The demand for soybeans in Brazil is projected to grow steadily from 2024 to 2028. In 2023, the actual demand stood at 49.7 million metric tons. Between 2024 and 2025, the year-on-year growth is expected to be 1.06%, from 50.2 to 50.73 million metric tons. From 2025 to 2026, the growth is projected at 1.03%, reaching 51.25 million metric tons. The demand from 2026 to 2027 is forecasted to increase by 0.99%, moving to 51.76 million metric tons. Finally, between 2027 and 2028, the expected growth is 0.99%, with demand reaching 52.27 million metric tons. The Compound Annual Growth Rate (CAGR) over the five-year period is projected to be 1.03%.
Future trends to watch for include increasing global demand for biofuels, which could drive higher domestic soybean utilization. Additionally, potential trade disputes or changes in international trade policies could impact Brazil's soybean exports, affecting overall demand.
