The forecasted data for soybean oil domestic consumption in Malaysia indicates a steady increase from 2024 to 2028, with values rising from 81.0 Thousand Metric Tons in 2024 to 85.0 Thousand Metric Tons in 2028. The consumption has consistently grown year-on-year with a 1.23% annual increment from 2024 to 2028.
Based on the actual data from 2023, Malaysia's soybean oil domestic consumption stood at 80.0 Thousand Metric Tons. From 2022 to 2023, the consumption varied by 1.27%. The Compound Annual Growth Rate (CAGR) over the last five years (2024-2028) is approximately 1.23%.
Future trends to watch for include potential impacts of price fluctuations in global soybean oil markets, changes in consumer dietary preferences, government policies on edible oils, and advancements in agricultural productivity. Factors such as trade policies and environmental sustainability measures may also play crucial roles in shaping the future demand for soybean oil in Malaysia.
