As of 2023, India's soybean production was at 14.80 million metric tons. The forecast for 2024 shows an increase to 15.29 million metric tons, continuing a rising trend with projections reaching 17.24 million metric tons by 2028. From 2024 to 2028, there is a continuous projected annual growth, representing a CAGR of approximately 3.02%.
Future trends to watch for:
- Impact of climate change on crop yields and production estimates.
- Technological advancements and innovations in agriculture that increase efficiency.
- Changes in domestic and international market demand for soybeans.
- Government policies affecting agricultural practices and export dynamics.