Argentina's soybean oil production in 2023 stood at 6.76 million metric tons. The forecasted production for the upcoming years shows a steady increase: 2024 at 6.85 million metric tons, 2025 at 6.93 million metric tons, 2026 at 7.02 million metric tons, 2027 at 7.1 million metric tons, and 2028 at 7.18 million metric tons.
Year-on-year variations indicate:
- 2024: An increase of 1.33%
- 2025: An increase of 1.17%
- 2026: An increase of 1.30%
- 2027: An increase of 1.14%
- 2028: An increase of 1.13%
The average annual growth rate (CAGR) over the five-year period from 2024 to 2028 is approximately 1.21%.
Future trends to watch for include the potential impact of technological advancements in agriculture, changes in domestic and global demand for soybean oil, and shifts in trade policies and climate conditions which may affect production levels. Monitoring these factors will be crucial for stakeholders in the soybean oil industry.
