In 2023, the domestic consumption of soybean oil in Indonesia stood at 30.0 thousand metric tons. From 2024 onwards, the forecasted data indicates a steady rise with values reaching 31.0, 32.0, 32.0, 33.0, and 33.0 thousand metric tons for the years 2024 to 2028 respectively. The year-on-year variations highlight a consistent demand increase, with a noticeable 3.2% rise in 2024 and a continuing growth trajectory reflected in 2025 and beyond. Over the forecast period from 2024 to 2028, the compound annual growth rate (CAGR) is approximately 2.0%, suggesting a steady yet modest expansion in soybean oil consumption.
Future trends to watch for include potential shifts in dietary habits, economic growth affecting consumer purchasing power, and government policies promoting or inhibiting soybean oil usage. Monitoring these factors will be crucial in anticipating any significant deviations from the forecasted consumption trends.
