In 2023, domestic food consumption of soybean oil in Chile stood at 160.0 thousand metric tons. The forecast for 2024 indicates a consumption of 162.0 thousand metric tons, followed by a consistent increase to 164.0 in 2025, 166.0 in 2026, 168.0 in 2027, and 171.0 in 2028. This demonstrates a steady year-on-year growth rate of approximately 1.2% to 1.8%. The Compound Annual Growth Rate (CAGR) over this period is around 1.7%.
Future trends to watch for:
- Impact of any policy changes on soybean oil imports and domestic production.
- Potential shifts in consumer preference towards healthier oil alternatives.
- Influence of global soybean oil price fluctuations on domestic consumption.
