Saudi Arabia's soybean imports are projected to show consistent growth over the forecast period from 2024 to 2028. In 2024, imports are expected to reach 787 thousand metric tons, increasing to 904 thousand metric tons by 2028.
Year-on-year growth rates indicate a steady increase in imports, with variations for 2025 at 3.82%, 2026 at 3.55%, 2027 at 3.43%, and 2028 at 3.31%. The compound annual growth rate (CAGR) over the five-year period is approximately 3.53%.
From a historical perspective, data for 2023 showed that soybean imports stood at a lower value compared to the projections for the following years, emphasizing an upward trend in import volume.
Future trends to watch for include fluctuations in global soybean prices, domestic agricultural policy changes, and possible shifts in consumption patterns due to dietary trends or economic factors. External factors like trade agreements and climate conditions in major soybean-producing countries may also impact import volumes.
