Trade

A Growing World Population Wants More Soybeans

Did you know that in 1970 there were fewer than half the number of people on the planet than there are today? It’s true – in 2000, approximately 6.15 billion people made up the world’s population. The United States Census Bureau currently estimates that number at more than 7.47 billion people. 

During the last 18 years, global soybean consumption has risen from approximately 5.9 billion to 12.9 billion bushels. If this trend continues, the world will need to produce an additional 3 billion bushels a decade from now. U.S. soybean farmers are already on pace to meet this challenge – having increased yields from 30 bushels an acre to nearly 50 in the last several decades.

These charts below show the amazing growth in soy consumption happening in countries you may not have expected. 

 

 

 

 

 

 

John Baize
John Baize

President

John Baize and Associates

Analyst John Baize leverages his 38 years of working the global market on behalf of soybeans and other farm products to predict trends and growth.