Key Market Indicators
Demand for soybean oil in Barbados is projected to remain nearly unchanged over the next five years, falling by 0.6% year-on-year on average. In 2021, Barbados was ranked 102nd in the world for soybean oil consumption, at 1 thousand metric tons, compared to Rwanda at the top with 1 thousand metric tons. China, India and Brazil were the 2nd, 3rd, and 4th largest consumers, respectively. Meanwhile, production of soybean oil in Barbados is expected to grow by 1.5% year-on-year on average, from 5,350 metric tons in 2021 to 5,840 metric tons in 2026. Since 1996, the country's supply has increased by 1.4% year-on-year, and in 2021, Barbados was ranked 66th for production, with Ecuador ahead of them at 5,350 metric tons. The United States, Brazil, and Argentina were the 2nd, 3rd, and 4th largest producers, respectively.
