In 2023, the soybean oil supply in Canada was recorded at 610.0 thousand metric tons. The forecasted data for subsequent years indicate a consistent increase in supply: 619.0 thousand metric tons in 2024, 627.0 thousand metric tons in 2025, 635.0 thousand metric tons in 2026, 642.0 thousand metric tons in 2027, and reaching 650.0 thousand metric tons in 2028. This reflects a steady year-on-year growth. For instance, from 2024 to 2025, the supply is expected to grow by approximately 1.3%, and similar growth rates are observed in subsequent years. The compound annual growth rate (CAGR) over the five-year forecast period is around 1.57%.
Future trends to watch for include potential impacts of climate change on soybean yield, trade policies between major soy-producing countries, and technological advancements in soybean oil production that could influence supply levels.
