Key Market Indicators
Australian demand for soybean oil is forecast to remain steady over the next five years, with consumption estimated to reach 10,000 metric tons by 2026. In 2021, Kuwait overtook Australia, pushing the country down to 76th in the global ranking. China, India and Brazil took the top three spots in 2021. Meanwhile, Australian soybean oil production is expected to fall by 10.7% year-on-year to 2,020 metric tons by 2026. Since 1966, supply has decreased by 9.1% year-on-year. In 2021, Sweden was ahead of Australia, pushing the country down to 72nd in the global ranking. The US, Brazil and Argentina took the top three spots in 2021.
