Key Market Indicators
Consumption of soybean oil in the Philippines is expected to increase to 30,300 metric tons by 2026, up 2% from 27,000 metric tons in 2021. From 2017 to 2021, demand for soybean oil grew at an average of 2.6% every year. In 2021, the Philippines was ranked 56th, with Mauritania in front with 27,000 metric tons. China, India and Brazil took the second, third and fourth spots in the ranking. Production of soybean oil in the Philippines is expected to increase to 42,860 metric tons by 2026, up 3% from 35,780 metric tons in 2021. Since 1966, supply has increased by 13% on average every year. In 2021, the Philippines was ranked 42nd, with North Korea leading with 35,780 metric tons. The United States, Brazil and Argentina took the second, third and fourth spots in the ranking.
