Forecast: Soybeans Consumption at Farm Gate in India

The soybean consumption at the farm gate in India is projected to increase moderately from 2024 to 2028. In 2023, the consumption stood at 29.00 million metric tons. Year-on-year growth rates from 2024 to 2028 indicate a steady upward trend with around a 1% increase per year. This reflects a compound annual growth rate (CAGR) of approximately 0.97% over the five-year period, demonstrating sustained demand for soybeans in the agricultural sector.

Future Trends to Watch For:

  • Potential impact of technological advancements in agriculture on productivity and consumption patterns.
  • Influence of policy changes related to agricultural subsidies and trade agreements.
  • Changes in consumer preferences towards plant-based products could further enhance soybean demand.

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