The soybean supply in India is forecasted to steadily increase from 13.69 million metric tons in 2024 to 14.68 million metric tons by 2028. Notably, the actual supply for 2023 stood at 13.44 million metric tons, indicating a year-on-year increase of 1.86% for 2024. The year-on-year variations from 2024 to 2028 are consistent, showing an approximate 1.83% annual increase. Over the period from 2023 to 2028, the compound annual growth rate (CAGR) is approximately 1.82%.
Future trends to watch for include:
- Technological advancements in agriculture enhancing productivity.
- Climate change impact on crop yields.
- Government policies and subsidies influencing farming practices.
- Global demand fluctuations affecting domestic supply and prices.
