The soybean oil distribution in Vietnam is anticipated to grow steadily from 2024 to 2028. In 2024, the forecast indicates a value of 451 thousand metric tons, increasing year-on-year to 505 thousand metric tons by 2028. This reflects consistent growth, marking an annual compound growth rate (CAGR) over the last five years. In 2023, the distribution stood at 437 thousand metric tons. Year-on-year variations show a steady increase, with a notable average annual increase.
Future trends to watch for include potential impacts of domestic agricultural policies, changes in global soybean oil prices, and shifts in consumer preferences towards healthier oil options which might either bolster or hamper soybean oil consumption in Vietnam.
