Key Market Indicators
Spanish consumption of soybean oil is expected to hit 197,000 metric tons by 2026, a growth of 2.3% annually since 2021. Since 2017, demand has increased 4.3% annually. In 2021, Spain ranked 21st in the world, with Morocco coming in ahead at 170,000 metric tons. China, India, and Brazil were numbers two, three, and four respectively. Production of soybean oil in Spain is predicted to reach 603,080 metric tons by 2026, an increase of 0.5% annually since 2021. Since 1966, Spanish supply has risen 0.6% each year. In 2021, the country ranked 11th in the world, with Germany coming in ahead at 583,870 metric tons. The United States, Brazil, and Argentina were numbers two, three, and four in this ranking.
