DEspite Increasing trade tensions, China is still the main goal for US soybeans. In its latest weekly report, Shipbroker Banchero Costa Said that “Total Seaborne Exports of Soybeans in Calendar (Jan-Dec) 2024 Declined by -5.0% Year-On-Year to 142.3 mln Tonnes, Accining to Vessel Tracking Data from Axs Marine. This Was Was A Correction From the +10.2% Yoy Growth Recorded in 2023, and Global Trade Volumes were still higher than the 135.9 mln Tonnes in 2022 and 141.7 mln tons in 2021. Soybean is one of the most important dry bulk commodities, and contributes almost 5 percent of all dry bulk trade in the sea “.
Source: Bancha Costa
According to Banchero Costa, “The biggest soybean exporter so far is Brazil, which contributes 68.2% of global soybean exports based on the volume in the 2024 calendar. In Jan -Des 2024, the delivery of Brazil in Plizil. -16.5% Yo -y to 32.4 mln tons, this is the lowest volume at least one decade. The European Union contributed 9.2% of the global sea soybean import “.
The Shipbroker added that “Let’s now focus on the United States, which as we mentioned above is the second largest exporter of soybeans with a 22.8% Share. Top Soybean Loading Ports in the United States in 2024 Were: Reserve in Louisiana (6.7 MLN T IN JAN-DEC 2024), CONVENT IN Louisiana (5.9 mln T), New Orleans (3.2 mln T), Destrakan (2.5 mln T), Kalama (2.4 mln T), Baton Rouge (2.0 mln T), Seattle (1.7 mln T).
Source: Bancha Costa
“Uncomfortable, given the ongoing geopolitical situation, the main goal far from the American soybean is the mainland of China. The Chinese mainland contributed 55.1% of the total exports of soybeans in the sea in the US. From the United States to China decreased -27.1% yoy to Jan -Des 2024 to 17.9 mln tons, after the decline of -16.7% yoy to Jan -Des 2023. Soybean from the US. MLN TON. 2024 and +35.8% yoy in 2023 “.
Nikos Roussanoglou, Hellenic Shipping News worldwide
