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World Soybean Production: Area Harvested, Yield, and Long-Term Projections

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  • Masuda, Tadayoshi
  • Goldsmith, Peter D.

Abstract

Soybeans (Glycine max) serve as one of the most valuable crops in the world, not only as an oil seed crop and feed for livestock and aquaculture, but also as a good source of protein for the human diet and as a biofuel feedstock. The world soybean production increased by 4.6% annually from 1961 to 2007 and reached average annual production of 217.6 million tons in 2005-07. World production of soybeans is predicted to increase by 2.2% annually to 371.3 million tons by 2030 using an exponential smoothing model with a damped trend. Finally, three scenarios and their implications are presented for increasing supply as land availability declines. The scenarios highlight for agribusiness policy makers and managers the urgent need for significant investments in yield improving research.

Suggested Citation

  • Masuda, Tadayoshi & Goldsmith, Peter D., 2009. "World Soybean Production: Area Harvested, Yield, and Long-Term Projections," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 12(4), pages 1-20, November.
  • Handle: RePEc:ags:ifaamr:92573
    DOI: 10.22004/ag.econ.92573
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    References listed on IDEAS

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    1. Matin Qaim, 2009. "The Economics of Genetically Modified Crops," Annual Review of Resource Economics, Annual Reviews, vol. 1(1), pages 665-694, September.
    2. Matin Qaim & Alain de Janvry, 2003. "Genetically Modified Crops, Corporate Pricing Strategies, and Farmers' Adoption: The Case of Bt Cotton in Argentina," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(4), pages 814-828.
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    Cited by:

    1. Krishna, Vijesh V. & Erenstein, Olaf & Sadashivappa, Prakash & Vivek, B. S., 2014. "Potential Economic Impact of Biofortified Maize in the Indian Poultry Sector," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 17(4), pages 1-30, November.
    2. Julián Benitez & Roger Domecq, 2014. "Analysis of meteorological drought episodes in Paraguay," Climatic Change, Springer, vol. 127(1), pages 15-25, November.
    3. J. Jed Brown & Probir Das & Mohammad Al-Saidi, 2018. "Sustainable Agriculture in the Arabian/Persian Gulf Region Utilizing Marginal Water Resources: Making the Best of a Bad Situation," Sustainability, MDPI, vol. 10(5), pages 1-16, April.
    4. Henseler, Martin & Piot-Lepetit, Isabelle & Ferrari, Emanuele & Mellado, Aida Gonzalez & Banse, Martin & Grethe, Harald & Parisi, Claudia & Hélaine, Sophie, 2013. "On the asynchronous approvals of GM crops: Potential market impacts of a trade disruption of EU soy imports," Food Policy, Elsevier, vol. 41(C), pages 166-176.
    5. Ahmadzadeh Araji, Hamidreza & Wayayok, Aimrun & Massah Bavani, Alireza & Amiri, Ebrahim & Abdullah, Ahmad Fikri & Daneshian, Jahanfar & Teh, C.B.S., 2018. "Impacts of climate change on soybean production under different treatments of field experiments considering the uncertainty of general circulation models," Agricultural Water Management, Elsevier, vol. 205(C), pages 63-71.
    6. Milazzo, M.F. & Spina, F. & Cavallaro, S. & Bart, J.C.J., 2013. "Sustainable soy biodiesel," Renewable and Sustainable Energy Reviews, Elsevier, vol. 27(C), pages 806-852.
    7. Zahid Akram & Qadeer Ahmad, 2019. "Future Prospects of Soybean in Pakistan," Biomedical Journal of Scientific & Technical Research, Biomedical Research Network+, LLC, vol. 15(4), pages 11562-11563, March.
    8. Masuda, Tadayoshi & Goldsmith, Peter D., 2012. "China's Meat and Egg Production and Soybean Meal Demand for Feed: An Elasticity Analysis and Long-Term Projections," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 15(3), pages 1-20, September.

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