean consumption expected to grow 26% by 2026

World consumption of soybeans is expected to reach 383 million tonnes in 2026, a 26% increase [+78 million tonnes] on the volume consumed in 2016 [305 million tonnes], Farsul study projections point out, based on data from the United States Department of Agriculture (USDA).

Coordinated by Farsul's chief economist, Antônio da Luz, the document points out that demand is expected to grow in all major continents, particularly Asia. Consumption in Asia is expected to increase by 64% by 2026, an increase of 49.51 million tonnes over the 2016 figure.

Considering the same basis of comparison, demand is expected to grow 31% in the Americas [+24.3 million tons], 3% in Africa [+2.5 million tons] and 2% in Europe [+1, 5 million tonnes].

Posted by: Marina Carvejani