Based on the provided data, the soybean oil supply in India is forecasted to grow consistently from 2024 to 2028. The supply is projected to increase from 5.64 million metric tons in 2024 to 6.06 million metric tons by 2028.
Year-on-year, the projected increases are as follows:
- 2024-2025: 1.95%
- 2025-2026: 1.74%
- 2026-2027: 1.88%
- 2027-2028: 1.68%
The compound annual growth rate (CAGR) over the forecasted period (2024-2028) is approximately 1.81%.
In 2023, the actual supply stood at 5.54 million metric tons, thereby highlighting a steady upward trajectory in forecasted years.
Future trends to watch for include potential impacts from climate change on soybean crop yields, policy changes affecting agricultural imports and exports, and innovations in soybean cultivation techniques which could affect overall production and supply dynamics.
