In the Philippines, the soybean oil import volume was 26.98 thousand metric tons in 2023. The forecasted data from 2024 to 2028 shows a gradual increase: 27.85 in 2024, 28.72 in 2025, 29.58 in 2026, 30.42 in 2027, and 31.24 in 2028, reflecting a steady upward trend in import volume.
The year-on-year variations are as follows:
- 2024: 3.22%
- 2025: 3.12%
- 2026: 3.00%
- 2027: 2.84%
- 2028: 2.70%
Over the last two years, the overall increase is consistent, with the last CAGR showing an average annual growth rate of 2.98% over five years.
Future Trends to Watch For: Monitoring factors such as global soybean oil prices, domestic agricultural productivity, and changes in dietary trends in the Philippines will be crucial. Additionally, potential impacts from trade policies and international supply chain disruptions may influence future import volumes.
