Key Market Indicators
Zambia's consumption of soybean oil is expected to reach 19,000 metric tons by 2026, up from 18,000 metric tons in 2021. This represents an annual growth rate of 0.9%. The demand has been steady since 2017 and Zambia ranked 64th in 2021; Panama was ahead with 18,000 metric tons. China, India, and Brazil were the top three countries in terms of consumption. Meanwhile, Zambia's production of soybean oil is forecast to reach 4,780 metric tons by 2026, up from 4,230 metric tons in 2021. This is equivalent to a 2.1% year-on-year growth rate. Since 1986, the supply has grown at an average rate of 2.8% per year. In 2021, Zambia was ranked 70th; Australia was ahead with 4,230 metric tons. The United States, Brazil, and Argentina were the top three countries in terms of production.
