Key Market Indicators
Chilean demand for soybean oil is forecast to reach almost 40 thousand metric tons by 2026, growing at a rate of 0.3% each year. This marks a change from 2017, where the demand remained steady. In 2021, Chile ranked 48th in terms of soybean oil consumption, lagging behind Mozambique's 39 thousand metric tons. China, India and Brazil respectively ranked 2nd, 3rd and 4th in this ranking. Meanwhile, production of soybean oil in Chile is set to reach 24,230 metric tons by 2026, growing at a CAGR of 2%. Since 1966, supply has increased by 4.1% annually. In 2021, Chile came in 50th place, with Kazakhstan ahead at 21,540 metric tons. The United States, Brazil and Argentina respectively held the 2nd, 3rd and 4th spots in this ranking.
