Key Market Indicators
Serbian consumption of soybean oil is projected to rise to 5,000 metric tons by 2026 from 4,000 metric tons in 2021 – an average growth rate of 4.6% year-on-year. Since 2020, Serbia's demand has been steady, making it the 89th highest consumer in 2021 – just behind Slovenia's 4,000 metric tons. China, India, and Brazil ranked 2nd, 3rd, and 4th, respectively. Serbian production of soybean oil is expected to reach 55,270 metric tons by 2026 from 54,860 metric tons in 2021 – a CAGR of 0.1% year-on-year. Since 2011, Serbian supply has declined by 4.6% year-on-year, making it the 39th largest producer in 2021, just behind Lebanon's 54,860 metric tons. The US, Brazil, and Argentina ranked 2nd, 3rd, and 4th, respectively.
