The soybean oil production in the U.S. is forecasted to grow steadily from 12.26 million metric tons in 2024 to 12.68 million metric tons in 2028. In 2023, actual production stood at 12.15 million metric tons. The year-on-year growth highlights an upward trend with incremental increases of approximately 0.9% to 0.8% annually. The compound annual growth rate (CAGR) over these five years is projected at about 0.9%.
Future trends to watch for:
- Impact of technological advancements in production methods.
- Changes in domestic and international soybean oil demand.
- Policy and regulatory changes affecting agricultural production.
- Global market fluctuations influencing U.S. export capabilities.
