Forecast: Soybean Oil Production in India

India's soybean oil production stood at 1.4491 million metric tons in 2023. Over the past decade, production has shown significant variability. Notable decreases occurred in 2015 (-42.98%) and 2019 (-4.27%), while periods of recovery were observed in 2017 (33.59%) and 2021 (5.37%). The Compound Annual Growth Rate (CAGR) for the last 5 years slightly declined by -0.79%. From 2024 onwards, forecasted data suggest minimal growth in production, with a 5-year CAGR of 0.08%, leading to an estimated production of 1.4564 million metric tons by 2028.

Future trends to watch for include potential impacts of climatic changes on crop yields, advancements in agricultural technology, fluctuations in international soybean oil prices, and domestic policy changes affecting the agricultural sector.

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