In 2023, soybean oil production in Thailand stood at 440.0 thousand metric tons. Forecasted production for the upcoming years is as follows: 446.0 thousand metric tons in 2024, 452.0 in 2025, 458.0 in 2026, 463.0 in 2027, and 469.0 in 2028. This implies a steady increase year-over-year. The expected annual growth rates between subsequent years are approximately 1.35% from 2024 to 2025, 1.33% from 2025 to 2026, 1.09% from 2026 to 2027, and 1.29% from 2027 to 2028. The compound annual growth rate (CAGR) over the five-year forecast period is around 1.26% per year.
Future trends to watch for include potential impacts of climate change on soybean yields, technological advancements in agricultural practices, and shifts in domestic and international demand for soybean oil. Additionally, policy changes regarding biofuel mandates and trade agreements with key import partners could significantly influence production trends.