Key Market Indicators
Soybean oil consumption in Panama is expected to reach nearly 20 thousand metric tons by 2026, growing by a modest 0.3% year-on-year, according to a report. Since 2017, demand has remained relatively stable. In 2021, Panama was the 62nd largest consumer of the oil, with Cambodia surpassing 19 thousand metric tons. China, India, and Brazil were the top three consumers of soybean oil in 2021, respectively. Panamanian soybean oil production is forecast to decline by 2.1% year-on-year to 5,840 metric tons by 2026. Since 2017, output has decreased by an average of 3.4% year-on-year. In 2021, the country ranked 62nd in production, with the Czech Republic surpassing 6,630 metric tons. The United States, Brazil, and Argentina were the top three producers of soybean oil in 2021.
