Economic Importance Of Soybean

Soybean glycine max also called soja bean or soya bean annual legume of the pea family fabaceae and its edible seed.

Economic importance of soybean. There are multiple benefits of cash and food. As shown in figure 1 the value of production for the crop and animal sectors have made roughly the same economic contributions dating back to 1990. There is an increment in the potential yield. Processed soybeans are the world s largest source of animal protein feed and the second largest source of vegetable oil.

The soybean industry is a key component of arkansas economy. The most important countries of. They are mainly used as. Soybeans increasingly are being employed as the modern input of choice for buyers.

1 1 economic and social impact of soybeans soybean crop is undoubtedly of a great economic and social importance worldwide. There is soil fertility amelioration. Since most soybeans and edamame vegetable soybeans are grown in the delta arkansas river valley and red river valley regions of the state these regions receive the greatest economic benefit from the soybean industry. The soybean is economically the most important bean in the world providing vegetable protein for millions of people and ingredients for hundreds of chemical products.

Soybean is an important source of food protein and oil and hence more research is essential to increase its yield under different conditions including stress. Data are drawn from the usda farm income and wealth statistics at the economic research service where analyst estimate the farm level value of crop and animal production by state and for the u s. The study brings to light the fact that soybeans fit well into the cropping system of poorer households because has a number of advantages. Soybean provides about 64 percent of the world s oilseed meal supply and is the major source of oil accounting for about 28 percent of total production usda 2000.

Conduct longitudinal and multilevel assessments to define the socio economic drivers for soybean adoption and sustainability among small and medium holders determine the influence of input availability and value chain linkages on soy production test the importance of credit availability and savings. The most important countries of the world with the highest rate of soybean production include the usa brazil argentina china and india.