Key Market Indicators
South Africa's consumption of soybean oil is due to reach almost 300,000 metric tons in 2026, a slight 1% increase from 2021. For the past four years, demand has grown at a rate of 1.4% annually. In 2021, Italy was the largest consumer at 279,000 metric tons, while South Africa ranked 17th. China, India and Brazil followed in the ranks. Meanwhile, South African production of soybean oil is expected to climb 3.3% year on year to reach 252,000 metric tons by 2026. Since 1966, output has increased by almost 5% annually. Bangladesh was in the lead in 2021 with 207,000 metric tons, followed by the United States, Brazil and Argentina.
