Key Market Indicators
Vietnamese demand for Soybean Oil is predicted to decrease by 0.8% annually over the next five years. In 2021, the country consumed 79 thousand metric tons of Soybean Oil, making it the 34th largest consumer in the world. This is a decrease of 0.4% from the 2017 figures. Cuba ranked ahead of Vietnam, consuming 79 thousand metric tons that year. China, India, and Brazil respectively ranked second, third, and fourth in consumption. Vietnamese production of Soybean Oil is forecast to increase by 3.5% annually over the next five years. In 2021, the country produced 83,910 metric tons of Soybean Oil, making it the 33rd largest producer in the world. This is an increase of 11.2% from the 1966 figures. Malaysia overtook Vietnam in 2021, producing 83,910 metric tons. The United States, Brazil, and Argentina respectively ranked second, third, and fourth in production.
