Key Market Indicators
Demand for soybean oil in Hungary is expected to remain steady through 2026, with consumption totaling 6 thousand metric tons a year. Over the past four years, Hungarian demand has seen no significant change. In 2021, the country ranked 85th globally in soybean oil consumption, behind Fiji's 6 thousand metric tons. China, India, and Brazil took the top three spots in the ranking. Hungarian soybean oil production is forecasted to grow 3.2% annually on average through 2026, reaching 36 thousand metric tons that year. Since 1966, the country has seen a yearly increase of 11.8%. In 2021, Hungary came in 45th place worldwide, behind Venezuela's 29 thousand metric tons. The United States, Brazil, and Argentina were the top three producers.
