Key Market Indicators
Indonesia's soybean consumption is expected to increase slightly to 360,000 metric tons by 2026, up from 349,000 metric tons in 2021. This marks an average yearly growth rate of 0.5%. Since 2017, demand has grown at a rate of 0.4% each year. In 2021, Indonesia was the sixth-largest consumer, with India overtaking it at 349,000 metric tons. Vietnam, Japan, and Pakistan took second, third, and fourth place, respectively. Indonesian soybean production is also projected to grow slightly to 946,480 metric tons by 2026, up from 923,020 metric tons in 2021. This marks a yearly average growth rate of 0.4%. Since 1966, supply has increased by 1.4% annually. In 2021, Indonesia was the fourteenth-largest producer, with Italy ahead at 923,020 metric tons. The United States, Argentina, and China took second, third, and fourth place, respectively.