Key Market Indicators
Kazakhstan is set to see a slight drop in its soybean oil consumption by 2026. Demand for the product has been largely unchanged since 2017, and Kazakhstan currently ranks 85th in the world with 6 thousand metric tons consumed. Lithuania, however, is ahead of Kazakhstan, with 6 thousand metric tons consumed in 2021. China, India, and Brazil make up the top three countries in terms of soybean oil consumption. Kazakhstan is expected to see a 2.9% year-on-year increase in its soybean oil production by 2026. Since 1997, the production of soybean oil in Kazakhstan has grown by 8.2% year-on-year. In 2021, Myanmar led the way with 22,290 metric tons produced, while the United States, Brazil, and Argentina made up the top three countries.
