The refined soybean oil import to Canada is on a declining trend from 2024 through 2028, with an annual decrease evident in the data. In 2023, the value stood at 17.451 million USD. Year-on-year, the import value is expected to drop by 6.3% from 2024 to 2025, by 6.5% from 2025 to 2026, by 6.9% from 2026 to 2027, and by 7.2% from 2027 to 2028. The compound annual growth rate (CAGR) is anticipated to be -6.5% over this forecasted period.

Future trends to watch for include:

Changes in domestic soybean production that could affect import needs.
Trade policies and tariffs influencing cost and import volume.
Shifts in consumer demand towards alternative oils due to health or environmental trends.