In 2023, Canada's soybean production was reported at approximately 6.38 million metric tons. The forecasted data from 2024 to 2028 suggests a steady increase in production, with an average annual growth rate of 2%. Year-on-year increases hover around 1.85% to 2% during this period, indicating a gradual upward trend in production levels.
Future trends to watch for include:
- Adoption of advanced agricultural technologies that may boost yield efficiency.
- Shifts in global demand, especially from key markets like China and the EU.
- Potential impact of climate change on agricultural outputs.
- Changes in trade policies affecting exports.
