India's import of crude soybean oil, expressed in billion US dollars, is forecasted to grow steadily from 2024 to 2028. Starting at 3.0878 in 2024 and projected to reach 3.4479 by 2028, these figures display consistent annual increments.
The year-on-year growth rates are approximately as follows:
- 2024 to 2025: 3.0%
- 2025 to 2026: 2.9%
- 2026 to 2027: 2.7%
- 2027 to 2028: 2.6%
The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is around 2.8%, highlighting a steady growth trend over the period. In 2023, the import value was a key reference point, indicating this progression.
Future trends to watch include potential fluctuations in global soybean production, trade policies affecting imports, and evolving domestic demand given dietary trends and oil consumption patterns.
