The forecast for soybeans production in India shows a gradual increase from 13.97 million metric tons in 2024 to 14.889 million metric tons in 2028. In 2023, the production stood at approximately 13.75 million metric tons. The year-on-year growth rates for the next few years are expected to be 1.7% from 2024 to 2025, and around 1.6% for each subsequent year. This indicates a steady compound annual growth rate (CAGR) of approximately 1.6% from 2024 to 2028.
Future trends to watch for:
- Impact of climate change on crop yields.
- Technological advancements in agriculture that could boost productivity.
- Changes in government policies related to agriculture and subsidies.
- Global market demand and price fluctuations affecting export potential.
