The soybean supply in Vietnam is forecasted to increase steadily from 2024 to 2028, starting at 3.11 million metric tons in 2024 and reaching 3.59 million metric tons by 2028. This marks a continuous upward trend with annual growth rates of approximately 3.9% between each year. The supply in 2023 was 2.99 million metric tons, indicating an annual growth rate of around 4% for 2024. The five-year Compound Annual Growth Rate (CAGR) from 2024 to 2028 averages about 3.6%.
Future trends to watch for include potential impacts of climate change on crop yields, advancements in agricultural technology which could further boost production efficiency, and changes in global soybean demand which could affect Vietnam's supply chain and export markets.
