In 2023, India imported approximately 3.9 billion kilograms of crude soyabean oil. Forecasts for the period from 2024 to 2028 indicate a steady year-on-year increase in import volumes, with values rising from 4.0143 to 4.5114 billion kilograms. These forecasts suggest a consistent annual growth rate (CAGR) over the five-year period.
Key trends to watch include:
- Potential changes in domestic production affecting import dependency.
- Fluctuations in global soyabean oil prices impacting import costs.
- Government policies or trade agreements influencing import volumes.
