The forecast for beans import volume in India indicates a consistent downward trend from 2024 to 2028. Starting at 494.0 thousand metric tons in 2024, it declines to 418.0 thousand metric tons by 2028. Compared to 2023, where import volume was higher, this suggests a notable reduction in dependency on imports. Year-on-year variations show a steady decrease, with a CAGR reflecting an average annual drop over the five-year period. Factors contributing to this decline might include increased domestic production, policy changes, or shifting consumer preferences.
Future trends to watch for include:
- Potential shifts in domestic production capacity and crop yield improvements.
- Changes in international trade policies impacting import volume.
- Impact of consumer demand for beans and alternative protein sources.
- Technological advancements in agricultural practices increasing local supply.
