20 Largest Agricultural Exporters in the World
In this article, we discuss the 20 largest agricultural exporters in the world. If you want to read about other largest agricultural exporters in the world, go directly to 5 Largest Agricultural Exporters in the World.
In 2022, global agricultural exports reached a historic high, surpassing $2 trillion for the first time, representing a 7.4% increase from 2021. The top 20 supplier countries collectively accounted for 69.8% of global food exports in 2022, up from 67.9% in 2021. Agroexport reported significant shifts in the global food export structure last year. Grain crops emerged as the leading category with an 8.8% share, witnessing a 16% revenue increase to $178 billion. Fats and oils followed in second place, experiencing an 18% jump to $173 billion. Meat products, on the other hand, dropped to third place with a total of $163 billion, recording a 7% growth.
Countries like the U.S., Canada, and Western Europe prioritize advanced infrastructure and technology, including widespread irrigation and genetically modified seeds, to optimize agricultural productivity. In contrast, Africa and much of South Asia face challenges with underdeveloped infrastructure and inadequate irrigation, leading governments to focus on improving infrastructure and promoting the use of essential inputs like fertilizers for enhancing agricultural output.
Agriculture plays a vital role in the global economy, especially in underdeveloped countries where it serves as the primary source of labour, income, and food. The Food and Agriculture Organization (FAO) reports that agriculture engages 67% of the world's population, contributing 39.4% to the Gross Domestic Product (GDP) and accounting for 43% of total exports, encompassing agricultural goods. Approximately 11% of the world's land is dedicated to agriculture, while about 26% is utilized for grazing animals.
Companies that offer products aimed at increasing agricultural yields, such as agricultural equipment, fertilizers, herbicides, and genetically modified seeds, are likely to see an uptick in demand due to the importance of boosting production in the agriculture sector. Currently, many such companies are working to meet the needs of farmers worldwide and revolutionize the agricultural sector. Some of biggest names are Deere & Company (NYSE:DE), Corteva, Inc. (NYSE:CTVA), and Archer-Daniels-Midland Company (NYSE:ADM).
Deere & Company (NYSE:DE)
Deere & Company (NYSE:DE) is a prominent American agricultural equipment brand that is involved in providing agricultural, construction, and forestry equipment. The company focuses on defining, developing, and delivering global equipment and technology solutions.
Lately, Deere & Company has performed well financially, exceeding analyst EPS estimates in all four of its recent quarters. In the twelve months ending January 28, 2024, the company reported revenue of $60.79 billion, displaying a 9.21% year-over-year growth.
Corteva, Inc. (NYSE:CTVA)
Corteva, Inc. (NYSE:CTVA) is a diversified agriculture raw materials company that specializes in selling seeds, herbicides, and related products. As a global pure-play agriculture company, Corteva is dedicated to providing seed and crop protection solutions for the agriculture industry to enhance the food supply.
Despite challenges faced by some industry peers, Corteva, Inc. has exceeded analyst EPS estimates in three out of its four most recent quarters. Following its latest earnings report, the company's shares experienced an 18% increase. In the twelve months ending December 31, 2023, Corteva reported revenue of $17.23 billion, showing a slight decrease of -1.31% year-over-year.
Archer-Daniels-Midland Company (NYSE:ADM)
Archer-Daniels-Midland Company (NYSE:ADM) operates downstream in the agriculture supply chain as a commodity broker linking farmers to markets. The company recorded revenue of $93.94 billion in the twelve months ending December 31, 2023, showing a decline of -7.50% year-over-year. In February 2024, the company is facing controversy as reports suggest it is under investigation by the Justice Department for suspected accounting irregularities following the resignation of its CFO in January.
A farmer tending to his crops in a field, with a fertiliser bag nearby.
Methodology
For compiling a list of the 20 Largest Agricultural Exporters in the World, data was sourced from The Food and Agriculture Organization (FAO). Utilizing their data on exports of crops and livestock products by value, the total value of agricultural exports for the year 2022 was calculated. This comprehensive approach allowed for the summation of exports from each country across all agricultural products under the category, resulting in a ranking of the 20 largest agricultural exporters in the world.
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20. Russia
Export Value in 2022: $22,052,836,000
20th on our list of largest agricultural exporters in the world is Russia. In Russia, approximately 13% of farmland is dedicated to sugar beet, wheat, and potatoes production, with rye, barley, oats, and maize being the primary cereals cultivated. Russia, predominantly an industrial economy, also possesses a significant agricultural sector, contributing around 6% to the country's overall GDP.
Agriculture in Russia provides about 16% of total job opportunities. The country cultivates nearly 23 million hectares of land, with grain agriculture occupying roughly half of the farmed land area and accounting for 70% of the country's grain production. Wheat stands out as Russia's most important food crop.
19. Turkey
Export Value in 2022: $28,575,186,000
Turkey's agriculture sector dominates the workforce, while industrial and service sectors are growing rapidly. The country is self-sufficient in food production due to favourable climate, fertile soil, and abundant rainfall. Major crops include wheat, sugar beet, milk, and cattle. Agriculture employed about 19.2% of the population in 2018. Turkey is the largest producer of apricots, figs, raisins, and hazelnuts globally, ranking high in grape, vegetable, and tobacco production.
18. United Kingdom
Export Value in 2022: $30,041,997,000
Agricultural production plays a minor role in the overall value of the U.K. economy, contributing less than 1 percent. This suggests that while agriculture remains a significant sector, its direct economic impact is relatively limited.
In 2022, the U.K. faced substantial reliance on imports in its agricultural sector, importing a substantial $92.1 billion worth of agricultural goods. However, the value of agricultural exports fell significantly short, accounting for less than half of the total value of imports.
United Kingdom is 18th on our list of largest agricultural exporters in the world.
17. Malaysia
Export Value in 2022: $35,807,843,000
Malaysia is a notable exporter in the agricultural sector, with a diverse range of products contributing to its export profile. The country's tropical climate and fertile land make it conducive to cultivating various crops and raising livestock. Malaysia is one of the world's largest producers and exporters of palm oil followed by rubber.
16. Mexico
Export Value in 2022: $44,556,147,000
Agriculture holds historical and political significance in Mexico's economy. Contrary to its historical relevance, agriculture contributes relatively little to Mexico's GDP. Mexico has a history of producing avocados, beans, tomatoes, peppers, maize, and other crops. The country is recognized for its agricultural exports. Crop production plays a central role in Mexican agriculture, constituting more than 10% of total output.
15. Thailand
Export Value in 2022: $46,041,656,000
Thailand holds a prominent position as a major food exporter, with rice being the primary export, making up approximately 17.5% of all food exports. It is the world's top exporter of tapioca products, rubber, canned tuna, and canned pineapple. Thailand's key export markets include Japan, China, Vietnam, Indonesia, Myanmar, Cambodia, Malaysia, and the Philippines.
14. Argentina
Export Value in 2022: $50,519,692,000
Argentina is a leading agricultural exporter, known for soybeans, corn, wheat, and beef. Its diverse produce includes fruits, wine, and dairy. Agriculture drives its economy, contributing to GDP and trade balance. Renowned for quality, Argentina's exports play a crucial role in global markets, supplying food and commodities worldwide.
13. Australia
Export Value in 2022: $51,217,219,000
Western Australia is a significant exporter, sending around 80% of its agricultural output abroad. The region is known for its safe, high-quality products including grains, meat, fruits, vegetables, dairy, processed foods, and live animals. These exports position Western Australia as a key player in the global agricultural market. Australia is 13th on our list of largest agricultural exporters in the world.
12. Belgium
Export Value in 2022: $ 55,258,737,000
Belgium, although relatively small in size, boasts a diverse and productive agricultural sector. The country is known for its production of a variety of agricultural products, including grains, potatoes, fruits (such as apples and pears), vegetables, and livestock (including pork and dairy). Additionally, Belgium is renowned for its chocolate and beer industries, which utilize agricultural ingredients such as cocoa and hops. Despite its size, Belgium plays a significant role in the European agricultural market and is recognized for its high-quality agricultural products.
11. India
Export Value in 2022: $ 57,016,822,000
Agriculture is a significant source of livelihood for around 58% of the Indian population. It serves as the primary income source for half of them and contributes approximately 17-18% to India's GDP. India leads the global production of various fruits and vegetables like bananas, guava, mangoes, lemons, papayas, and chickpeas. The country is also a major producer of spices such as ginger, pepper, and chili.
10. Indonesia
Export Value in 2022: $57,263,589,000
Indonesia holds a prominent position as a leading agricultural exporter globally in 2022, chiefly due to its status as the largest producer and exporter of palm oil. With an annual production of approximately 46 million metric tons, Indonesia exports palm oil worth $17 billion annually. This significant export volume is facilitated by the fact that over 90% of the world's palm oil trees are concentrated in Indonesia and Malaysia combined.
9. Italy
Export Value in 2022: $61,821,763,000
Italy, despite its relatively small size, is a major player in the global agricultural sector. Renowned for its high-quality products and diverse cuisine, Italy produces a variety of agricultural goods. These include staples such as wheat, corn, and rice, as well as specialty crops like olives (for olive oil), grapes (for wine), and tomatoes. Italy's dairy industry produces a wide range of cheeses, and its meat industry includes products such as prosciutto and salami. Italy is 9th on our list of largest agricultural exporters in the world.
8. Spain
Export Value in 2022: $64,529,784,000
Spain is a major global agricultural producer, renowned for high-quality fruits, vegetables, olives (for olive oil), and wine. Its pork industry, including jamón ibérico, is also notable. Agriculture significantly contributes to Spain's economy and cultural identity, supporting rural livelihoods and international trade.
7. Canada
Export Value in 2022: $65,091,885,000
Canada boasts a diverse and robust agricultural sector. The country is a significant global producer of wheat, canola, barley, and other grains. It is also known for its high-quality dairy, beef, and pork products. Canada's vast expanses of fertile land and advanced farming techniques contribute to its agricultural success.
6. China
Export Value in 2022: $78,036,444,000
China, with 7% of the world's arable land, manages to support 22% of the global population. China is the largest producer and exporter of garlic, with an annual production exceeding 23 million tons. Over the twentieth century, China faced challenges in feeding its large population. However, the country has continuously improved its agricultural policies and technologies, achieving substantial self-sufficiency and growth. China is 6th on our list of largest agricultural exporters in the world.
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Disclosure: None. 20 Largest Agricultural Exporters in the World is originally published on Insider Monkey.
