Key Market Indicators
Indian demand for Soybean Oil is expected to reach 3.1 million metric tons by 2026, up 0.9% on average year-on-year from 2021. Since 2017, Indian demand has increased by 2.3% year-on-year. India was the third-largest consumer in 2021, behind China's 2.97 million metric tons. China, India and Brazil took the top three spots in the ranking. Meanwhile, Indian Soybean Oil Production is forecast to reach 1.45 million metric tons by 2026, growing 0.1% annually on average from 2021. Since 1966, Indian production has increased 6.5% year-on-year. India was the fifth-largest producer in 2021, behind Argentina's 1.45 million metric tons. The United States, Brazil and Argentina held the next three places in the ranking.
