Canada’s soy exports are up 3.1 per cent to $1.2 billion

Canada’s exports of soy products rose 3.5 per cent in January to $2.5 billion, according to data released Tuesday by the Canadian Soy Association.

Canada’s imports of soy grew by 3.4 per cent, with shipments rising to $7.1 billion in January.

That is up from the $6.4 billion in the same period last year.

Canada’s soy imports rose by 5.3 per cent.

The country also has the second-largest soy production in the world, with the United States contributing more than 40 per cent of total production.

The United States imports more than twice as much soy as Canada.

Canada exports soy to Europe and Asia, where it’s grown to be the second largest producer behind the United Kingdom.

Canada has been exporting soy to South America since 2010.