Key Market Indicators
India's appetite for soybeans is set to increase over the next five years. Consumption is expected to reach 646,000 metric tons by 2026, up from 511,000 metric tons in 2021. This is an average growth of 3.7% year-on-year since 2017. Pakistan was the top consumer in 2021, followed by Vietnam, Japan, and India. India's production of soybeans will also increase over the next five years. It is estimated to reach 14.4 million metric tons by 2026, up from 13.3 million metric tons in 2021. This is a growth of 1.4% year-on-year since 1966. China was the largest producer in 2021, followed by the United States, Argentina, and India.
