Oilseed Farming Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 9/28/2020
SIC Codes: 0116, 0119
NAICS Codes: 11111, 11112
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Oilseed Farming Industry Profile

Companies in this industry grow and harvest soybeans and other oilseed-producing plants, such as sunflower, safflower, flax, sesame, and canola (also known as rapeseed). No major companies dominate the industry.

Worldwide, the 2019/2020 oilseed production totals about 575 million metric tons according to Statista. The US Department of Agriculture estimates that the 2019/20 global oilseed production remains at 577 million tons and forecasts that the 2020/21 global oilseed production will reach 609 million tons. Soybeans are by far the largest oilseed crop, accounting for about 60% of global production. Soybean production is concentrated in the Americas. Top soybean exporters include Brazil, the US, and Argentina. The US exports about half of its soybean production. China is by far the top destination for US soybeans; hence, the US exported 16.3 million tons of soybeans to China and 28.7 million tons to other countries in 2019/20. Other top destinations for US exports include Mexico, the Netherlands, Japan, and Indonesia.

The US oilseed farming industry includes about 310,000 farms, about 90,000 of which generate the majority of their revenue from oilseeds, with combined annual revenue of about $38 billion.

COMPETITIVE LANDSCAPE

Demand is driven by trends in food consumption. The profitability of individual companies depends on efficient operations. Large companies have advantages in purchasing land and equipment. Small operations can compete effectively by specializing in organic and heirloom oilseeds. The US industry is concentrated: the ...

 
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