The import of refined soyabean oil to Australia stood at 25.16 million kilograms in 2023. Over the past two years, the year-on-year variation has been positive, with a 2.32% increase in 2022 and a 2.22% increase in 2023. Looking at the five-year period, the compound annual growth rate (CAGR) has been about 4.63%, indicating steady growth. Moving forward from 2024, the forecasted five-year CAGR is expected to be approximately 1.54%, pointing to a moderate increase in imports.

Future trends to watch for:

Changes in global soyabean oil production and supply chain dynamics.
Impact of trade policies and tariffs on import volumes.
Consumer demand shifts towards alternative oils and health trends.
Technological advancements in the agricultural sector that may affect yield and quality.