The soybean oil supply in China was 18.79 million metric tons in 2023. Forecasts indicate a consistent increase, reaching 19.32 million metric tons in 2024, 19.75 million metric tons in 2025, 20.18 million metric tons in 2026, 20.61 million metric tons in 2027, and 21.03 million metric tons in 2028. The year-on-year percentage growth from 2023 to 2024 is approximately 2.82%, with the following years showing a steady increase of around 2.23% to 2.58% annually. The compound annual growth rate (CAGR) over the five-year forecasted period is about 2.29%.
Future trends to watch for include potential impacts from climate change on soybean production, shifts in global trade policies affecting soybean imports, and technological advancements in agriculture that could improve yield efficiency. Additionally, domestic policy changes in China concerning agriculture and renewable energy (such as biodiesel production) may influence soybean oil supply levels.
