Key Market Indicators
Namibian soybean oil consumption is projected to reach 1.4 million metric tons by 2026. This would be an increase of 4.2% from the 1 million metric tons consumed in 2021. Since 2019, demand for soybean oil in Namibia has remained relatively stable. In 2021, the country ranked 102nd in terms of soybean oil consumption, with Latvia coming in ahead at 1 million metric tons. China, India and Brazil followed in the rankings at 2, 3 and 4 respectively.
