Key Market Indicators
Malaysian soybean oil consumption is expected to rise to 92 thousand metric tons by 2026 – up from 83 thousand metric tons in 2021. On average, demand has increased by 1.7% year on year since 2017. Malaysia ranked 32nd globally in 2021, with Nigeria coming in at number one with 83 thousand metric tons. China, India and Brazil respectively occupied second, third and fourth places in the ranking. Meanwhile, Malaysian soybean oil production is projected to fall slightly to 101,320 metric tons by 2026, from 102,840 metric tons in 2021. Since 1966, production has declined by 3.2% year on year. The country ranked 32nd globally in 2021, with Nigeria taking the top spot with 102,840 metric tons. The United States, Brazil and Argentina held second, third and fourth positions in the ranking.
