The forecast for Canada's soybean meal export shows a slight annual decline from 2024 to 2028, with values decreasing from 378.0 to 373.0 thousand metric tons. As of 2023, actual export stood at a consistent level, slightly higher than the projections, indicating a diminishing trend in the coming years. The year-on-year percentage decrease averages to about 0.26%, reflecting a steady but modest decline in exports. The compound annual growth rate (CAGR) of -0.26% highlights the gradual downward trend expected over the five-year period starting from 2024.
Future trends to monitor include changes in global demand for soybean meal, potential trade agreements influencing exports, and developments in alternative protein sources that may impact the soybean meal market. Additionally, any changes in domestic production capabilities or shifts in agriculture policy could also affect future export levels.
